Committee approves grant of 98 lakh stock options to new joiners and eligible employees
The Nomination & Remuneration Committee approved the grant of 98 lakh stock options to new joiners and eligible employees.
By ScoutQuest · · 1 min read
- Stock Options Granted
- 98 lakh stock options to new joiners and eligible employees
- Vesting Schedule
- vest equally over 4 years (25% each year)
- Exercise Window
- 3 months from each vesting date
What was approved
The Nomination & Remuneration Committee of the bank approved the grant of 98 lakh stock options to new joiners and eligible employees. The grant covers options given against their respective employment offers, as well as options meant to reward, incentivize and retain talent on the basis of performance.
The exercise price is to be determined by the NRC. Executive Board members are not part of this grant.
How the options work
- The options vest equally over a period of 4 years, that is 25% each year.
- The exercise period is 3 months from the date of each respective vesting.
- The grant is made under the 'IDFC FIRST Bank Limited - Employee Stock Option Scheme'.
What this means for a retail investor
A stock option gives an employee the right to buy shares at a set price later, once the option vests. When these options are eventually exercised, new shares are issued, so the total number of shares in the company can rise. That is why ESOP grants are watched for their effect on existing shareholders' holding.
The numbers here are the headline figure of 98 lakh options. The shares that may be issued on exercise would be spread over several years because vesting happens in yearly tranches, and not every option granted is necessarily exercised.
The update also notes that the committee meeting commenced at 11:30 a.m. and concluded at 02:10 p.m.
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More numbers
- Stock options granted98,00,000
- Vesting period4 years
- Vesting per year25%
- Exercise period after each vesting3 months
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