Master Trust Limited Grants 9,45,200 Stock Options to Eligible Employees Under ESOP 2025
Master Trust Limited's Nomination & Remuneration Committee approved the grant of 9,45,200 stock options under ESOP 2025 to eligible employees on 16th May, 2026. Each option is convertible into one fully paid-up equity share of face value INR 1/- each, with the exercise price set at a discount not exceeding 20% of the prevailing market price. Options vest over a maximum of 4 years at 25% annually, subject to continued employment and performance conditions, with no lock-in applicable post-exercise except as required by law.
*this image is generated using AI for illustrative purposes only.
Master Trust Limited has announced the grant of 9,45,200 stock options to eligible employees under its 'Master Trust Limited Employee Stock Option Plan 2025' (ESOP 2025). The Nomination & Remuneration Committee (NRC) of the Board of Directors approved the grant at its committee meeting held on 16th May, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Details of the ESOP 2025 Grant
The grant has been made in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Each stock option is convertible into one fully paid-up equity share carrying a face value of INR 1/- each. The following table summarises the key parameters of the grant:
| Parameter: | Details |
|---|---|
| Number of Options Granted: | 9,45,200 |
| Plan Name: | Master Trust Limited Employee Stock Option Plan 2025 (ESOP 2025) |
| Face Value per Share: | INR 1/- |
| Exercise Price: | Discounted price at not exceeding 20% discount to prevailing market price (closing price on the Stock Exchange having the highest trading volume) one day prior to the date of grant |
| Vesting Period: | Minimum 1 year; maximum 4 years from the date of grant |
| Exercise Period: | Maximum 4 years from the date of respective vesting of options |
| Lock-in after Vesting: | None, except as required by applicable law |
| Plan Administrator: | Nomination and Remuneration Committee (NRC) |
Vesting Schedule
The options will vest over a period of 4 years from the grant date, with 25% vesting annually, subject to continued employment and satisfaction of performance conditions as set forth in the grant letter. The vesting schedule is as follows:
- End of 1st year from the grant date — 25% of options granted
- End of 2nd year from the grant date — 25% of options granted
- End of 3rd year from the grant date — 25% of options granted
- End of 4th year from the grant date — 25% of options granted
Significant Terms and Conditions
The ESOP 2025 plan is administered by the Nomination and Remuneration Committee. Grants are made based on eligibility criteria as defined under the plan. Equity shares allotted pursuant to the exercise of stock options will not be subject to any lock-in period after exercise, except as required by applicable law at the time. Employees may exercise all vested options at one time or at various points within the exercise period. All tax liabilities in relation to the options are to be borne by the employee.
Vesting is subject to the satisfaction of performance criteria and/or service conditions as determined by the NRC. The granted ESOPs will vest as per the vesting schedule cited in the individual grant letter of each employee, as approved by the NRC. The disclosure has been made in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and December 31, 2024.
Historical Stock Returns for Master Trust
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.38% | +0.70% | +16.84% | -13.50% | -43.34% | -48.19% |
How might the 20% discounted exercise price impact Master Trust Limited's share price and existing shareholder dilution when employees begin exercising options from 2027 onwards?
What performance conditions has the NRC likely tied to the vesting schedule, and could unmet targets lead to significant option forfeitures that affect employee retention?
Will Master Trust Limited announce additional ESOP tranches in the near future as part of a broader talent acquisition strategy in the competitive financial services sector?
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