MphasiS has approved the allotment of 150,978 shares following the exercise of Employee Stock Options (ESOPs) and Restricted Stock Units (RSUs).
The ESOP Compensation Committee of MphasiS‘s Board sanctioned the share allotment on 12 March 2026. Under the Employee Stock Options Plan 2016, 148,556 shares were allotted, while 2,422 shares were allotted under the Restricted Stock Units Plan 2021.
The allotment follows the terms and conditions set forth in the respective ESOP 2016 and RSU Plan 2021. Employees who exercised options under the Cashless Scheme, approved during the 33rd Annual General Meeting on 25 July 2024, will have an appropriate number of shares deducted to cover the exercise price and applicable taxes. The Mphasis Employees Equity Reward Trust will manage these deductions and use the proceeds to repay loans and taxes.
Similarly, the Mphasis Employees Benefit Trust will deduct shares under the RSU Plan 2021 to cover costs, as approved at the 30th Annual General Meeting on 29 September 2021. The proceeds will also be used to settle loans and taxes.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).