Bandhan Bank granted 1,04,87,996 equity stock options to eligible employees on September 5, 2026. The board approved the issuance under its Employee Stock Option Plan Series 1, Tranche 8.

The grant price was set at ₹164.95 per option, based on the closing price on the National Stock Exchange of India Limited on September 4, 2026. Each option carries the right to apply for one equity share of face value ₹10 each.

Vesting and Exercise Terms

The stock options vest in equal tranches over a four-year period from the date of grant:

• 25% vests after one year
• 25% vests after two years
• 25% vests after three years
• 25% vests after four years

Employees may exercise the options within five years from the respective vesting dates. The plan complies with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Regulatory Disclosures

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 10:00 am and concluded at 7:05 pm.

Bandhan Bank board approved the reappointment of its executive director and made key changes to senior management roles during a meeting held on September 5, 2026. The decisions include extending the tenure of the Chief Business Officer and appointing a new Chief of Internal Vigilance.

The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, recommended to the Reserve Bank of India the reappointment of Mr. Rajinder Kumar Babbar as Whole-time Director. He will serve as Executive Director and Chief Business Officer for three years starting March 8, 2027. This appointment requires RBI and shareholder approval.

Senior Management Changes

The bank also approved several other key appointments and extensions:

• Chief Compliance Officer: Mr. Amitava Goswami was reappointed for three years effective November 29, 2026.
• Chief Audit Executive: Mr. Sandip Kumar Bubna’s interim tenure was extended by four months until February 26, 2027, or until a permanent candidate joins.
• Chief of Internal Vigilance: Mr. Nitin Arora was appointed for three years starting September 22, 2026. He replaces Mr. Prakash E, whose interim role ended upon Mr. Arora’s joining.

Mr. Babbar brings over 35 years of banking experience, including more than 23 years with HDFC Bank where he led rural banking and infrastructure finance. Mr. Arora has 30 years of experience, previously serving as Chief of Internal Vigilance at Axis Bank since October 2023.