Maytas Infra grants 1257154 Employee Stock Options

Maytas Infra Ltd has announced that the Remuneration Committee of the Company in its Meeting held on March 23, 2010 granted 12,57,154 stock options to 151 employees of the Company under Employee Stock Option Scheme-2009 at a closing market price as on March 23, 2010. The vesting schedule for the above grants was modified by the Committee and the modified vesting schedule is announced.

For those employees who have completed two years of tenure as on February 01, 2010 the vesting rights that accrue shall be 30% each of the Grants allotted at the end of the 1st year and 2nd year and 35% of the Grants allotted at the end of the 3rd year.

For those employees who have NOT completed two years of tenure as on February 01, 2010 the vesting rights that accrue shall be 20% of the Grants allotted at the end of the 1st year, 30% of the Grants allotted at the end of 2nd year and 50% of the Grants allotted at the end of the 3rd year.

The stock was trading at Rs.177.50, up by Rs.0.60 or 0.34%. The stock hit an intraday high of Rs.179.80 and low of Rs.177.

The total traded quantity was 87307 compared to 2 week average of 479475.

Source : Equity Bulls

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