Godrej Agrovet Announces Stock Options To Eligible Employees

Godrej Agrovet Limited on Thursday announced that the Nomination and Remuneration Committee of the Board of Directors of the Company has approved / noted the equity shares to employees as stock option, the company announced through an exchange filing.

Grant of Stock Options to an eligible Employee of the Company under Godrej Agrovet Limited - Employees Stock Grant Scheme, 2018

The Nomination and Remuneration Committee has approved grant of 2,153 Stock Options to an eligible employee of the Company under Godrej Agrovet Limited - Employees Stock Grant Scheme, 2018 (ESGS 2018), subject to the provisions of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, at an exercise price of Rs 10 per Stock Option.

Each Stock Option entitles the holder to apply for 1 Equity Share of the Company of Face Value of Rs 10 each. The Stock Options shall vest over a period of 3 (three) years and are exercisable within 1 month from the date of vesting or such other period as may be determined by the Nomination and Remuneration Committee.

The Stock Options granted are governed as per ESGS 2018, which is submitted to the Stock Exchanges at the time of obtaining in-principle approval.

Noting of lapse of 12,115 Stock Options granted under Godrej Agrovet Limited - Employees Stock Grant Scheme, 2018 (ESGS 2018)

The Nomination and Remuneration Committee of the Board of Directors noted and took on record lapse of 12,115 Stock Options, granted under Godrej Agrovet Limited - Employees Stock Grant Scheme 2018 (ESGS 2018) to an eligible employee of the Company, due to cessation of employment.

Godrej Agrovet Limited shares

The shares of Godrej Agrovet Limited on Thursday at 3:30 pm IST were at Rs 474.50, down by 1.05 percent.