Insolation Energy Limited has informed the Exchange regarding 'Grant of Options to the Eligible Employees under Insolation Energy Employee Stock Option Plan 2024 ( ESOP 2024 / Plan )'.
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The Nomination and Remuneration Committee of Insolation Energy Limited has approved the grant of 10,000 stock options under the ESOP 2024 plan to eligible employees of the company and its subsidiaries, associates, and group companies. The exercise price is Rs. 3.80 per option. Due to a stock split effective January 24, 2025 (from Rs. 10 to Rs. 1 per share), the number of shares was adjusted from 1,000 to 10,000. The company also cancelled 46,250 previously granted options. This is tranche 7 of a total approved grant of 20,00,000 options. Vesting occurs in 25% tranches at 12, 18, 24, and 30 months from the grant date, with an 18-month exercise window after each vesting.
The ESOP grant serves as a retention and motivation tool for employees, aligning their interests with long-term shareholder value creation. The cancellation of 46,250 options suggests some employee turnover or performance-based forfeitures, which is a normal part of ESOP administration.