Ujjivan Small Finance Bank has announced a key board appointment, naming Aniruddha Paul as an Independent Director for a three-year term. The appointment will take effect from January 22, 2026, marking a strategic addition to the bank's leadership structure.

Board Appointment Details

The appointment details are outlined in the following table:

Governance Enhancement

This appointment represents Ujjivan Small Finance Bank's ongoing efforts to strengthen its board composition with experienced independent directors. Independent directors play a crucial role in corporate governance by providing objective oversight and strategic guidance to management.

Strategic Implications

The addition of Paul to the board is expected to enhance the bank's governance framework and contribute to its strategic decision-making processes. Independent directors bring valuable external perspectives and expertise that can help guide the institution's growth trajectory in the competitive small finance banking landscape.

The three-year tenure provides sufficient time for the new director to contribute meaningfully to the bank's strategic initiatives and governance practices. This appointment underscores Ujjivan Small Finance Bank's commitment to maintaining robust corporate governance standards as it continues to serve its target customer segments.

Ujjivan Small Finance Bank 's Nomination and Remuneration Committee has approved a significant employee stock option grant under its established compensation framework. The committee, in its meeting held on January 21, 2026, sanctioned the allocation of 2,83,559 stock options under the Bank ESOP Scheme 2019, demonstrating the bank's commitment to employee retention and motivation through equity participation.

Grant Details and Pricing Structure

The approved stock options carry specific terms designed to align employee interests with long-term bank performance. Each granted option provides the right to subscribe for one fully paid equity share upon vesting, creating a direct ownership stake for eligible employees.

The exercise price of ₹54.15 per share was determined using the bank's established pricing formula, representing the lower of two benchmarks: the last trading price on NSE as of January 20, 2026, or the three-month average of volume weighted average price of the bank's shares.

Vesting and Exercise Framework

The stock options follow a structured four-year vesting schedule designed to promote employee retention and sustained performance. The graduated vesting approach ensures employees remain committed to the bank's long-term objectives while providing increasing equity participation over time.

Once vested, option holders have a five-year window from their respective vesting dates to exercise their options and convert them into equity shares. This extended exercise period provides flexibility for employees to optimize their equity conversion timing based on market conditions and personal financial planning.

Regulatory Compliance and Governance

The ESOP grant operates under full regulatory compliance with SEBI guidelines and listing requirements. The scheme aligns with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, ensuring adherence to established governance standards for employee stock option programs.

The bank has fulfilled its disclosure obligations under Regulation 30 of SEBI LODR regulations, providing comprehensive details about the grant terms, pricing methodology, and vesting structure. This transparency supports investor confidence and regulatory compliance while maintaining clear communication about the bank's employee compensation strategies.

Strategic Implications

This ESOP grant represents a strategic human resource initiative aimed at attracting and retaining talent in the competitive banking sector. By offering equity participation, the bank creates alignment between employee performance and shareholder value creation, fostering a culture of ownership and long-term commitment among its workforce.