IndusInd Bank has announced the allotment of 1,12,500 stock options to eight eligible employees under its Employee Stock Option Plan (ESOP), according to an exchange filing on Wednesday. The options are convertible into an equal number of equity shares upon exercise.
The Compensation and Nomination & Remuneration Committee approved the grant for six new joiners and two existing employees in IBL & BFIL. The main terms of the grant are as follows:
The grant price is set at Rs 1,423.75 per share, which was the closing price on the National Stock Exchange (NSE) on Tuesday. The vesting period is spread over three years from the date of the grant, with 33 percent vesting each year for the first two years and 34 percent in the third year. The exercise period extends to five years from the date of vesting.
Despite this announcement, IndusInd Bank's shares closed at Rs 1,404.25 on Wednesday, marking a decrease of 1.37 percent.
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