Date: September 25, 2026
ESOP Vesting Disclosure
Vesting Details
- Options Vested: 131,537 stock options
- Vesting Date: September 25, 2026
- Eligible Employees: 62 employees
- Vesting Percentage: 23% of total eligible options granted
- Grant Date: September 25, 2023
Scheme Details
- Scheme Name: SMEL Employee Stock Incentive Plan – 2023 (ESIP – 2023)
- Sub-plan: SMEL Performance ESOP Scheme (ESOP-2023)
- Compliance: Scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
- Total Options Granted: 859,738 equity shares of face value ₹10 each
Pricing and Terms
- Exercise Price: ₹326 per share
- Pricing Formula: 25% discount on market price
- Market Price Reference: Latest available closing price on NSE as of September 22, 2023 (previous trading day before grant approval)
- Exercise Period: Maximum 1 year from respective vesting date
- Conversion: Each stock option convertible into one fully paid-up equity share of ₹10 face value
Significant Terms
- Administered via ESOP Trust which purchases shares from secondary market
- Grant based on eligibility criteria determined by NRC Committee
- No lock-in period for shares allotted upon exercise
- Vesting schedule:
- 20% on first anniversary of grant date
- 23% on second anniversary of grant date
- 23% on third anniversary of grant date (current vesting)
- 34% on fourth anniversary of grant date
Current Status
- Options Exercised: Nil
- Money Realized: Not Applicable
- Shares Issued: Not Applicable
- Options Lapsed: Not Applicable
- Variation in Terms: Not Applicable
- Subsequent Changes: Not Applicable
- Diluted EPS Impact: Not Applicable
Additional Information
- Disclosure uploaded on company website: www.shyammetalics.com
- Signed by Birendra Kumar Jain, Company Secretary (Membership No. F13320)