General Announcement::Granting of options under Employee Stock Option Scheme- ESOS 27

Issuer & Securities

Issuer/ Manager
HDFC BANK LIMITED
Securities
HDFC BANK US$500M3%N180306 - XS0897434949 - 2QPB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
06-Apr-2017 19:08:09
Status
New
Announcement Sub Title
Granting of options under Employee Stock Option Scheme- ESOS 27
Announcement Reference
SG170406OTHRTBKB
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Senior Manager
Effective Date and Time of the event
06/04/2017 17:00:00
Description (Please provide a detailed description of the event in the box below)
We wish to inform you that the Nomination and Remuneration Committee of the Bank has granted 1,68,65,850 equity stock options of the face value of Rs. 2/- each to the eligible employees of the Bank at the grant price of Rs.1433.20. ( Indian Rupees One Thousand Four Hundred Thirty Three and Paise Twenty Only) on 4th April 2017.

Vesting of the options shall happen in three stages, based on the assessment of performance at the time of vesting:

40% of the options rounded off to nearest 100 shall vest upon completion of fifteen months from the date of grant
30% of the options rounded off to nearest 100 shall vest upon completion of twenty seven months from the date of grant
Balance options shall vest upon completion of thirty nine months from the date of grant

The vested options need to be exercised within a period of four years from the respective dates of their vesting, failing which, they shall lapse forthwith.

Under the current Scheme, 7,01,600 options are being granted to Mr. Aditya Puri, Managing Director, 3,19,000 options to Mr. Paresh Sukthankar, Deputy Managing Director and 2,32,000 options to Mr. Kaizad Bharucha, Executive Director, all subject to the approval of the Reserve Bank of India.

The options were granted under the Scheme titled ESOS 27 in terms of SEBI (Share Based Employee Benefits) Regulations, 2014.

We request you to kindly take note of the same.

Attachments

SGX.pdf
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