https://www.taxtmi.com/acts?id=35924 Options granted to an employee are non-transferable and exercisable only by the grantee; cashless exercise may be funded by the company or empanelled brokers with adjustment against sale proceeds and subject to company law. Options cannot be pledged or otherwise alienated. On employee death or permanent incapacity, options granted up to that date vest in heirs/nominees or in the employee respectively. On resignation or termination unvested options expire while vested options are retained subject to plan provisions; options granted to a director nominated by an institution cannot be renounced in favour of that institution. en-us Fri, 01 Feb 2019 15:43:24 +0530 Fri, 01 Feb 2019 15:43:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=35924 Options granted to an employee are non-transferable and exercisable only by the grantee; cashless exercise may be funded by the company or empanelled brokers with adjustment against sale proceeds and subject to company law. Options cannot be pledged or otherwise alienated. On employee death or permanent incapacity, options granted up to that date vest in heirs/nominees or in the employee respectively. On resignation or termination unvested options expire while vested options are retained subject to plan provisions; options granted to a director nominated by an institution cannot be renounced in favour of that institution. Act-Rules SEBI Fri, 01 Feb 2019 15:43:24 +0530 https://www.taxtmi.com/acts?id=35924