Astec LifeSciences Limited has announced the grant of 1,142 stock options to an eligible grantee under its Employees Stock Option Plan, 2012 (ESOP 2012). The move was approved by the Nomination and Remuneration Committee of the Board of Directors, in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Each stock option allows the holder to apply for one equity share of the company, with a face value of ₹10 per share. The exercise price for these options is set at ₹10 each. The options are scheduled to vest over a period of three years and can be exercised within one month from the date of vesting, or within a period determined by the Nomination and Remuneration Committee.
This development is part of Astec LifeSciences‘ ongoing efforts to incentivise and retain talent within the organisation. The company has made the details of this grant available on its website.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).