Suzlon Energy has granted stock options to a majority of its staff to mark its 15th anniversary. This special ESOP scheme is open to all permanent employees of the company and its subsidiaries (excluding REpower and Hansen) who have completed six months with the company, and have not been granted ESOP under any other scheme. According to a company release, the scheme reaches over 9,400 employees in 21 countries across five continents.
Commenting on the special stock options, chairman and managing director Tulsi Tanti said: "April 10, 2010 marked 15 years in the history of our company, and we are very pleased to take that opportunity to roll out this exciting initiative."
He further elaborated that majority of the 11,000 employees would be granted 1,500 share options each totaling approximately 14 million shares and about one percent of the capital.
The exercise price has been fixed at Rs 72.70 per option. On Tuesday, shares of Suzlon Eneregy closed at Rs 73.05. The company release further clarified that all the vested options have to be compulsorily be exercised by March 31, 2014.
