MIRC Electronics Approves Grant of 16 Lakh Stock Options Under Employee Plan
MIRC Electronics Limited announced the approval of a significant grant of stock options to its eligible employees. The compensation committee of the Board of Directors of the company, during a meeting held on May 20, 2026, authorized the issuance of 16,00,000 stock options under the 'MIRC Electronics Employee Stock Option Plan 2023'.The options were approved for eligible employees of the company, providing each option holder the entitlement to one equity share of Re. 1/- each upon exercise.
Key Terms of the Option Grant
The detailed terms governing the grant of options under the 'MIRC Electronics Employee Stock Option Plan 2023' were released, providing clarity on the financial structure and vesting requirements for the 16,00,000 stock options.The total options covered are 16,00,000 equity shares of Re. 1/- each. The pricing formula dictates that the exercise price will be 30% discount of the closing share price of April 16, 2026, per option per share, but it will not be lower than Rs. 16.81 per share.
Key details regarding the employee stock option plan are summarized below:
| Feature | Detail |
|---|---|
| Total Options Granted | 16,00,000 stock options |
| Face Value per Share | Re. 1/- each |
| Pricing Formula | 30% discount of the closing share price of April 16, 2026, per option per share; not lower than Rs. 16.81 per share |
| Minimum Vesting Period | 1 (one) year, subject to performance milestones and detailed in the Letter of Grant |
| Exercise Timeline | Vested Options may be Exercised anytime within 2 (two) years from the Vesting Date |
| Options Exercised/Lapsed | Not Applicable (as per the current reporting period) |
The grant structure stipulates that the options shall vest upon the achievement of certain performance milestones. Once vested, the options grant the employee the right to exercise them anytime within two years of the vesting date while they remain employed with the company.
The announcement was made by Vijay Mansukhani, Chairman and Managing Director of MIRC Electronics Limited.
MIRCELECTR Stock Price Movement
On Wednesday, MIRC Electronics Limited shares slipped by 3.82% to settle at ₹37.87, concluding the trading day significantly below its previous close. The stock traded on a total volume of 1.12 million shares, reflecting considerable activity during the session.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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