APL Apollo Tubes has informed that the Nomination & Remuneration Committee of the Company, at its meeting held on July 28, 2015, has granted 7,24,000 Employee Stock Options under APL Apollo Employee Stock Option Scheme - 2015. The terms of the Plan are each option will entitle the holder to 1 Equity Share of the Company, that is, 7,24,000 Equity Shares in aggregate, these options will vest in the eligible employees over a period of 4 years, commencing after the completion of 12 months from the date of Grant, vesting is based on performance and employee’s continuity in the Company and the options shall be exercisable within 5 years from the date of grant.
The above information is a part of company’s filings submitted to BSE.
