Karnataka Bank Limited has announced the allotment of equity shares under its Employee Stock Option Scheme, marking another step in its employee incentive program. The bank informed stock exchanges about this corporate action on March 5, 2026.

Share Allotment Details

The bank has allotted equity shares to employees who exercised their vested stock options under the KBL Employees Stock Option Scheme 2018. The allotment was approved by the Managing Director & CEO on March 5, 2026.

Regulatory Compliance

The allotment has been made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Karnataka Bank has duly informed both the National Stock Exchange of India Limited and BSE Limited about this development.

The communication was signed by Sham K, Company Secretary & Compliance Officer, ensuring proper regulatory compliance and transparency in the share allotment process.

Employee Stock Option Scheme Background

The shares were allotted to employees and grantees who exercised their vested options under the KBL Employees Stock Option Scheme 2018. This scheme represents the bank's commitment to employee participation in the organization's growth and performance.

Karnataka Bank has officially announced the retirement of Mr. Ravichandran S., General Manager of the Legal & Recovery Department, who will be stepping down from his position on February 28, 2026, upon reaching superannuation age. The announcement was made through a regulatory filing to comply with disclosure requirements under SEBI regulations.

Senior Management Change Details

The bank has informed both the National Stock Exchange of India Limited and BSE Limited about this significant change in senior management personnel. Mr. Ravichandran S. will cease to be a Senior Management Personnel of the bank from the close of business hours on February 28, 2026.

Regulatory Compliance

The disclosure has been made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Karnataka Bank has also referenced SEBI Master Circular No.: SEBI/HO/49/14/14(7) 2025-CFD-POD2/1/3762/2026 dated January 30, 2026, in providing the required details about the retiring executive.

Corporate Communication

The formal communication was signed by Sham K, Company Secretary & Compliance Officer of Karnataka Bank, and was digitally signed on February 27, 2026. The bank's registered and head office is located at Mahaveera Circle, Kankanady, Mangaluru, and the company trades on stock exchanges under NSE scrip code KTKBANK and BSE scrip code 532652.

This retirement represents a routine senior management transition as part of the bank's normal succession planning process, with the change occurring due to the executive reaching the standard retirement age rather than any operational or strategic reasons.