The South Indian Bank Limited has informed the Exchange regarding Grant of 828179 Options.
SOUTHBANK · price
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The South Indian Bank has granted 8,28,179 stock options to its Managing Director and CEO, P R Seshadri, under Tranche 18 of its Employee Stock Option Scheme (ESOS 2008). These options form part of the non-cash variable pay approved by the RBI for FY 2024-25 and are valued at Rs. 1.67 Crores in total. The exercise price is set at Rs. 14.78 per share, which is a 50% discount on the market price of Rs. 29.55 (NSE closing price on September 22, 2025). An option premium of Rs. 20.21 per option has been determined using the Black Scholes pricing model. The options will vest in three tranches — 30% after 12 months, 30% after 24 months, and 40% after 36 months — with a 5-year exercise window from each vesting date. No options have been granted to the Part-time Chairman or other Non-Executive Directors.
This is a routine compensation-related disclosure and is in compliance with RBI guidelines on variable pay for bank CEOs, so it should not be a negative surprise. Shareholders should note a potential minor dilution of up to 8.28 lakh shares (face value Re.1 each) if all options are fully exercised, but the impact on overall equity is small.