Ref: SSFL/Stock Exchange/2022-23/066
Date: September 08, 2022
To | To |
BSE Limited, | National Stock Exchange of India Limited, |
Department of Corporate Services | Listing Department |
P. J. Towers, 25th Floor, | Exchange Plaza, C-1, Block G |
Dalal Street, | Bandra Kurla Complex, Bandra (E) |
Mumbai - 400001 | Mumbai - 400051 |
Dear Sir/Madam, |
Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations
- Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations) - Grant of ESOP Ref: Regulation 30 read with Schedule III of the SEBI LODR Regulations.
Pursuant to Regulation 30 read with Schedule III of the SEBI LODR Regulations, we hereby inform that the Nomination and Remuneration Committee of the Board of Directors of the Company at its meeting held on Thursday, September 08, 2022, inter-alia approved the grant of 1,60,000 stock options (which would get converted into 1,60,000 equity shares of the Company upon exercise) to the eligible employees of the Company under Spandana Employee Stock Option Plan 2021 Series A and Spandana Employee Stock Option Scheme 2021 Series A.
The brief details of the stock options granted are enclosed as Annexure-A.
Kindly take the same on record.
Thanking You,
Yours Sincerely.
For Spandana Sphoorty Financial Limited
Ramesh | Digitally signed by |
Ramesh Periasamy | |
Periasamy | 17:41:37 +05'30' |
Date: 2022.09.08 |
Ramesh Periasamy
Company Secretary and Compliance Officer
Encl: as above
Spandana Sphoorty Financial Limited
CIN ‐ L65929TG2003PLC040648
Plot No.31 & 32, Ramky Selenium Towers, Tower A, Ground Floor,
Financial Dist, Nanakramguda, Hyderabad ‐ 500 032
Ph: +9140‐45474750
contact@spandanasphoorty.com, www.spandanasphoorty.com
Annexure-A | |||||||||||||
Brief details of options | Grant of 1,60,000 stock options under Spandana Employee Stock Option Plan | ||||||||||||
granted | 2021 Series A and Spandana Employee Stock Option Scheme 2021 Series A | ||||||||||||
("ESOP 2021 Series A") to the eligible employees of the Company as | |||||||||||||
determined by the Nomination and Remuneration Committee. 50% of total | |||||||||||||
options granted to the eligible employee shall be considered as 'Time | |||||||||||||
Options' and balance 50% of the total options granted shall be considered as | |||||||||||||
'Performance Options'. | |||||||||||||
Whether the scheme is in | ESOP 2021 Series A is in compliance with the Securities and Exchange Board | ||||||||||||
terms of SEBI (SBEB) | of India (Share Based Employee Benefits and Sweat Equity) Regulations, | ||||||||||||
Regulations, 2021 | 2021. | ||||||||||||
Total number of shares | 1,60,000 Equity Shares, each stock option confers upon the option holder the | ||||||||||||
covered by these options | right to subscribe for 1 (one) fully paid equity share of the Company upon | ||||||||||||
exercise of the option. | |||||||||||||
Pricing formula/ Exercise | As per ESOP 2021 Series A | ||||||||||||
Price | |||||||||||||
Options vested/Vesting | Vesting Schedule: | ||||||||||||
Schedule | The Options shall vest as per the below schedule: | ||||||||||||
i.Time Options | |||||||||||||
Particulars | Vesting Schedule | ||||||||||||
First anniversary from the Grant | 25% | of | total | Time | Options | ||||||||
Date | granted | ||||||||||||
Second | anniversary | from | the | 25% | of | total | Time | Options | |||||
Grant Date | granted | ||||||||||||
Third anniversary from the Grant | 25% | of | total | Time | Options | ||||||||
Date | granted | ||||||||||||
Fourth | anniversary | from | the | 25% | of | total | Time | Options | |||||
Grant Date | granted | ||||||||||||
ii.Performance Options | |||||||||||||
Particulars | Maximum | options entitled | for | ||||||||||
vesting | based | on | annual | ||||||||||
performance rating | |||||||||||||
First anniversary from the Grant | 25% | of | total | performance | |||||||||
Date | Options granted | ||||||||||||
Second | anniversary | from | the | 25% | of | total | performance | ||||||
Grant Date | Options granted | ||||||||||||
Third anniversary from the Grant | 25% | of | total | performance | |||||||||
Date | Options granted | ||||||||||||
Fourth | anniversary | from | the | 25% | of | total | performance | ||||||
Grant Date | Options granted | ||||||||||||
Such performance options shall vest annually upon meeting the individual | |||||||||||||
performance rating upon completion of annual performance cycle: | |||||||||||||
Individual Performance Rating | Vesting per Year (%) of | ||||||||||||
performance options which | are | ||||||||||||
entitled to vest as per above clause | |||||||||||||
Rating 1 | 100 (Hundred)% | ||||||||||||
Spandana Sphoorty Financial Limited
CIN ‐ L65929TG2003PLC040648
Plot No.31 & 32, Ramky Selenium Towers, Tower A, Ground Floor,
Financial Dist, Nanakramguda, Hyderabad ‐ 500 032
Ph: +9140‐45474750
contact@spandanasphoorty.com, www.spandanasphoorty.com
Rating 2 | 80 | (Eighty)% | ||
Rating 3 | 50 | (Fifty)% | ||
Rating 4 | 0 (Zero)% | |||
Rating 5 | 0 (Zero)% | |||
Time within which option | Options can be exercised within 9 (Nine) years from the Grant Date. | |||
may be exercised |
Spandana Sphoorty Financial Limited
CIN ‐ L65929TG2003PLC040648
Plot No.31 & 32, Ramky Selenium Towers, Tower A, Ground Floor,
Financial Dist, Nanakramguda, Hyderabad ‐ 500 032
Ph: +9140‐45474750
contact@spandanasphoorty.com, www.spandanasphoorty.com
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Spandana Sphoorty Financial Ltd. published this content on 08 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2022 12:59:03 UTC.