Tamilnad Mercantile Bank Limited — Board Meeting, 17-01-2025: Outcome of Board Meeting

The Board has approved the adoption of the Employee Stock Option Plan (TMB ESOP 2024), allowing for up to 15,83,514 stock options to be granted to eligible employees. This plan is pending shareholder approval through a Special Resolution. The exercise price will be determined by the Compensation Committee and cannot be below the face value of ₹10 per share. The vested options must be exercised within three years from vesting. The plan is designed to support employee retention and incentivize performance.