CSB Bank on Thursday announced the allotment of 5,65,168 equity shares to employees as share option under CSB Employee Stock Option Scheme 2019, the company announced through an exchange filing.
The face value of the equity shares will be ₹10 each fully paid-up of the Bank, at an exercise price of ₹289.30 per equity share.
The Scheme has been formulated and approved by the Shareholders of the Bank pursuant to the provisions of the SEBI Regulations, 2014 which has been replaced by the SEBI Regulations, 2021.
The said options shall vest, as under:
(i) 25 percent of the options granted (rounded off to the nearest 100) shall vest on completion of 12 months from the grant date i.e. on July 20, 2024.
(ii) 25 percent of the options granted (rounded off to the nearest 100) shall vest on completion of 24 months from the grant date i.e. on July 20, 2025.
(iii) 25 percent of the options granted (rounded off to the nearest 100) shall vest on completion of 36 months from the grant date i.e. on July 20, 2026.
(iv) Balance options granted shall vest on completion of 48 months from the grant date i.e. on July 20, 2027.
CSB Bank shares
The shares of CSB Bank on Thursday at 11:24 am IST were at ₹292.40, up by 1.07 percent.
