NOCIL Limited has made a regulatory disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the grant of Performance Restricted Stock Units (PRSUs) under the company's Long Term Incentive Plan 2024.
Key Quantitative Details
- Number of PRSUs granted: 1,04,960 units
- Face value per share: Rs. 10/- each
- Total scheme size: 85,00,000 shares (approved for the overall LTIP)
Terms and Conditions
- Pricing formula: Exercise price per option is at face value of Rs. 10 per share. The Nomination and Remuneration Committee has flexibility to set price between face value and closing market price.
- Vesting period: PRSUs shall vest at the end of three years from the date of grant (23rd September, 2026).
- Exercise period: Commences five years from the date of grant.
- Exercise price: Rs. 10 per share
Scheme Objectives
The Long Term Incentive Plan serves as:
- An organizational initiative to drive long-term business deliverables
- An equity-based compensation plan for eligible employees
- A tool to recognize and reward talent, motivate and retain employees
- A mechanism to encourage employee contribution to corporate growth
- A means to create an employee ownership culture
Current Status
- Options exercised: Not applicable at the moment
- Money realized by exercise of Options: Not applicable at the moment
- Total number of shares arising from exercise: Not applicable at the moment
- Options lapsed: Not applicable at the moment
- Variation of terms: Not applicable at the moment
- Subsequent changes or cancellation: Not applicable
- Diluted earnings per share impact: Not applicable at the moment