Axis Bank's board of directors has revised the vesting schedule for 185,537 stock options granted under the Axis Bank Employees Stock Option Scheme – 2000-01, following directions from the Reserve Bank of India and recommendations from the Nomination and Remuneration Committee. The vesting will now occur equally over four years at 25% each year, commencing after one year from the grant date.
Revision Details
The vesting of 185,537 options will now be equally distributed over four years, with 25% vesting each year starting after the first year from the grant date. This is a change from the previous vesting schedule of 30%, 30%, and 40% at the end of the first, second, and third years, respectively. All other terms and conditions of the grants, including the exercise price, remain unchanged.
Background and Rationale
The revision was prompted by directions received from the Reserve Bank of India and recommendations from the Nomination and Remuneration Committee. The board approved the changes on July 24, 2025.
Previous Vesting Schedule:
- Year 1: 30%
- Year 2: 30%
- Year 3: 40%
Revised Vesting Schedule:
- Year 1: 0%
- Year 2: 25%
- Year 3: 25%
- Year 4: 25%
- Year 5: 25%
Impact on Employees
The revised vesting schedule will affect employees holding options granted under the Axis Bank Employees Stock Option Scheme – 2000-01. The options will now vest equally over four years, providing a more gradual vesting process.
Regulatory Compliance
This decision complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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