 Online edition of India's National Newspaper Friday, Oct 31, 2008 ePaper | Mobile/PDA Version |
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KOLKATA: Biscuit and food major Britannia Industries has decided to offer 15,000 shares to its Managing Director Vinita Bali under an employee stock option scheme (ESOS), which has been approved by the company. The ESOPS was approved by the remuneration and compensation committee of the company’s board at a meeting held on Wednesday. Each option granted to the employee will entitle him/her to receive one share of the company upon exercise of the options. Vesting periodThe vesting period has been fixed at one year from the date of the grant beginning from October 30, 2008. The price has been fixed at Rs. 1,125.30 which was the market price at close on October 28. Britannia shareholders approved the employee stock option scheme at the company’s annual meeting. The proposal involved an employee stock option scheme not exceeding one lakh equity shares of the face value of Rs. 10 each. Ms. Bali was appointed Managing Director of the company in May 2006.
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