In compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015, we hereby inform that the Compensation Committee at its meeting held yesterday, May 12, 2021 had approved grant of 90,000 Stock Options (convertible into 90,000 Equity shares of the Bank, upon exercise) to 8 Eligible Employees in terms of the ESOP Scheme.
The main terms of the grant are mentioned below:
1. Grant Price: Rs.948.85 per share (Close Price on NSE on Tuesday, May 11, 2021, viz., previous day's Close Price at the Stock Exchange having the highest trading volume).
2. Vesting Period: 3 years from date of grant, spread at 33%, 33% and 34% at the intervals of one year from the date of grant.
3. Exercise Period: 5 years from date of vesting.
This disclosure is being made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
We request you to take the above information on record.