South Indian Bank Ltd. has made a regulatory disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI (Share Based Employee Benefit and Sweat Equity) Regulations, 2021.
The Board of Directors, at its meeting held on August 20, 2026, approved the grant of 27,36,230 employee stock options under Tranche 21 of the SIB ESOS Scheme-2008. These options were granted to 306 eligible employees as part of their non-cash variable pay/incentive for the Financial Year 2025-26.
Key Details of Options Granted:
- Total Options: 27,36,230 options
- Eligible Employees: 306
- Purpose: Non-cash variable pay/incentive for FY 2025-26
- Scheme Compliance: In terms of SEBI (SBEB&SE) Regulations, 2021
- Total Shares Covered: 27,36,230 shares of face value ₹1 each (if fully exercised)
Pricing Formula:
- Based on Black Scholes Model
- Option premium: ₹30.96 per option
- Exercise price: ₹22.50 (50% discount on market price)
- Market price reference: ₹45.00 (NSE closing price on August 19, 2026)
- The NSE closing price was used as it recorded the highest trading volumes in the bank's equity shares
- Pricing was computed by a Registered Valuer and recommended to the Board by the Nomination and Remuneration Committee
Vesting Schedule:
- 30% will vest after 12 months from date of grant
- 30% will vest after 24 months from date of grant
- 40% will vest after 36 months from date of grant
Exercise Period:
Options may be exercised within 5 years from the vesting date.
Additional Information:
- No options have been exercised yet (N.A)
- No money realized by exercise of options (N.A)
- Options will lapse as per the SIB ESOS Scheme 2008 provisions
- No variation of terms of options (N.A)
- All terms and conditions are as per the SIB ESOS Scheme 2008
- No subsequent changes/cancellation/exercise of options (N.A)
- Diluted earnings per share impact: Not applicable (N.A)
The intimation was digitally signed by Jimmy Mathew, Company Secretary, on August 20, 2026 at 20:08:11 +05:30.