UltraTech Cement granted 1,66,582 stock options to eligible employees on July 20, 2026, under its Employee Stock Option and Performance Stock Unit Scheme 2022. The allocation consists of 1,30,327 options and 36,255 Performance Stock Units (PSUs), approved by the company's Nomination, Remuneration and Compensation Committee.

The scheme complies with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The exercise price for the options is ₹11,727 per option, derived from the market price on July 17, 2026, while the exercise price for PSUs is fixed at ₹10 per PSU.

Vesting and Exercise Details

The vesting structure differs between the two instruments. Options will vest at a rate of 33% annually over a three-year period, with the first vesting occurring one year from the date of grant. In contrast, the PSUs have a 100% vesting requirement at the end of three years from the grant date.

Once vested, the stock options must be exercised within a period of five years from the date of vesting. The specific details of the grant are outlined in the table below:

UltraTech Cement has approved the re-appointment of Vivek Agrawal as Whole-time Director and Chief Marketing Officer for a period of two years, effective from January 1, 2027. The decision, taken by the Board of Directors on July 20, 2026, is subject to the approval of the company's shareholders. Agrawal will continue to serve as Key Managerial Personnel under the provisions of the Companies Act, 2013.

The re-appointment follows the recommendation of the Nomination, Remuneration and Compensation Committee. Agrawal's tenure is set to run from January 1, 2027, to December 31, 2028. The company disclosed that there are no relationships between directors that require disclosure, and Agrawal is not debarred from holding the office of director by any order from the Securities and Exchange Board of India (SEBI) or other authorities.

Profile and Experience

Vivek Agrawal has served the company for over 30 years, having joined the Group in 1993 as a Zonal Manager in the Cement Marketing Division. Throughout his career, he has held several critical positions, including Zonal Head – Grey Cement South, Head of Marketing – Birla White, and Head of RMC Business. He took over as CEO of the acquired entity Star Cement in 2010 and became Chief Marketing Officer of the Cement Business in October 2013.

Agrawal was named an Aditya Birla Fellow in 2017 and received the Chairman's Outstanding Leader Award in 2019. Prior to joining the company, he worked with Tata Motors. He holds a B.E. (Hons.) from NIT Allahabad, an MBA from FMS Delhi, and has completed an Advanced Management Program from Wharton Business School.

Appointment Details