HDFC Bank informs about granting of options under ESOS

HDFC Bank Ltd. | Bank - Private | BFSI | BSE: 500180 | NSE: HDFCBANK

25 Jan 2023 Evaluate

Pursuant to the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, HDFC Bank has informed that the Nomination and Remuneration Committee of the Bank has on January 24, 2023 granted 52,700 equity stock options of the face value of Re 1 (‘options’) each at the grant price of Rs 1,673.10 in terms of the ESOP Master Scheme ESOS - Plan G-2016. The grant shall be subject to the necessary regulatory approvals as may be required. Vesting of the options shall happen in four stages as under, 25% of the options granted (rounded off to the nearest 100) shall vest on completion of twelve months from the date of grant on January 24, 2024, 25% of the options granted (rounded off to the nearest 100) shall vest on completion of twenty-four months from the date of grant on January 24, 2025, 25% of the options granted (rounded off to the nearest 100) shall vest on completion of thirty-six months from the date of grant on January 24, 2026 and Balance units shall vest on completion of forty-eight months from the date of grant on January 24, 2027. The vested options need to be exercised within a period of four years from the respective dates of their vesting, failing which, they shall lapse forthwith. The options have been granted under the Scheme titled ‘ESOS 43’ in terms of SEBI Regulations as amended from time to time.

The above information is a part of company’s filings submitted to BSE.