Employee stock options register requirement ensures recording of grants, vesting, exercises and scheme variations for compliance. The prescribed register mandates recording for each grantee: name, number of options granted, vesting date, exercise period, dates and numbers of options exercised, exercise price, resulting number of shares, Register of Members folio, lock-in periods, lapsed options, forfeited or refunded amounts, and any variations to scheme terms, together with signature and remarks, as the formal compliance record under the Companies Act.
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Provisions expressly mentioned in the judgment/order text.
Employee stock options register requirement ensures recording of grants, vesting, exercises and scheme variations for compliance.
The prescribed register mandates recording for each grantee: name, number of options granted, vesting date, exercise period, dates and numbers of options exercised, exercise price, resulting number of shares, Register of Members folio, lock-in periods, lapsed options, forfeited or refunded amounts, and any variations to scheme terms, together with signature and remarks, as the formal compliance record under the Companies Act.
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