Mahindra & Mahindra Trust Transfers Shares Under ESOP

Mahindra & Mahindra Limited has filed details regarding the transfer of shares from the Mahindra & Mahindra Employees' Stock Option Trust to various employees. This action is in compliance with the undertaking given at the time of share listing. The transfer, executed on September 22, 2026, involved the exercise of stock options granted under the company's Employees' Stock Option Scheme. Annexure I lists 172 stock option grantees who received equity shares, with the majority receiving 9 shares each, and a smaller group receiving 8 or 4 shares. This move reflects the company's ongoing employee stock option program.