The compensation committee of Godrej Industries has noted / approved lapse of 1,19,750 options under GIL ESOP I & II, due to resignation of employees.
The compensation committee approved granting of 2,97,250 options to employees, in terms of GIL ESOP II. The options shall vest in the employees on 30 July 2014. Thereafter, the option grantees shall be entitled to exercise the options within a period of 2 years.
The compensation committee has approved granting 2,07,813 stock grants to eligible employees of the company, in terms of employee stock grant scheme 2011 (ESGS 2011). In terms of the ESGS 2011, one stock grant represents one equity share of the company. The stock grants shall vest in the employees on 30 July 2012 or as may be determined by the compensation committee.