Bandhan plans more...
“As such, it is thought expedient to seek approval for grant of 5,25,36,327 additional quantum of options which along with already approved/ granted options, in aggregate, shall not exceed 5,47,57,052 options, with a view to rationalise equitybased compensation in preference over cash-based incentives for the increasing number of talent of the bank, at present and in future. In this background, it is thought expedient to increase the total number of options under the plan as stated above exercisable into an equal number of equity shares of the bank, with all other terms remaining the same under the plan as ratified,” according to the annual report.
It said that the Nomination and Remuneration Committee of the board of directors and the board of directors of the bank have approved the aforesaid proposals at their meetings held on May 01-02, 2019, respectively.
Subject to final determination by the committee, a permanent employee of the bank, or a whole-time or executive director of the Bank, shall be eligible to participate in the Plan. However, the plan is not eligible for an employee, who is a promoter or belongs to the promoter group or an independent director of the bank.