Karur Vysya Bank Allocates Shares Under ESOS Scheme for Key Management
Karur Vysya Bank Limited (KVB) has approved the allotment of equity shares under its KVB ESOS 2018 scheme to key personnel and senior management members in recognition of their performance.The Board of Directors considered and ratified the share allotments, which constitute a non-cash component of variable pay for various performance periods.
Shri B Ramesh Babu, MD & CEO of the Bank, was allocated 18,836 Equity Shares. These shares were allotted under the KVB ESOS 2018 Scheme and are designated as part of his non-cash variable pay corresponding to the fiscal year (FY) 2023-24 performance period.
Furthermore, the Bank allotted 25,824 Equity Shares to Senior Management Personnels (SMPs). This allotment under the KVB ESOS 2018 Scheme serves as a non-cash component of variable pay for these individuals and covers both the FY 2023-24 and FY 2024-25 performance periods.
The details of the share allotments are summarized below:
| Recipient Group | Shares Allotted | Face Value per Share | Scheme | Performance Period |
|---|---|---|---|---|
| Shri B Ramesh Babu, MD & CEO | 18,836 | ₹ 2 | KVB ESOS 2018 | FY 2023-24 |
| Senior Management Personnel | 25,824 | ₹ 2 | KVB ESOS 2018 | FY 2023-24 / 2024-25 |
KARURVYSYA Stock Price Movement
Karur Vysya Bank Limited shares slipped by 2.24% to close at ₹301.00, settling after a decline from its previous close of ₹309.80. The stock traded amidst an intraday range extending down to ₹296.15 and saw considerable activity with 7.93 million shares changing hands during the session.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.