Dhanlaxmi Bank Approves Formulation of Employee Stock Option Plan 2025
The Board of Directors of Dhanlaxmi Bank Limited has approved the formulation of the 'Dhanlaxmi Bank Limited Employee Stock Option Plan 2025' (ESOP 2025). This approval follows a recommendation by the Nomination and Remuneration Committee.Under ESOP 2025, the bank holds the authority to grant up to 27,628,919 employee stock options. The plan is designed for eligible employees as determined by the Nomination and Remuneration Committee.
While the plan has been approved at the board level, no grants are currently being made under ESOP 2025 as it remains subject to the approval of the Bank's members (shareholders).
Details regarding the options granted are as follows:
| Particulars | Details |
|---|---|
| Total number of options authorized | 27,628,919 |
| Shares covered by options | 27,628,919 equity shares |
| Face value per share | Rs. 10/- (Rupees Ten only) |
| Pricing Formula | The exercise price equals the market price of the share on the date of grant, specifically the latest available closing price on a recognized stock exchange with the highest trading volume on the day immediately prior to the grant. |
Key terms of ESOP 2025 include:
- Options Vested: Not applicable at this stage.
- Exercise Period: The exercise period for vested options is set at four years after each vesting date.
- Significant Terms: Significant details related to the options will be disclosed in the explanatory statement forming part of the annual general meeting notice.
The bank confirmed that ESOP 2025 adheres to relevant regulations regarding Share Based Employee Benefits and Sweat Equity.
DHANBANK Stock Price Movement
Dhanlaxmi Bank Limited shares closed today, shedding 0.53% and settling at ₹32.22 in the post-market trading session. The stock saw buying and selling activity recorded over a range of ₹31.89 to ₹32.43, with 468,948 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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