Computer Age Management Services Limited (CAMS) on Thursday announced that the grant of 4,30,000 stock options has been approved by the Nomination and Remuneration Committee of Directors of the Company on 11th October, 2023, the company announced through an exchange filing.
Each stock option, upon exercise, entitles the holder to the allotment of one equity share, valued at Rs 10 each, of the Company.
The stock option scheme is fully compliant with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
The effective grant date for these stock options is October 11, 2023. These options cover a total of 4,30,000 equity shares of Rs 10 each of the Company.
CAMS has priced these stock options at the market price, specifically at the closing price of the Company's shares on BSE Limited on the date of approval by the Nomination and Remuneration Committee, which was October 11, 2023, and amounted to Rs. 2,415.00 per share.
Vesting Schedule
Subject to meeting the conditions stipulated in CAMS ESOP – 2019, the options granted will vest in four equal instalments, each representing 25 percent of the total options, and will vest at the end of 12, 24, 36, and 48 months, respectively, from the effective date of the grant.
Exercise Period
Once the conditions specified in CAMS ESOP – 2019 are met, vested options can be exercised within a four-year period from the date of vesting.
CAMS shares
The shares of CAMS ion Thursday closed at Rs 2,557.20, up by 5.88 percent.
