Max Estates Limited has informed the Exchange about General Updates regarding Intimation for Grant of Stock Options under the Max Estates Employee Stock OptionPlan 2023 ( ESOP Plan ).
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Max Estates Limited's Nomination and Remuneration Committee has approved the grant of 2,71,666 stock options to employees under the company's ESOP Plan 2023. Each stock option is convertible into one equity share of face value INR 10 each, with an exercise price of INR 203 per option. The options will vest over 4 years starting May 22, 2027, with 25% vesting each year until 2030. Employees will have a 2-year exercise period from the date each tranche vests. The grant complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
This ESOP grant is a standard employee retention initiative. While it creates potential share dilution of approximately 271,666 equity shares over 4 years, it aligns with regulatory requirements and can help align employee interests with shareholder value creation.