Metropolis Grants 58,000 RSUs Under MHL-RSU Plan 2020
Metropolis has approved a grant of 58,000 RSUs under MHL-RSU Plan 2020 this was larger plan of employee retention and motivation in the uncertain times of Covid 19.
by Damodharan N
Updated Jun 17, 2024
Metropolis Healthcare Limited (Metropolis), a leading diagnostics company in India, has approved the issuance of 58,000 Restrictive Stock Units (RSUs) under its Metropolis Healthcare Limited – Restrictive Stock Unit Plan, 2020 (MHL-RSU Plan, 2020).
The decision was made by the Nomination and Remuneration Committee of the Board of Directors through a circular resolution dated June 15, 2024. RSUs are a form of compensation where employees receive company shares after meeting specific conditions, typically related to tenure or performance.
In this case, the RSUs granted by Metropolis will be offered to eligible employees as per the details outlined in 'Annexure-1'. Which is available here Under the terms of the MHL-RSU Plan, 2020, these RSUs are aligned with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with regulatory norms.
The face value of the shares associated with these RSUs is set at INR 2 per share, and they can be exercised within a maximum period of 5 years from the date of vesting. This move by Metropolis underscores the uncertain times of Covid 19. and the commitment to rewarding and retaining talent while aligning employee incentives with the long-term growth and success of the company.
Metropolis–Restrictive Stock Unit Plan 2020
Metropolis Healthcare Limited has launched its Metropolis–Restrictive Stock Unit Plan, 2020 (MHL-RSU Plan, 2020) aimed at enhancing employee retention and motivation. Approved by the Board of Directors on February 6, 2020, and subsequently endorsed by shareholders through a postal ballot on April 6, 2020, the plan officially came into effect to align incentives and reward performance.
The past amendments that we know of happened in May and July 2022 further refined the plan's framework, reinforcing its role in fostering loyalty and enhancing stakeholder alignment. Under the MHL-RSU Plan, eligible employees are granted Restrictive Stock Units (RSUs) based on criteria such as length of service, role significance, and performance appraisals.
These RSUs allow employees to acquire ownership in the company proportionate to their contributions, thereby motivating them to drive Metropolis Healthcare's growth and success. The plan includes provisions for vesting over a period of 1 to 4 years, contingent upon meeting specified performance targets linked to company revenue and profit metrics.
Read the full plan here
About Metropolis
Metropolis Healthcare Limited, established in 1980 and headquartered in Mumbai, operates a widespread network of over 100 clinical laboratories and 1500+ patient touch points across India, South Asia, Africa, and the Middle East.
The company offers a comprehensive range of approximately 3,480 clinical laboratory tests and 524 profiles, serving millions of patients annually with diagnostic solutions aimed at prediction, early detection, and disease monitoring.
Metropolis Grants 58,000 RSUs under MHL-RSU Plan 2020 - FAQs
1. What does Metropolis Healthcare Limited do?
Metropolis Healthcare operates a network of diagnostic centers offering a wide range of clinical laboratory tests and profiles.
2. What is the MHL-RSU Plan 2020?
It's a plan to grant Restrictive Stock Units (RSUs) to employees as part of a retention and motivation strategy during the covid times.
3. How many RSUs were granted under the MHL-RSU Plan 2020?
Metropolis granted 58,000 RSUs under this plan for 2024
4. What are RSUs?
RSUs are a form of compensation where employees receive company shares after meeting specific conditions.