Grant of Options under PG Electroplast Employees Stock Option Scheme - 2020.
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PG Electroplast Ltd's Nomination and Remuneration Committee has granted 8,00,000 employee stock options to eligible employees of the company and its subsidiary. Each option can be converted into one equity share of face value Rs. 1 at an exercise price of Rs. 400 per option. The exercise price represents a discount to the prevailing market price. The vesting period ranges from 1 to 4 years from the grant date, with all vested options required to be exercised within 1 year of vesting. This grant is in compliance with SEBI (Share Based Employee Benefit and Sweat Equity) Regulations, 2021. If all options are exercised, it would result in creation of 8 lakh additional equity shares.
Shareholders may face dilution of up to 8 lakh shares upon full exercise of options, representing potential equity dilution. However, this stock-based compensation aligns employee interests with shareholders and helps attract and retain talent without immediate cash outflow.