Pitti Engineering Limited — Important, 13-03-2025: Updates

The Nomination and Remuneration Committee has approved the grant of 7,87,500 employee stock options to eligible employees under the Pitti ESOP Scheme 2024. The options, granted at an exercise price of ₹736.72 per share, fall within the approved limit of 13,00,000 options. Each option allows the holder to apply for one equity share of the company, valued at ₹5 each. The vesting will occur over eight years, with 75% based on time and 25% on performance criteria. Employees can exercise options within five years from the vesting of the final tranche. This move could enhance employee engagement and retention while aligning staff interests with company growth. Monitor developments closely as this initiative progresses.