Central
CIRCULAR REGARDING RELAXATION FROM THE REQUIREMENT OF MINIMUM VESTING PERIOD IN CASE OF DEATH OF EMPLOYEE(S) UNDER SEBI (SHARE BASED EMPLOYEE BENEFIT) REGULATIONS, 2014 ( CIRCULAR DATED -15.06.2021)- SEBI.
In view of the COVID-19 pandemic situation, to provide relief to the families of the deceased employees of listed companies, it has been decided as under: The provisions under the SBEB Regulations relating to minimum vesting period of one year shall not apply in case of death (for any reason) of an employee and in such instances all the options, SAR or any other benefit granted to such employee(s) shall vest with his/her legal heir or nominee on the date of death of the employee; and this relaxation shall be available to all such employees who have deceased on or after April 01, 2020. This Circular is issued in exercise of powers conferred by Section 11(1) of the Securities and Exchange Board of India Act, 1992
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