NewsNava Limited Grants 70,000 Restricted Stock Units to Eligible Employees Under NAVA RSU 2023 SchemeNava Limited Grants 70,000 Restricted Stock Units to Eligible Employees Under NAVA RSU 2023 Scheme
Nava Limited's Nomination & Remuneration Committee approved Grant-V of 70,000 RSUs under the NAVA RSU 2023 scheme on May 14, 2026, at an exercise price of Rs.555.00 per RSU. Each RSU entitles the holder to one equity share of face value Re.1/- each. The RSUs will vest across four tranches between May 2027 and May 2030, with the exercise window set at 90 days from each vesting date. No RSUs have been exercised or lapsed under this grant as of the disclosure date.
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The Nomination & Remuneration Committee of Nava Limited approved the grant of 70,000 Restricted Stock Units (RSUs) to eligible employees on May 14, 2026, under the NAVA – Restricted Stock Unit Plan 2023 ("NAVA RSU 2023"). This constitutes Grant-V under the scheme and is in compliance with SEBI (Share Based Employee Benefits) Regulations, 2021. The disclosure has been made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Details of the RSU Grant
The following table summarises the core parameters of the Grant-V RSU issuance:
| Parameter: | Details |
|---|---|
| Grant Reference: | Grant-V |
| Total RSUs Granted: | 70,000 |
| Shares Covered: | 70,000 equity shares of Re.1/- each |
| Exercise Price per RSU: | Rs.555.00 |
| Scheme Name: | NAVA RSU 2023 |
| Grant Date: | May 14, 2026 |
| Exercise Period: | Up to 90 days from date of vesting |
| RSUs Exercised: | Nil |
| RSUs Lapsed: | Nil |
| Money Realised: | Nil |
Each RSU carries the right to apply for and be allotted one equity share of face value Re.1/- each of the Company upon exercise.
Vesting Schedule
All RSUs granted under Grant-V shall vest not earlier than a minimum period of one year from the date of grant. The vesting is structured across four tranches as detailed below:
| Tranche: | % of RSUs Granted | Vesting Date |
|---|---|---|
| 1st Tranche: | 20% of RSUs granted | May 14, 2027 |
| 2nd Tranche: | 20% of RSUs granted | May 14, 2028 |
| 3rd Tranche: | 25% of RSUs granted | May 14, 2029 |
| 4th Tranche: | 35% of RSUs granted | May 14, 2030 |
The Nomination and Remuneration Committee retains the discretion to modify the vesting schedule, subject to applicable laws, provided such changes are not detrimental to the interests of the employees.
Scheme Governance and Terms
The exercise period for each tranche is up to ninety (90) days from the respective date of vesting. The Board or the Nomination and Remuneration Committee may, if deemed necessary, modify, change, vary, amend, suspend, or terminate the NAVA RSU 2023 scheme, subject to compliance with applicable laws and regulations. No RSUs have been exercised, lapsed, or cancelled under this grant as of the disclosure date, and no money has been realised through exercise of RSUs.
The disclosure was filed by VSN Raju, Company Secretary & Vice President of Nava Limited, in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Historical Stock Returns for Nava
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -10.67% | -12.20% | +3.29% | +14.43% | +35.18% | +1,175.37% |
How does the Rs.555 exercise price compare to Nava Limited's current market price, and what does this premium or discount signal about management's long-term confidence in the stock?
Given the back-weighted vesting schedule with 35% vesting only in 2030, how might this structure impact employee retention and talent acquisition strategies at Nava Limited over the next four years?
With five RSU grants now completed under NAVA RSU 2023, what is the total cumulative dilution exposure for existing shareholders, and how close is the scheme to its maximum authorized limit?
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