The Board of Directors of the Company has at its meeting held today i.e. 14th September, 2022, inter alia considered and approved, formulation of Employee Stock Option Scheme, viz., Kansai Nerolac Paints Limited - Restricted Stock Unit Plan 2022, in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, with the authority to grant not exceeding 53,89,197 Restricted Stock Units to such employees as may be determined by the Nomination and Remuneration Committee in terms of the Plan, in one or more tranches, from time to time, which in aggregate shall be exercisable into not more than 53,89,197 equity shares of face value of Re. 1 each fully paid up, with each such RSU conferring a right upon the employees to apply for one equity share in the Company in accordance with the terms and conditions as may be decided under the Plan, subject to approval of the shareholders through postal ballot and such other regulatory/statutory approvals as may be necessary.