57,900 Stock Options Exercised Under SMEL Loyalty ESOP Scheme (ESOP II - 2023)
57,900 stock options vested and were exercised on 27th September, 2026 under the SMEL Loyalty ESOP Scheme (ESOP II - 2023).
By ScoutQuest · · 1 min read
- Options Exercised
- 57,900
- Exercise Price
- ₹221 per option
- Money Realised
- ₹1,27,95,900
- Shares Arising
- 57,900
- Exercise Date
- 27th September, 2026
What was shared
The company informed the exchanges that, on completion of the third year from the grant date, the final tranche under the SMEL Loyalty ESOP Scheme (ESOP II - 2023), a sub-plan of the SMEL Employee Stock Incentive Plan - 2023, vested and was exercised.
Key details
- Options vested with effect from 27th September, 2026: 57,900
- Options exercised on 27th September, 2026: 57,900
- Exercise price: ₹221 per option, being a 50% discount to market price on 27th September, 2023
- Money realised on exercise: ₹1,27,95,900
- Shares arising: 57,900 (1 option equals 1 share), face value ₹10 each
- Options lapsed: Nil; no variation in terms
Background of the scheme
The scheme originally covered 2,16,000 options granted to 5 eligible employees. Vesting is staggered: 40% on the first anniversary, 30% on the second and 30% on the third anniversary of the grant date. Options can be exercised within 6 months from the commencement of the vesting period.
How the shares are sourced
The scheme is administered through an ESOP Trust that is authorised to purchase shares from the secondary market to facilitate exercises. Shares allotted on exercise are not subject to lock-in.
What it means for investors
This is a routine employee stock incentive disclosure. The quantum involved is small relative to the company's overall equity base, and the update states diluted EPS impact as Not Applicable.
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More numbers
- Options vested57,900 Options
- Options exercised57,900 Options
- Money realised on exercise₹ 1,27,95,900
- Exercise price per optionX221
- Discount to market price at grant50% discount
- Total options granted under scheme2,16,000 Options
- Eligible employees granted options5 Eligible Employees
- Face value per shareX10 each
- Shares arising on exercise57,900 Shares
- Vesting on third anniversary30% of the total Eligible Options
- Exercise window6 months
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