Indiabulls Real Estate - Grant of Stock Options
Indiabulls Real Estate Ltd has informed BSE that the Compensation Committee constituted by the Board of Directors of the Company has at its meeting held on April 22, 2008, granted 15,00,000 (Fifteen lacs) Stock Options representing an equal number of equity shares of face value of Rs 2 each in the Company, to the Eligible Employees, at an exercise price of Rs 495.70, being the latest available closing market price on the National Stock Exchange of India Ltd., as on April 21, 2008. The Stock Options so granted, shall vest in the eligible employees in equal slabs of 10% per year, over a period of 10 years beginning from April 23, 2009, the first vesting date. The options granted under each of the slabs, can be exercised by the grantees within a period of ninety days from the relevant vesting date.
Tags: Indiabulls Real Estate