Idea Cellular Ltd. - Grant of "Stock Options" and "Restricted Stock Units" under
Employee Stock Option Scheme - 2013
29/12/2014 16:17
Idea Cellular Ltd has informed BSE that The Nomination and Remuneration Committee of the Board of Directors of the Company has passed a resolution through circular dated December 29, 2014 for:
(i) Grant of 559,677 Stock Options (“Options”) to the eligible Employees of the Company, under the "Employee Stock Option Scheme-2013” (ESOS-2013), at an exercise price of Rs. 150.10 per Option, each Option being convertible into one Equity Share of the Company upon vesting; and
(ii) Grant of 254,499 Restricted Stock Units (“RSU”) to the Eligible Employees of the Company, under the “Employee Stock Option Scheme-2013” (ESOS-2013), at an exercise price of Rs. 10/- per RSU, each RSU being convertible into one Equity Share of the Company upon vesting.
Subject to the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the terms of the ESOS - 2013, the Options shall vest in 4 equal annual installments commencing from end of first year from the date of grant and all RSUs shall vest after end of third years from the date of the grant, both if which shall be exercisable within a period of 5 years from the date of vesting.
29/12/2014 16:17
Idea Cellular Ltd has informed BSE that The Nomination and Remuneration Committee of the Board of Directors of the Company has passed a resolution through circular dated December 29, 2014 for:
(i) Grant of 559,677 Stock Options (“Options”) to the eligible Employees of the Company, under the "Employee Stock Option Scheme-2013” (ESOS-2013), at an exercise price of Rs. 150.10 per Option, each Option being convertible into one Equity Share of the Company upon vesting; and
(ii) Grant of 254,499 Restricted Stock Units (“RSU”) to the Eligible Employees of the Company, under the “Employee Stock Option Scheme-2013” (ESOS-2013), at an exercise price of Rs. 10/- per RSU, each RSU being convertible into one Equity Share of the Company upon vesting.
Subject to the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the terms of the ESOS - 2013, the Options shall vest in 4 equal annual installments commencing from end of first year from the date of grant and all RSUs shall vest after end of third years from the date of the grant, both if which shall be exercisable within a period of 5 years from the date of vesting.
