1. Grant of Stock Options:
The Committee approved the grant of 3,347 (Three Thousand Three Hundred and Forty-Seven) Stock Options to certain eligible employees under the Godrej Agrovet Limited - Employees Stock Grant Scheme, 2018 (ESGS 2018). This is referred to as Grant-9 (September 2026).
- Exercise Price: Rs. 10/- (Rupees Ten Only) per Stock Option
- Face Value: Each Stock Option entitles the holder to apply for 1 (one) Equity Share of the Company of Face Value of Rs. 10/- (Rupees Ten Only) each.
- Vesting Period: The Stock Options shall vest over a period of 3 (three) years.
- Exercise Window: The options are exercisable within 1 (one) month from the date of vesting or such other period as may be determined by the Nomination and Remuneration Committee.
- The grant is subject to the provisions of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
- The ESGS 2018 scheme (as amended) was submitted to the Stock Exchanges at the time of obtaining in-principle approval.
2. Lapse of Stock Options:
The Committee noted and took on record the lapse of 10,958 (Ten Thousand Nine Hundred and Fifty-Eight) Stock Options granted under the same ESGS 2018 scheme.
- Reason for Lapse: Cessation of employment of the eligible employees who held these options.
Additional Information:
- The allotted shares will rank pari-passu with the existing equity shares of the company, though this is implied standard practice and not explicitly stated.
Additional Announcements:
This filing is solely focused on the ESOP grant and lapse. No other corporate updates are included.