Kansai Nerolac grants over 100,000 RSUs to employees

Kansai Nerolac Paints Limited’s nomination and remuneration committee (NRC) has approved the grant of 103,042 restricted stock units (RSUs) to selected employees, exercisable into an equal number of equity shares with a face value of Re. 1 each. This decision, in accordance with the RSU Plan 2022, sets the grant date for these RSUs as September 15, 2025. The RSU Plan 2022 was initially approved by the board of directors on September 14, 2022, and by shareholders on October 25, 2022.

The RSUs will vest as per the schedule approved by the NRC. The plan stipulates that vested RSUs can be exercised while in employment within a period of four years from their vesting date. For employees separating from the company, the exercise period will adhere to the provisions outlined in the Plan. As of the announcement, 166,267 options have vested, and 168,735 options have been exercised, generating Re. 1,68,735.

The company also reported that 361,681 RSUs have lapsed, with no variations to the terms of the options. The diluted earnings per share, consequent to the issue of equity shares on exercise of options, stands at Rs. 2.85 (not annualized). Each RSU granted carries the right to be issued one equity share of the company, reinforcing the employee ownership structure.