Band­han plans more...

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - From p1

“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.

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