HDFC Bank Grants 13.02 Lakh Stock Options

HDFC Bank Ltd announced that its Governance, Nomination and Remuneration Committee (GNRC) has granted 13,02,379 equity stock options under its ESOS – Plan H-2024 (ESOS 065). Each option has a face value of Re. 1/- and a grant price of Rs. 692.80. These options are convertible into one equity share each upon vesting and exercise. Vesting will occur in four stages over 48 months, with 25% vesting at 12, 24, 36, and 48 months from the grant date. Vested options must be exercised within four years of their vesting date, otherwise they will lapse. The grant is in compliance with SEBI regulations.