Titan Company Limited has granted 7,35,550 Performance Stock Units (PSUs) under its ‘Scheme 2026’ to 168 eligible employees. The PSUs, representing 0.08% of paid-up equity share capital, will vest on May 15, 2029, subject to performance conditions. Upon exercise, each PSU entitles the grantee to one fully paid-up equity share of ₹1/-. No fresh shares will be issued, mitigating earnings dilution.
Titan Company Grants Performance Stock Units
Titan Company Limited announced today, September 18, 2026, the grant of Performance Stock Units (PSUs) under its ‘Scheme 2026’. The Board Nomination and Remuneration Committee (BNRC) approved the grant of an aggregate of 7,35,550 PSUs to 168 eligible employees of the Company and its subsidiaries. This grant constitutes a portion of the approved equity benefits under the performance-based stock unit scheme.
Key Grant Details
Each granted PSU entitles the employee to receive one fully paid-up equity share of ₹1/- face value upon successful vesting and exercise. The total number of equity shares that may be transferred to employees, subject to achieving performance parameters and fulfilling scheme conditions, is a maximum of 7,35,550 shares. This represents approximately 0.08% of the Company’s current paid-up equity share capital.
Implementation and Share Issuance
The Scheme 2026 will be implemented through the Trust Route. The Titan Employee Stock Option Trust will acquire the necessary equity shares through secondary acquisition and transfer them to employees upon the exercise of vested PSUs. Importantly, no fresh shares will be issued by the Company to the Trust or the employees, ensuring there is no dilution of earnings per share as a result of this grant.
Vesting and Exercise Period
The PSUs granted under this ‘Grant I’ are scheduled to vest on May 15, 2029, provided that the grantees meet the stipulated performance parameters. Following vesting, eligible employees will have a maximum period of 2 years from the vesting date to exercise their vested PSUs.
Scheme Compliance
The scheme is in terms of SEBI (Share Based Employee Benefits) Regulations, 2021, and the total number of shares covered by these options is 7,35,550. The exercise price per PSU is set at ₹1/- (Rupee One only), which is the face value of the underlying equity share of the Company. Further details on the significant terms of these PSUs can be accessed via the explanatory statement forming part of the Postal Ballot Notice dated August 7, 2026, available on the company’s website.
Source: BSE
