The South Indian Bank Limited — Others, 29-11-2024: ESOP/ESOS/ESPS

The South Indian Bank Ltd. has announced a board meeting to grant 8,66,738 options to Managing Director & CEO, Sri. P R Seshadri, under the 17th tranche of its ESOS Scheme 2008. This is part of the approved non-cash variable pay structure, complying with RBI guidelines. Options will vest over three years and can be exercised within five years from the vesting date.

This move may enhance management alignment with shareholder interests, potentially creating a positive outlook among investors. The market price for option valuation was set at ₹24.03, reflecting current trading activity.