Housing Development Finance Corporation Ltd. (HDFC) announced that the company has allotted 10,000 equity shares of Rs. 2 each of the Corporation, via an exchange filing.
The said stock options have been granted at the market price as defined in SEBI (Share Based Employees Benefits and Sweat Equity) Regulations, 2021.
Accordingly, the options have been granted at Rs. 2,559.90 per option, being the latest available closing price of the shares of the Corporation on National Stock Exchange of India Limited on Friday, March 24, 2023 being the trading day immediately prior to the date of the abovementioned meeting.
Subject to fulfilling the conditions specified in ESOS-2020, 50% of the options granted shall vest upon completion of 3 years of continuous service with the Corporation and the remaining 50% shall vest on completion of 1 year thereafter.
The options can be exercised within a period of 5 years from the respective dates of vesting.