Tejas Networks, a leading telecom equipment and networking solutions provider, recently announced the allocation of over 3 lakh shares to eligible employees as stock options. In an exchange filing, the company revealed that the shares were allocated under various Stock Option Plans.
Out of the total allotment, 175 shares were granted under the Tejas Networks Employees Stock Option Plan 2014, while 2,89,337 shares were allocated under Plan 2014-A. Additionally, 2,980 shares were assigned under the Tejas Network Limited Employee Stock Option Plan 2016, with an exercise price of Rs 85, and 2,000 shares were allotted at an exercise price of Rs 110. Finally, the remaining 8,295 shares were given under the Tejas Restricted Stock Unit Plan 2017.
Following this allocation, the paid-up share capital of Tejas Networks increased to Rs 1,69,57,03,580, consisting of 16,95,70,358 shares from the previous Rs 1,69,26,75,710, consisting of 16,92,67,571 shares.
In terms of market performance, Tejas Networks’ shares were trading at Rs 729 on Wednesday at 1:08 pm IST, reflecting a 1.06 percent increase.
This move by Tejas Networks demonstrates a strong commitment to its employees and their participation in the company’s growth. By offering stock options, the company aims to incentivize its workforce and align their interests with the overall success of the organization.
Stock options provide employees with the opportunity to purchase company shares at a predetermined price, usually lower than the market value, at a later date. This enables them to benefit from capital appreciation if the share price rises over time. It also serves as a form of long-term compensation, motivating employees to contribute their best efforts towards achieving the company’s goals.
By awarding stock options to employees, Tejas Networks is not only recognizing their contribution but also fostering a sense of ownership and loyalty among the workforce. This, in turn, can lead to increased job satisfaction, improved retention rates, and ultimately, higher productivity.
With the allotment of these shares, Tejas Networks aims to create a sense of shared success and shared responsibility within the company. It is a testament to their belief in their employees and their confidence in the company’s future prospects.
As Tejas Networks expands its business and continues to innovate in the telecom industry, the allocation of stock options serves as a strategic move to attract and retain top talent. The company recognizes that its employees are key assets in driving growth and maintaining a competitive edge in the market.
In conclusion, Tejas Networks’ recent allotment of over 3 lakh shares to employees as stock options showcases its commitment to employee engagement and long-term value creation. By involving its workforce in the company’s success, Tejas Networks aims to build a strong and dedicated team that will contribute to its continued growth and success in the highly competitive telecom industry.
