HDFC Bank Limited has informed the Exchange regarding Notice of Postal Ballot
HDFCBANK · price
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HDFC Bank is seeking shareholder approval via postal ballot to extend its Employee Stock Incentive Plan 2022 by 5 years, from May 13, 2026 to May 13, 2031. The plan grants Restricted Stock Units (RSUs) to employees for retention and performance. No additional RSUs are being approved beyond the original 10 crore (100 million) approved in May 2022. As of April 2026, approximately 15.09 crore RSUs remain available for grant after accounting for previous grants and the 1:1 bonus issue in August 2025. Key amendments include increasing the maximum RSU limit per employee from 30,000 to 50,000 per annum, updating committee references, and adding provisions for disciplinary-related RSU treatment. Voting runs from April 21 to May 20, 2026.
Approval ensures HDFC Bank can continue its equity-based employee retention program without increasing potential dilution beyond previously approved levels. The higher individual RSU cap may help attract senior talent but has minimal shareholder impact as the total pool remains unchanged.