KPIT Technologies Grants 8,000 Options under Restricted Stock Unit Plan 2022
KPIT Technologies Limited has granted 8,000 options to eligible employees as part of the Restricted Stock Unit Plan 2022 (RSU Plan 2022). The grant was made by the Nomination and Remuneration (HR) Committee of the Board of Directors.The options were provided to employees who are covered under the RSU Plan 2022, which had been approved previously by shareholders in an Annual General Meeting held on August 24, 2022.
Key details regarding the option grant include:
- Total Options Granted: 8,000 options were granted to eligible employees.
- Shares Covered: The options cover not more than 8,000 shares.
- Exercise Price: The exercise price for each RSU is set at Rs. 10 per option, based on the face value of the Share as on the date of grant.
Significant Terms and Vesting Details
The terms of the options stipulate specific vesting requirements and timelines. These options are subject to the conditions defined in the Scheme.| Detail | Specification |
|---|---|
| Minimum Vesting Period | 1 year from the date of grant. |
| Maximum Vesting Period | 4 years from the date of grant. |
| Vesting Status | Options granted currently have nil vested options. |
| Exercise Window | Vested Options must be exercised within a period of 5 years from the date of vesting or a shorter period as determined by the Committee. |
The grant details confirm that, at this time, no options have been exercised against the allotted pool. Furthermore, there is no provision for conversion ratio other than each option carrying the right to be issued one share of the Company.
KPITTECH Stock Price Movement
KPIT Technologies Limited shares climbed today, closing at ₹602.45 after posting a gain of 3.37%. The stock traded within a daily range defined by a low of ₹587 and a high of ₹606.4, amid heavy volume as nearly nine million shares changed hands.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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