Hero MotoCorp Grants 1.27 Lakh RSUs/PRSUs to Employees
Hero MotoCorp's NRC approved grants of 52,056 RSUs and 75,000 PRSUs to employees. These units, with a face value of ₹2 each, are convertible into equity shares. RSUs vest over three to four years, while PRSUs vest after three years. The total shares covered are 1,27,056.
The grant of stock units to employees is a standard practice for employee remuneration and retention and is unlikely to have a significant immediate impact on the company's stock price or overall financial performance.
The announcement is a routine grant of stock options to employees and does not inherently contain positive or negative financial implications for the company.
Hero MotoCorp Limited announced that its Nomination & Remuneration Committee (NRC) has approved the grant of Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs) to eligible employees. The grants include 48,000 RSUs (A) with a face value of ₹2 per unit, vesting over three years in a 33.33%:33.33%:33.34% ratio. Additionally, 4,056 RSUs (B), also with a ₹2 face value, will vest over four years in a 25%:25%:25%:25% ratio. A further 75,000 PRSUs, with a ₹2 face value, will vest after three years. All these RSUs and PRSUs are convertible into one equity share of the company each, subject to SEBI (Share Based Employee Benefits) Regulations, 2021, and the company's Employee Incentive Scheme 2014. The total number of equity shares covered by these grants is 1,27,056. The exercise price for these units is the face value of the equity shares, ₹2. Vesting for RSUs (A) and (B) commences from the end of the first year of the grant date and can be exercised within 24 months of vesting. PRSUs vesting commences after three years from the grant date and can also be exercised within 24 months of vesting.
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Hero MotoCorp Limited filed this with the NSE as a statutory disclosure, categorised under designated person disclosures. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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