2010-11 - Grasim

UltraTec
ech Cement Limited
Details for all the tranches are as under:
(a) Employees Stock Option Scheme :
Particulars
Tranc
ranche I
Tranc
ranche II
Tranc
ranche III
Tranc
ranche IV
Tranc
ranche
V
Nos. of Options 99,010 69,060 60,403 88,907 8,199
Method of Accounting Intrinsic Value Intrinsic Value Intrinsic Value As per the As per the
Terms of Scheme Terms of Scheme
Vesting Plan Graded Graded Graded As per the As per the
Vesting - Vesting - Vesting - Terms of Scheme Terms of Scheme
25% every 25% every 25% every
year year year
Exercise Period 5 Years from 5 Years from 5 Years from As per the As per the
the date of the date of the date of Terms of Scheme Terms of Scheme
Vesting Vesting Vesting
Grant Date 23.08.2007 25.01.2008 08.09.2010 20.09.2010 20.09.2010
Grant Price (` per share) 606 794 655 709* 1,061*
Market Price on the date of
Grant of Option (` per share) 853 794 994 -* -*
Discount on Average Price 30.00% 1.98% 30.00% - -
*Issued to employees of erstwhile SCL option holders pursuant to Scheme of Amalgamation of
SCL with the Company.
(b) Movement of Options Granted:
2010-1
0-11 2009-1
09-10
Outstanding at the beginning of the year 132,885 168,070
New options granted including options
granted to the option holders of erstwhile SCL 157,509 -
Exercised during the year 21,117 1,200
Forfeited during the year 809 33,985
Outstanding at the end of the year 268,468 132,885
The weighted average price at the date of exercise for options was ` 1,060.54 per share.
(c) Movement of Exercisable Options:
Exercisable at the beginning of the year 82,835 42,016
Vested during the year including new options and
options granted to the option holders of erstwhile SCL 109,372 42,019
Exercised during the year 21,117 1,200
Options exercisable at the end of the year 171,090 82,835
(d) Fair
Valuation:
The fair value of options used to compute proforma net income and earnings per equity share
have been done by an independent firm of Chartered Accountants on the date of grant using
the Black-Scholes Model.
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