INDIA - Clarification of Stock Option Rules - 25 July 2009
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By JOHN SATISH KUMAR (WSJ)
MUMBAI
-- India's capital markets regulator clarified late Friday that
employees of companies can subscribe to stock options even if they have
sold the firm's shares during the previous six months.
Employees, however, won't be permitted to buy the company's shares
within six months of selling stock options, the Securities &
Exchange Board of India said in a notice.
It said while exercising employee stock options, the code of conduct
framed by the company and "the fundamental principles for prohibition
of insider trading as specified in the regulations must be complied
with."
Employees will also have to wait for six months since
more...http://online.wsj.com/article/SB124850751383181207.html
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I am concerned this will mean employees cannot participate in ESPP if they have recently sold SOP. Does anyone have more details on this clarification? Thanks.