Jindal Stainless Ltd (JSL) on Tuesday announced an Employee Stock Option Plan (ESOP) for senior company officials.
The primary objective of introducing ESOPs for 150 senior members is to attract, incentivise and retain talent, fostering a shared sense of ownership and aligning the interests of the employees with those of the organisation, the company said in a statement.
JSL has granted 15,68,266 stock options, using the instrument of ESOPs and restricted stock Units (RSUs) in an equal mix, to eligible employees under the JSL Employee Stock Option Scheme 2023. The ESOPs will vest over a period of four years, alongside linkage to performance conditions, it said.
"The implementation of ESOPs is a testimony of our intent to retain our people and make them true partners in our progress. Besides, it helps align the interests of our senior team with our long-term growth plans," Jindal Stainless Managing Director Abhyuday Jindal said.
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