Please find attached herewith clarification/rectification in the disclosure made on May 20, 2026.
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Mirc Electronics has issued a clarification to their May 20, 2026 disclosure about ESOP grants. The company identified a clerical error where the date in the pricing formula was incorrectly stated as April 16, 2026 instead of April 01, 2026. The correction affects how the exercise price is calculated for 16,00,000 stock options granted to eligible employees under the MIRC Electronics Employee Stock Option Plan 2023. Each option converts to one equity share of Rs. 1/- face value, with exercise price at 30% discount of the April 1, 2026 closing price, subject to a floor of Rs. 16.81 per share. The scheme complies with SEBI (SBEB) Regulations, 2014, with vesting based on performance milestones over a minimum 1-year period and a 2-year exercise window.
This is an administrative correction with no material impact on shareholders or stock price. The change is limited to fixing a typographical error in a reference date used for calculating ESOP exercise price.