Karnataka Bank Limited has completed the allotment of equity shares under its employee stock option scheme, marking another step in its employee incentive program. The bank announced that 17,501 equity shares have been allotted to employees who exercised their vested stock options under the established scheme.

Share Allotment Details

The allotment was executed on February 9, 2026, with approval from the Managing Director & CEO. The shares carry specific parameters that define their value and structure within the bank's equity framework.

Regulatory Compliance

The allotment was conducted in accordance with regulatory requirements, specifically under Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Karnataka Bank has informed both the National Stock Exchange of India Limited and BSE Limited about this corporate action, ensuring full transparency and compliance with listing obligations.

Employee Stock Option Scheme Framework

The shares were allotted to employees and grantees who exercised their vested options under the KBL Employees Stock Option Scheme 2018. This scheme represents part of the bank's broader employee incentive and retention strategy, allowing eligible employees to acquire equity stakes in the organization. The exercise of vested options demonstrates employee confidence in the bank's prospects and provides them with direct participation in the institution's growth.

Corporate Communication

The announcement was made through official communication to stock exchanges, with Company Secretary & Compliance Officer Sham K signing the disclosure document. The bank maintains its registered and head office at Mahaveera Circle, Kankanady, Mangaluru, and continues to ensure proper dissemination of material information to stakeholders and regulatory bodies.

Karnataka Bank 's Board of Directors has approved the re-appointment of two Independent Directors for extended three-year terms, reinforcing the bank's commitment to strong corporate governance. The decision was taken during a Board meeting held on January 27, 2026, following recommendations from the Nomination & Remuneration Committee.

Director Re-appointments Approved

The Board has approved the re-appointment of the following Non-Executive Independent Directors:

Regulatory Compliance and Approval Process

The re-appointments are subject to shareholder approval as mandated by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and applicable provisions of the Companies Act, 2013. The bank has confirmed compliance with regulatory requirements, stating that both directors have not been debarred from holding directorial positions by SEBI or any other regulatory authority.

Director Profiles and Experience

Dr. D S Ravindran brings extensive administrative expertise as a PhD holder and Indian Forest Service Officer from the 1986 batch. His 34+ years of experience spans:

• Public policy and e-governance initiatives
• Forestry and renewable energy sectors
• Financial systems and large-scale technology implementation
• Leadership roles including CEO, Centre for e-Governance, and Principal Secretary, Finance Department, Government of Karnataka

He has been serving as Karnataka Bank's Non-Executive Independent Director since April 1, 2021, and currently works as Consulting Advisor to the Treasury Department, Government of Karnataka.

Mr. Balakrishna Alse S is a B.Sc. (Agriculture) graduate and Certified Associate of Indian Institute of Bankers (CAIIB) with over 35 years of banking experience. His expertise includes:

• Credit and risk management
• Cybersecurity and HR operations
• Branch operations at Corporation Bank
• Executive Director role at Oriental Bank of Commerce
• Officer on Special Duty at Punjab National Bank during amalgamation

He has served as Karnataka Bank's Non-Executive Independent Director since May 26, 2021.

Meeting Details

The Board meeting commenced at 10.30 AM and concluded at 8.15 PM on January 27, 2026. The bank has confirmed that both directors are not related to any other directors on the Board, maintaining independence requirements. The re-appointments demonstrate the bank's focus on retaining experienced leadership while ensuring regulatory compliance and effective governance oversight.