Vedanta Aluminium Metal Limited (VAML) has announced the vesting of employee stock options granted under the pre-demerger Vedanta Limited Employee Stock Option Scheme – 2016 (‘ESOS 2016’). The options, granted in 2023, have vested effective November 04, 2026, subject to achievement of performance conditions. This vesting covers 1,84,14,252 options in total, with 55,16,340 options vested for VAML employees.
Employee Stock Options Vesting Announced
Vedanta Aluminium Metal Limited (VAML) has formally notified the vesting of employee stock options. These options were initially granted under the pre-demerger Vedanta Limited Employee Stock Option Scheme – 2016 (‘ESOS 2016’) during the year 2023. The vesting date for these performance-based grants is confirmed as November 04, 2026.
Details of Vesting
The vesting is contingent upon the completion of the performance period and the successful achievement of predetermined performance conditions. The total number of shares covered by these options amounts to 1,84,14,252.
Breakdown of vested options includes:
- Total Vesting: 55,16,340 options
- VAML Employees: 17,39,962 options
- VEDL and other three resulting companies: 37,76,378 options
The pricing formula or exercise price for these options is set ‘At Par value’.
Scheme Context
Following the Composite Scheme of Arrangement, the aluminium undertaking of Vedanta Limited was transferred to VAML. VAML subsequently adopted the ‘VAML ESOS Special Purpose Demerger Scheme’ to ensure continuity of benefits for outstanding grants held by eligible employees of VEDL and its Resulting Companies. Eligible employees are entitled to receive equity shares of VAML, VEDL, and the respective Resulting Companies.
Exercising Options
Options may be exercised within 8 months or such other period as approved by the Nomination and Remuneration Committee. The exact number of options exercised and the money realized will be determined post the exercise period closure. Options are based on a combination of business and individual performance over a sustained period, as per the plan approved by the Nomination and Remuneration Committee. No changes have been made to the terms of these options.
Source: BSE
