Mastek has informed that the Nomination and Remuneration Committee of the Board of Directors at its meeting held October 18, 2016 have granted 15,000 stock options (ESOP’s) to the eligible employees. The broad terms and conditions of the said ESOP’s are as the options are granted at the market price of Rs 132 per share; On exercise of the option, one equity share of face value of Rs 5 each shall be allotted per option; the options shall vest at the rate of 25% at the end of each year from the date of grant; the first option shall vest only after a period of twelve months from the date of grant; and the vested options can be exercised within a period of seven years from the date of vesting.
The above information is a part of company’s filings submitted to BSE.
