Firstsource Sol - Grant of Stock Options under 'Firstsource Solutions Employee Stock Option Scheme 2003'
Firstsource Solutions Ltd has informed BSE that Compensation Cum Board Governance Committee of Board of Directors of the Company have at its meeting held on July 30, 2012, approved grant of 9,025,000 stock options to 60 eligible employees of the Company and its subsidiaries under Firstsource Solutions Employee Stock Option Scheme 2003 (ESOS 2003).
Further the Company inform that Board of Directors at their meeting held on the same day viz. July 30, 2012, approved grant of 100,000 stock options to Mr. Charles Miller Smith, Director of the Company.
The Options were granted at an Exercise Price of Rs. 10/- per share, being the face value of the Company.
The terms of the Options granted under ESOS 2003 are briefly given below:
1. Vesting Schedule / Vesting Period: The Options granted shall vest in tranches over a period of 4 years with 25% of Options vesting at the end of 12 months from the date of grant of Options and thereafter 12.5% each of Options shall vest at the end of every 6 months.
2. Exercise Period: Exercise Period is 10 years from the date of grant of Options.