Ritco Logistics Limited has announced the cancellation of stock options under its Employee Stock Option Plans following the departure of several employees from the company. The cancellations were approved by the company's Nomination and Remuneration Committee during their meeting held on March 30, 2026.

Stock Option Cancellations Approved

The committee has approved the cancellation of a total of 92,500 stock options across two ESOP plans. The cancellations were necessitated after employees discontinued their service with the company and surrendered their allocated options.

Outstanding Stock Options Position

Following the cancellations, the company has provided an updated position of outstanding stock options under both plans. The remaining options continue to be part of the company's employee incentive structure.

Regulatory Compliance

The company has informed both the National Stock Exchange of India Limited and Bombay Stock Exchange Limited about these cancellations in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Gitika Arora, Company Secretary and Compliance Officer, ensuring proper regulatory disclosure of the ESOP modifications.

The cancellations reflect the standard practice of revoking unvested stock options when employees leave the organization before their vesting periods are completed. Both ESOP plans operate under the "PRAGATI KI AUR" framework, which forms part of the company's employee retention and incentive strategy.

Ritco Logistics Limited has announced a significant modification to its Employee Stock Option Plan (ESOP) vesting schedule, following approval from the company's Nomination and Remuneration Committee (NRC) on March 30, 2026. The revision comes after shareholders authorized the NRC through a postal ballot conducted on March 17, 2026, to determine and modify vesting schedules without requiring further shareholder approval.

Key Modifications to ESOP Vesting Schedule

The company has implemented changes to the vesting timeline while maintaining other core parameters of the stock option plan. The modification specifically targets the timing of the second tranche of option vesting.

Scope and Application

The revised vesting schedule will apply comprehensively across the ESOP framework, affecting both current and future option grants. The modification covers unvested options that have already been granted to employees as well as any future grants that may be issued under the existing ESOP plan.

Regulatory Compliance and Authorization

The modification has been executed in full compliance with regulatory requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company's approach demonstrates adherence to proper governance protocols by securing shareholder authorization before implementing the changes.

The postal ballot conducted on March 17, 2026, specifically empowered the NRC to make such determinations independently, streamlining future modifications while maintaining appropriate oversight. This authorization mechanism allows the committee to respond more efficiently to changing business needs and employee requirements.

Impact on Employee Benefits

The revision extends the final vesting period by one year, moving the second tranche from the end of the 4th year to the end of the 5th year. However, the company has maintained all other essential parameters unchanged, including exercise prices and the total number of options available to eligible employees. The modification also eliminates the previous lock-in requirement that applied to 25% of options until the 5th year, simplifying the overall structure.