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

 

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