Thermax Limited — Others, 08-05-2025: Options to purchase securities

Thermax has announced a board meeting on the grant of 14,432 stock options to eligible employees under its Employee Stock Option Plan 2021. Each option can be converted into one equity share at an exercise price of Rs. 15.25. The options vest over three years and can be exercised within five years after vesting. This initiative aims to align employee incentives with company performance, potentially supporting long-term value creation for shareholders.