Revision in Vesting Period - ESOS

Axis Bank Limited
24 January 2024
 


AXIS/CO/CS/567/2023-24

January 24, 2024 

Dear Sir(s),

 

Sub.:  Revision in Vesting Period - Axis Bank Employees Stock Option Scheme - 2000-01

 

Ref.:  Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations").

 

In furtherance to our letter no. AXIS/CO/CS/615/2022-23 dated March 24, 2023 on the captioned subject, we wish to inform you that, based on the directions received from the Reserve Bank of India and on recommendations of the Nomination and Remuneration Committee, the Board of Directors of Axis Bank Limited has today i.e. January 24, 2024, noted the revision in the vesting period for 5,24,862 stock options granted under Axis Bank Employees Stock Option Scheme - 2000-01. These options shall now vest equally over 4 (four) years @ 25% every year (commencing on expiry of one year from the date of grant) as compared to vesting of 30%, 30% and 40% options at the end of one year, two year and third year, respectively.

 

All other terms and conditions of the above grants, including exercise price, remains unchanged.

 

Please note that the Board Meeting commenced at 9:30 a.m. and concluded at 3:20 p.m.

 

This is for your information and records.

 

Thanking You.

 

Yours Sincerely,

For Axis Bank Limited

 

 

 

 

Sandeep Poddar

Company Secretary

 

CC: London Stock Exchange

     Singapore Stock Exchange


http://www.rns-pdf.londonstockexchange.com/rns/7896A_1-2024-1-24.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings