Key Details

  • The Nomination and Remuneration Committee (NRC) approved the grant of 1,59,672 Employee Stock Options (ESOPs) on September 09, 2026
  • Each ESOP has a face value of ₹10 and grant price of ₹195.53 per ESOP
  • Options granted to eligible employees of the Bank subject to necessary regulatory compliances
  • Each ESOP carries right to apply for and be allotted 1 Equity Share of face value ₹10 each
  • Maximum potential equity dilution: 1,59,672 Equity Shares if all options are exercised upon vesting

Pricing Formula

  • Grant/Exercise Price determined as previous day's closing price on stock exchange with highest trading volumes (Fair Market Price)
  • If Fair Market Price is lower than Book Value based on last Audited Results, Book Value becomes the deemed Fair Market Price

Vesting and Exercise Terms

  • Vesting schedule and conditions outlined in Letter of Grant to Option Grantee
  • Exercise Period: Five (5) years from date of vesting
  • Four (4) Exercise windows per financial year, each open for minimum 10 days
  • Option Grantee receives advance intimation about Exercise windows
  • All unexercised Options lapse after 5 years from vesting date with no separate lapse communication

Termination Scenarios

  • Upon resignation: All unvested options expire immediately
  • Vested options exercisable within 90 days from last service date or Exercise Period end date, whichever is earlier

Scheme Background

  • Suryoday ESOP Scheme-2019 initially approved by shareholders at AGM on September 26, 2019
  • Amended scheme approved at EGM on July 27, 2020
  • Ratification approved at AGM on September 20, 2021 per SEBI SBEB Regulations 2021
  • Modifications approved at AGMs on September 12, 2024 and August 06, 2026

Current Status

  • Options exercised: N.A.
  • Money realized by exercise: N.A.
  • Total shares from exercised options: N.A.
  • Options lapsed: N.A.
  • Variation of terms: N.A.
  • Diluted EPS impact: N.A.

Additional Information

  • Disclosure available on bank's website: https://suryoday.bank.in/investor-corner/#disclosure-to-stock-exchanges
  • Signed by Kanishka Chaudhary, Chief Financial Officer on September 09, 2026

Financial Impact

Financial impact not quantified in the disclosure as no options have been exercised yet. Potential equity dilution of up to 159,672 shares if all options are exercised.