Whirlpool of India has announced the introduction of its Employee Stock Option Plan 2026 (ESOP 2026), which aims to grant options up to 2% of the company’s paid-up capital as of 31st March 2025. The plan was approved during a board meeting held on 23rd March 2026.
The ESOP 2026 is designed in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The plan will be implemented in one or more tranches, subject to the approval of the company’s members.
The company plans to seek approval for the ESOP 2026 through a postal ballot, adhering to the Companies Act, 2013, along with the relevant rules and regulations. The exercise price for the options will not be less than the face value of the shares and will not exceed the fair market value on the grant date.
The ESOP 2026 will be administered through an employees’ welfare trust, known as the ESOP Trust. This trust will handle the acquisition of shares and distribute them to eligible employees upon completion of the vesting period and exercise of the options.
The nomination and remuneration committee (NRC) will oversee the administration of the ESOP 2026, including setting the terms and conditions under which the options can be exercised. Eligible employees will have a maximum of one year from the vesting date to exercise their options.
The board meeting where this decision was made commenced at 09:20 AM and concluded at 09:32 AM on the same day.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).