Thomas Cook (India) Limited announced that its Nomination and Remuneration Committee has approved the grant of 10,00,000 stock options under the Thomas Cook Employees Stock Option Scheme 2024 – EXECOM (ESOP 2024 – EXECOM). These options, when vested and subject to necessary approvals, will enable the grantees to exercise them and receive shares of the company upon allotment. Each stock option is convertible into one fully paid-up equity share with a face value of Re 1. The options have been granted at an exercise price of Re 1 per stock option. The ESOP 2024 – EXECOM scheme is in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The options, upon vesting, are exercisable within a period of 20 years. The scheme also outlines provisions for dealing with stock options in cases of death, incapacity, resignation, separation, redundancy, or termination, and any equity shares allotted will not be subject to a lock-in period. Adjustments to the number of stock options may be made in response to corporate actions like rights issues, bonus issues, or stock splits.
