Bandhan Bank employees get stock options as reward

Bandhan Bank has informed the Indian stock exchanges regarding the grant of stock options. The bank stated that as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR), the Nomination and Remuneration Committee of the Bank has granted 40,500 equity stock options to eligible employees of the Bank on February 17, 2023. The face value of each option is Rs. 10 and the grant price is Rs. 242.10 per option.
Last week, Bandhan Bank informed the Indian stock exchanges that its Nomination and Remuneration Committee has granted stock options to eligible employees at a grant price of ?242.10 per option. A total of 40,500 Bandhan Bank shares have been made available for grant. The grant price of ?242.10 has been determined based on the close price on Thursday of the previous week. This information was conveyed to the Indian bourses through the bank’s latest exchange communication.
The options cover 40,500 equity shares of the Bank, with each option allowing the holder to apply for and be allotted one equity share of the Bank with a face value of Rs. 10 each.
The Nomination and Remuneration Committee of the Bank granted 40,500 ESOPs to eligible employees under the ‘Bandhan Bank Employee Stock Option Plan – Series 1’ – Tranche 5.
The ESOPs were granted at the latest closing price prevailing on the National Stock Exchange of India Limited on February 16, 2023, which was the previous trading day before the approval of the grant by the Nomination and Remuneration Committee, as per SEBI SBEBSE and the ESOP Series 1 provisions.

The options can be exercised within a maximum of five years from the date they vest.
The ESOPs will vest as follows:
a) 25% after one year from the grant date
b) 25% after two years from the grant date
c) 25% after three years from the grant date
d) 25% after four years from the grant date