Mahindra & Mahindra Limited has successfully transferred 20,516 equity shares from its Employee Stock Option Trust to 49 stock option grantees on April 7, 2026. The transfer was executed following the exercise of stock options granted under the company's Employee Stock Option Scheme, as communicated to stock exchanges through an official filing.

ESOP Share Transfer Details

The company's Employee Stock Option Trust transferred shares to employees across various allocation sizes, demonstrating the broad-based nature of the employee stock option program. The transfer encompasses a diverse group of beneficiaries with varying share allocations based on their respective stock option grants.

Key Beneficiaries and Allocations

The share distribution shows significant variation in allocation sizes among the grantees. The top five recipients by share count include:

• Shriprakash Shukla: 5,086 shares
• Jinesh Jain: 3,253 shares
• Sasidhar Kanigelpula: 1,700 shares
• Jay Rungta: 1,626 shares
• Yogaraja Venkatraman: 1,500 shares

The remaining 44 employees received allocations ranging from 25 to 889 shares, reflecting the tiered structure of the company's stock option scheme.

Regulatory Compliance

Company Secretary Sailesh Kumar Daga signed the notification digitally on April 7, 2026, ensuring compliance with exchange listing requirements. The communication was sent to multiple exchanges where the company's shares are listed:

• National Stock Exchange of India Limited (Scrip Code: M&M)
• BSE Limited (Scrip Code: 500520)
• Luxembourg Stock Exchange
• London Stock Exchange Plc

This transfer represents the fulfillment of the company's undertaking given to exchanges at the time of listing shares that were initially allotted to the Employee Stock Option Trust, demonstrating the company's commitment to transparent governance and employee participation in equity ownership.

Mahindra & Mahindra has successfully transferred 55,457 equity shares to 67 employees through its Employee Stock Option Trust on March 24, 2026. The transfer was executed pursuant to the exercise of stock options granted under the company's Employee Stock Option Scheme, demonstrating the company's commitment to employee ownership and retention.

Transfer Details and Compliance

The automotive major notified multiple stock exchanges about this transaction, including the National Stock Exchange of India, BSE Limited, Luxembourg Stock Exchange, and London Stock Exchange. This notification fulfills the company's compliance obligations under the undertaking given at the time of listing shares that were allotted to the Mahindra & Mahindra Employees' Stock Option Trust.

Share Distribution Analysis

The share allocation among the 67 beneficiaries shows considerable variation based on individual entitlements:

Key Beneficiaries

Among the notable allocations, several employees received substantial share transfers:

• Amit Kumar Sinha: 16,300 shares (largest allocation)
• K N Vaidyanathan: 4,000 shares
• Nirav Sanghvi: 2,623 shares
• K Prasad: 2,316 shares
• Aditya Thangeda: 2,248 shares

Employee Stock Option Scheme Impact

The transfer represents a significant milestone in Mahindra & Mahindra's employee engagement strategy. The wide range of allocations, from 25 shares to over 16,000 shares, reflects the diverse roles and tenure of employees participating in the scheme. This ESOP execution strengthens the alignment between employee interests and company performance while providing employees with direct ownership stakes in the organization.

Regulatory Framework

The transaction was formally documented and signed by Company Secretary Sailesh Kumar Daga, ensuring proper corporate governance protocols were followed. The comprehensive notification to multiple international exchanges underscores Mahindra & Mahindra's commitment to transparency and regulatory compliance across all its listing jurisdictions.