Ujjivan SFB Responds to IiAS on RSU Plan Approval

Ujjivan Small Finance Bank Ltd has issued a formal clarification in response to a voting recommendation from proxy advisor Institutional Investor Advisory Services (IiAS) dated July 9, 2026. The recommendation concerned the approval of the 'Ujjivan Restricted Stock Units Plan – 2026'. While IiAS supported six other AGM resolutions, it withheld support for the RSU resolution due to a lack of clarity on performance-based vesting criteria. Ujjivan SFB has provided detailed explanations, including specific grant and vesting conditions tied to achieving revenue and profit targets (not less than 105% of budgeted figures) and individual performance ratings ('Meets Expectations' or above). The bank commits to disclosing actual targets, performance achieved, and individual metrics in its annual reports to ensure transparency and align with governance practices, requesting IiAS to reconsider its stance.