Re: Grant of Stock Options to Employees of the Bank
This is to inform you that the Nomination and Remuneration Committee of the Bank by a Circular Resolution dated January 18, 2022 (the date of Grant) has granted 1,031,524 equity stock options to the eligible employees of the Bank pursuant to the terms of DCB Bank Limited - Employees Stock Option Plan (the ESOP Plan) under Sub Plan I (Executive Vice President grade and above) at the Closing Market Price of INR 86.45 per equity share of the Bank, on January 17, 2022 at NSE (being the highest volume traded).
Subject to other Vesting Conditions of the ESOP Plan, the Vesting Schedule of the aforesaid 1,031,524 Options shall be as under:
33.33 % Options at the end of 1st year from the date of grant;
33.33 % Options at the end of 2nd year from the date of grant;
33.33 % Options at the end of 3rd year from the date of grant;
The above options shall expire, if not exercised within 10 (Ten) years from the respective dates of their vesting subject to the conditions for retirement, death etc. as specified in the ESOP Plan.
The Options granted as above are in terms of Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Kindly take note of the above in compliance with the provision of regulation 30 and other applicable provisions, if any, of the SEBI (Listing Obligations and Disclosure Requirements) regulations, 2015.
Thanking you,
Yours faithfully,
For DCB Bank Limited
RUBI CHATURVEDI
Digitally signed by
RUBI CHATURVEDI Date: 2022.01.19 22:10:11 +05'30'
Rubi Chaturvedi
Company Secretary &
Compliance Officer
DCB Bank Limited
Corporate & Registered Office: 6th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013
DCB Bank Limited published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 17:24:07 UTC.
DCB Bank Limited is an India-based banking company. The Bank is engaged in providing banking and financial services. The Bank operates through four segments: Treasury Operations, Wholesale Banking, Retail Banking and Other Banking Operations. Treasury Operations segment includes all financial markets activities undertaken on behalf of the Bankâs customers, trading, maintenance of reserve requirements and resource mobilization from other banks and financial institutions. The Wholesale Banking segment includes lending, deposit-taking and other services offered to corporate customers. Retail Banking segment includes lending, deposit-taking and other services offered to retail customers. Other Banking Operations segment includes para banking activities, such as third-party product distribution, merchant banking and other. The Bank operates through approximately 436 branches.