Whirlpool of India Limited has formally established an ‘Employees Welfare Trust of Whirlpool of India Limited’ (ESOP Trust). This trust is set up to administer and implement the company’s Employees Stock Option Plan 2026. The trust deed, executed on October 30, 2026, outlines the framework for managing the ESOPs for the benefit of its employees, aligning with SEBI regulations.
Whirlpool of India Establishes ESOP Trust
Whirlpool of India Limited has announced the establishment of the ‘Employees Welfare Trust of Whirlpool of India Limited’, also referred to as the ‘ESOP Trust’. This initiative is a key step in the company’s strategy to provide employee stock options and long-term incentives.
Purpose of the ESOP Trust
The primary objective of the ESOP Trust is to manage and administer the company’s ‘Employees Stock Option Plan 2026’ (ESOP Plan). The trust aims to facilitate various welfare measures for its employees through the implementation of this plan. The trust deed has been executed in accordance with the requirements of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Key Details of the Trust Deed
The Trust Deed, dated October 21, 2026, details the appointment of initial trustees: Mr. Manoj Khanna, Mr. Debopriyo Sengupta, Mr. Ankur Jolly, and Mr. Shivank Aggarwal. The trust is funded with an initial corpus of INR 50,000. The trust is structured to be irrevocable and its administration will be governed by the terms outlined in the deed and relevant applicable laws.
Objects and Operations
The trust’s objectives include implementing the ESOP Plan and other long-term incentive schemes, acquiring and holding shares of Whirlpool of India Limited for the ESOP, and managing the trust fund for the benefit of employees. The trustees are responsible for the overall management and administration of the trust, ensuring compliance with legal and regulatory requirements.
Governance and Compliance
The ESOP Trust’s activities and operations will be overseen by the Committee, with the Trustees acting as per their instructions. The deed also specifies provisions for the removal, resignation, and appointment of new trustees, ensuring continuity in the trust’s administration. The accounting year for the ESOP Trust will end on March 31 annually.
Source: BSE
