Outcome of the Meeting of Nomination and Remuneration Committee (NRC) of the Company under the "Milkfood Limited Employee Stock Option Plan 2024" ("Milkfood ESOS 2024 Plan / Scheme")
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Milkfood Ltd's Nomination and Remuneration Committee (NRC) accepted the lapse of all 12,18,000 stock options that were granted to eligible employees on 27 January 2025 under the Milkfood ESOS 2024 Plan. Nearly all grantees declined to exercise their options, calling the proposal unattractive. The lapsed options will be returned to the ESOP pool, and the NRC may re-issue them in the future under revised terms. The original plan was approved by the Board on 2 December 2024 and by shareholders on 30 December 2024, with BSE's in-principle approval received on 23 January 2025.
This is mildly negative as it signals that employees found the ESOP terms unattractive, which may dilute confidence in management's incentive design. However, no equity dilution has occurred since the options lapsed back to the pool, and the NRC retains flexibility to re-grant them on better terms.