ESOP21 Aug 2026, 01:23 pm
South Indian Bank Grants 27.36 Lakh Options Under ESOS
AI Summary
South Indian Bank Ltd. announced the grant of 27,36,230 stock options to 306 eligible employees under Tranche 21 of its SIB ESOS – 2008 scheme. This grant is part of the employees' non-cash variable pay/incentive for the Financial Year 2025-26. The options are priced using the Black Scholes Model, with an option premium of ₹30.96 per option and an exercise price of ₹22.50, representing a 50% discount on the market price of ₹45.00. Vesting will occur in tranches over 12, 24, and 36 months, with exercise possible within five years from the vesting date. The Board meeting where this decision was made commenced at 02:15 p.m. and concluded at 05:45 p.m. on August 20, 2026.
Key Highlights
- 27.36 lakh stock options granted to 306 employees.
- Grant is for FY25-26 non-cash variable pay/incentive.
- Exercise price set at ₹22.50, a 50% discount to market price.
- Vesting schedule: 30% at 12 months, 30% at 24, 40% at 36 months.
- Options exercisable within 5 years post-vesting.
Price Impact
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