Key Event Details

  • Event: Vesting of Employee Stock Options under the 'Cera Sanitaryware - Employee Stock Option Scheme 2024' (ESOS 2024).
  • Effective Date: The vested options became available for exercise with effect from 5th June 2026.

Quantitative Figures

  • Total Options Granted (Original Grant): 14,950 (Fourteen Thousand Nine Hundred Fifty) options were granted to eligible employees on 5th June 2024 (Grant I).
  • Options Vested in This Tranche: 2,244 options vested on the 2nd anniversary (5th June 2026) of the grant date.
  • Vesting Percentage: This tranche represents 15% of the original grant of 14,950 options.
  • Face Value per Share: Rs. 5/- each.
  • Exercise Price: The exercise price per option is set at the face value of the company's shares.

Scheme & Vesting Schedule

The scheme is in terms of SEBI (SBEB) Regulations, 2021. The significant terms of the scheme are:

  • Each vested option entitles the employee to one fully paid-up equity share of the company.
  • The minimum vesting period is one year, with a maximum vesting period of five years from the grant date.
  • The detailed vesting schedule for the grant made on 5th June 2024 is as follows:
  • On 1st anniversary (5th June 2025): 10% of options granted
  • On 2nd anniversary (5th June 2026): 15% of options granted (This disclosure)
  • On 3rd anniversary (5th June 2027): 15% of options granted
  • On 4th anniversary (5th June 2028): 30% of options granted
  • On 5th anniversary (5th June 2029): 30% of options granted
  • Vesting is also subject to performance conditions as per Key Performance Indicators (KPIs).

Exercise Period

The exercise period for the vested options is a maximum of 5 (Five) years, commencing from the relevant date of vesting (5th June 2026).

Current Status and Impact

  • Options Exercised: Not Applicable (as of this disclosure).
  • Options Lapsed: Not Applicable.
  • Variation of Terms: Not Applicable.
  • Diluted EPS Impact: Not Applicable.
  • The total number of shares arising from the exercise of all options in the grant is 14,950 equity shares.

Company Secretary Certification

The letter is signed by Hemal Janardan Sadiwala, Company Secretary, and includes a digital signature with a timestamp of 5th June 2026, 18:19:55 IST.