South Indian Bank Grants 5.3 Lakh Options to MD & CEO
South Indian Bank Ltd. announced that its Board of Directors, at a meeting held on September 25, 2026, approved the grant of 5,30,916 stock options to Sri. P R Seshadri, Managing Director & CEO. This grant is part of the SIB ESOS Scheme-2008 and serves as non-cash variable pay for FY 2025-26, approved by the Reserve Bank of India. The options are priced at ₹23.54 each, representing a 50% discount on the market price of ₹47.08. Vesting will occur over 36 months, with 30% vesting after 12 months, another 30% after 24 months, and the remaining 40% after 36 months. The options can be exercised within five years from the vesting date. No options were granted to part-time Chairman or other non-executive directors.
Key Highlights
- 5,30,916 stock options granted to MD & CEO, P R Seshadri.
- Grant is under SIB ESOS Scheme-2008 as non-cash variable pay.
- Options priced at ₹23.54, a 50% discount on market price.
- Vesting schedule: 30% at 12 months, 30% at 24 months, 40% at 36 months.
- Options exercisable within 5 years from vesting date.
Price Impact
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