Jubilant FoodWorks has recently allocated 46,830 equity shares to its employees as part of its employee stock option plans (ESOPs). On 25 September 2023, the company’s shares were trading at Rs 540, reflecting a 1.69 per cent increase.
The allocation of these shares was approved by the nomination, remuneration and compensation committee (NRC) of Jubilant FoodWorks.
Eligible employees were allocated 46,830 equity shares through JFL’s stock option schemes, including 9,267 stock options, where each option can be converted into one JFL equity share with a face value of Rs 2.
The price per stock option was set at Rs. 531, based on the closing market price of the company’s equity share on the NSE on 22 September, 2023.
The stock options will vest in stages, with 20 per cent vesting on the first anniversary of the grant, 30 per cent on the second anniversary, and 50 per cent on the third anniversary. The vesting period spans seven years from the first vesting date.
Additionally, the company runs the ESOP 2016, granting 37,563 stock options to eligible employees, each converted into one JFL equity share valued at Rs 2. These options are approved by the NRC and vest within one to five years based on pre-vesting conditions and the approved schedule.