Summary of Key Information:
Reporting Period (Quarter/Year): Not Specified
Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI Listing Regulations
Audit Opinion:
Not Specified
Key Financial Highlights:
Not Specified
Standalone Results:
Not Specified
Consolidated Results:
Not Specified
Segment-wise Performance:
Not Specified
Corporate Actions:
The Board approved the grant of 24,237 Stock Options under VFL Employee Stock Option Scheme 2018 - "Scheme Pratham" (as amended) read with VFL Employee Stock Option Plan 2018 (as amended).
Exercise Price: ₹412.60 per stock option
Exercise Period: 10 years from the Grant Date
Minimum vesting period: One year from date of grant
Maximum options to any grantee: Not exceeding 1% of fully diluted total share capital
Vesting schedule for Time Options:
- 33% on the second anniversary of the Grant Date
- Next 33% on the third anniversary of the Grant Date
- Balance 34% on the fourth anniversary of the Grant Date
The Nomination & Remuneration Committee approved the allotment of 1,000 equity shares of face value ₹1 each to eligible employees upon exercise of stock options.
With this allotment, the issued, subscribed and paid-up share capital increased to ₹24,29,78,245 divided into 24,29,78,245 equity shares from ₹24,29,77,245 divided into 24,29,77,245 equity shares.
Other Significant Information:
The scheme is applicable to employees of the Company and its Subsidiary Companies and Holding Company, if any.
Options are divided into 'Time Options' and 'Performance Options'.
'Individual Performance Options' vest upon securing specified individual performance rating.
'Company Performance Options' vest depending on specified individual performance rating and Company performance.