USHAMART: Usha Martin Limited has informed the Exchange about Grant of stock options under the Usha Martin Limited Employee Stock Option Plan 2024 (Plan).
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Usha Martin's Nomination and Remuneration Committee approved the grant of 1,66,000 stock options to eligible employees of the company and its subsidiaries under the Usha Martin Employee Stock Option Plan 2024. These options, if fully exercised, can convert into up to 1,66,000 equity shares of Re. 1 face value each. The exercise price is set at a 20% discount to the closing market price on the NSE (highest trading volume) as on the grant date. Vested options must be exercised within 1 year from the date of vesting. The grant is compliant with SEBI's Share Based Employee Benefits and Sweat Equity Regulations, 2021.
This is a routine ESOP grant representing minimal dilution (1,66,000 shares is a very small fraction of the company's share base). The 20% discount on exercise price aligns employee interests with shareholders, and is a standard retention and motivation tool. Negligible impact expected on share price.