Recode Studios Approves ESOP and Schedules Extraordinary General Meeting
Recode Studios Limited announced significant corporate decisions following its Board meeting held on July 15, 2026. The Board approved the notice for an Extraordinary General Meeting (EGM) and formulated the 'Recode Studios Limited Employee Stock Option Plan, 2026' (RSL ESOP, 2026), which is subject to member ratification at the upcoming EGM.The company has set the date for the EGM as Tuesday, August 11, 2026, with the meeting scheduled for 3:00 P.M. The general meeting will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM).
Voting and Scrutiny Details
To ensure fair voting procedures, the Board fixed August 4, 2026, as the cut-off date for determining member eligibility for e-voting. The remote e-voting facility will commence on Saturday, August 8, 2026, and will conclude on Monday, August 10, 2026. During this period, members can cast their votes between 9:00 a.m. and 5:00 p.m.The Board also appointed CS Sumit Ghai, a Practicing Company Secretary, to scrutinize the remote e-voting process and all votes cast during the EGM. The scrutiny period aligns with the voting window, starting on August 8, 2026, at 9:00 A.M. and ending on August 10, 2026, at 5:00 P.M.
Details of RSL ESOP, 2026
The Board reviewed and approved the formulation of the Employee Stock Option Plan (ESOP), titled 'Recode Studios Limited Employee Stock Option Plan, 2026' or 'RSL ESOP, 2026'. The plan details are structured to comply with applicable regulations regarding share-based employee benefits.The key parameters and terms of the RSL ESOP, 2026 include:
| Particulars | Details |
|---|---|
| Total options available for grant | Not more than 3,00,000 (Three Lakhs) |
| Face value per equity share | Rs. 10/- (Rupees Ten Only) each |
| Pricing formula | Exercise price will be determined by the Compensation Committee, not less than the face value and not more than the market price at the time of grant. |
| Options vesting terms | Vested options must be exercised within three years from the completion of the Vesting Period and only during specified Exercise Window(s). |
| Plan administration | The Nomination and Remuneration Committee (Compensation Committee) will operate and administer the plan, determining the number of options granted to each eligible employee. |
The Compensation Committee is responsible for setting terms such as the vesting proportion and period, subject to a minimum vesting period of one year from the grant date and a maximum vesting period of up to two years.
Stock Price Movement
Recode Studios Ltd shares settled at ₹196.00 in the post-market session after rallying 8.53%. The stock moved through its intraday range, hitting a low of ₹183.00 and an intraday high of ₹196.00.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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