The Nomination and Remuneration Committee (NRC) of the Company, by resolution passed by circulation on October 12, 2026, approved the grant of 38,000 employee stock options (ESOPs) under the 'Onward Employee Stock Option Scheme 2024' to eligible employees.
The disclosure is made in compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Key Details of ESOP Grant
- Total options granted: 38,000 stock options
- Scheme compliance: Confirmed to be in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
- Total shares covered: 38,000 equity shares of ₹10 each
- Pricing formula: Exercise price will be at 20% discount to the market price
- Options vested as on grant date: Nil
- Exercise period: Maximum of 2 years commencing from the relevant date of vesting of options
Significant Terms of the Scheme
- The scheme is administered by the Trust and supervised by the Nomination and Remuneration Committee
- Options vest not earlier than minimum vesting period of 1 year and not later than maximum vesting period of 4 years from the grant date
- Exercise period for vested options is a maximum of 2 years commencing from the relevant date of vesting
Additional Information
- Options exercised: Not specified in disclosure
- Money realized by exercise of options: Not specified in disclosure
- Total number of shares arising from exercise: Not applicable
- Options lapsed: Not specified in disclosure
- Variation of terms of options: Not specified in disclosure
- Subsequent changes or cancellation or exercise: Not applicable
- Diluted earnings per share impact: Not applicable
The document was digitally signed by Aakash Pankaj Joshi, Company Secretary & Compliance Officer (Membership No: A60953) on October 12, 2026 at 15:47:25.