Hero MotoCorp Ltd approves grant of stock options, RSUs

The Nomination and Remuneration Committee of Hero MotoCorp Ltd at its meeting held on October 31, 2017 has approved the allotment of 29,800 Stock Options at an exercise price of Rs. 2818/- per option, vesting in four years in the ratio of 20:20:30:30 in four installments as per ESOP Plan 2017 and 15,769 RSUs (units) at face value of Rs. 2/- per unit vesting in three years in the ratio of 30:30:40 in three installments as per RSUs Plan 2017, under Employee Incentive Scheme 2014, to the certain eligible employees of the Company being convertible into one equity share of the Company upon vesting subject to the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 as amended from time to time and the terms of the Employee's Incentive Scheme 2014.

The vesting of the aforesaid Options and RSUs shall commence from the end of first year, from the date of grant. The aforesaid Options/ RSUs can be exercised within seven years from the date of grant, subject to vesting thereof.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.3854.75 as compared to the previous close of Rs. 3830.8. The total number of shares traded during the day was 29398 in over 935 trades.

The stock hit an intraday high of Rs. 3868.95 and intraday low of 3822.5. The net turnover during the day was Rs. 113123034.

Source : Equity Bulls

Keywords