Intimation of Grant of Employee Stock Options under Prostarm Employee Stock Option Plan 2024
PROSTARM · price
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The Nomination and Remuneration Committee of Prostarm Info Systems Limited has approved the grant of 321,750 Employee Stock Options to eligible employees of the company and its subsidiary. The exercise price is Rs. 50 per option, which upon exercise converts into 321,750 equity shares of Rs. 10 each. Vested options can be exercised within 1 year from the date of vesting. The equity shares arising from exercise will have no lock-in period and will rank pari-passu with existing equity shares. Adjustments to the number of options and exercise price may be made in case of corporate actions like rights issues, bonus issues, or mergers.
This is a routine ESOP grant that provides employee incentives but has no immediate impact on the stock. It dilutes equity slightly upon exercise of options, which may marginally impact earnings per share in the future.