Bandhan plans more ESOPS
Mumbai: Bandhan Bank has sought shareholders’ approval to increase the total number of options under the “Bandhan Bank Employee Stock Option Plan” in order to attract, retain, incentivise and motivate talents.
In its annual report 201819, the Kolkata-based micro-credit-institutionturned-full-fledged commercial bank said the plan to incentivise talents through Bandhan Bank Employee
BANDHAN BANK Stock Option Series 1 (ESOP Plan Series 1) was approved prior to its initial public offer in 2018.
It was approved by its Board on July 26, 2017, with an initial stock option reserve of 5,47,57,052 options, and was approved by the members of the bank by way of a special resolution on November 23, 2017.
However, only 22,20,725 options could be granted through special resolutions dated November 23, 2017, and December 20, 2017. Hence, the quantum of options as originally approved for the grant prior to IPO has been exhausted, the bank said in its annual report. Turn to p2