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In view of the pandemic situation and to provide relief to the families of deceased employees of listed companies, SEBI has waived the one-year cooling-off period for vesting of stock options after death.
“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,” SEBI said in a circular to all listed companies.
The relaxation shall be applicable for all such employees who died on or after April 1, 2020.
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