Hero MotoCorp Limited submitted a regulatory disclosure to the National Stock Exchange of India Ltd. and BSE Limited regarding the grant of employee stock incentives.
Key Quantitative Figures
The NRC approved the grant of:
- 48,000 RSUs (Category A) at face value of ₹2 per unit
- 4,056 RSUs (Category B) at face value of ₹2 per unit
- 75,000 PRSUs at face value of ₹2 per unit
Total grants: 127,056 units
Vesting Schedule
- RSUs (A): Vest in three years in the ratio of 33.33%:33.33%:33.34%
- RSUs (B): Vest in four years in the ratio of 25%:25%:25%:25%
- PRSUs: Vest after completion of three years from the date of grant
Exercise Terms
- All RSUs and PRSUs are convertible into one equity share of the Company each upon vesting
- Exercise price: Face value of ₹2 per unit
- Exercise window: Within 24 months from the date of vesting
- Vesting commences from the end of the first year from the date of grant (June 24, 2026)
Regulatory Framework
The grant is subject to compliance with:
- Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2021 ("SEBI (SBEB) Regulation, 2021"), as amended
- Company's Employee Incentive Scheme 2014 ("Scheme")
Disclosure Context
This disclosure is made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Additional Details
- Options exercised: Not applicable
- Money realized by exercise of options: Not disclosed
- Total number of shares arising from exercise: Not disclosed
- Options lapsed: Not applicable
- Variation of terms: Not applicable
- Subsequent changes or cancellation: Not applicable
- Diluted earnings per share impact: Not disclosed
Financial Impact
The financial impact of the grant is not quantified in the disclosure. The potential dilution impact will depend on the number of units that eventually vest and are exercised by employees.