Gupta Ajay K 4

What Happened
Ajay K. Gupta, a director of ICICI Bank Ltd (IBN), exercised 52,020 stock options on April 17, 2026 (derivative code M) at an exercise price translated to $3.64 per share, resulting in a USD-equivalent value of $189,353. The filing also shows a simultaneous disposition of the 52,020 shares (derivative sale), indicating the exercised shares were sold/removed from the reporting position on the same date.

Key Details

• Transaction date: 2026-04-17. Report filed: 2026-04-21 (appears timely under Form 4 rules).
• Exercise / acquisition: 52,020 shares @ $3.64 (USD equivalent) = $189,353.
• Disposition: 52,020 shares @ $3.64 (derivative sale) = $189,353.
• Shares owned after transaction: not disclosed in this Form 4.
• Footnote F1: Exercise prices are denominated in Indian rupees; USD amounts use INR 92.90 = $1.00 (Federal Reserve rate on 2026-04-17).
• Footnote F2: These options were part of a 173,400-option grant (May 9, 2020) that vests in three tranches; the 52,020-tranche that vested May 9, 2021 (expiring May 8, 2026) was fully exercised prior to expiration.

Context
This filing shows an option exercise coupled with an immediate disposition of the resulting shares (a common outcome for exercises to cover exercise cost, taxes, or to realize gains). The transaction relates to a previously granted option tranche that was about to expire, per the filing footnote; remaining vested tranches (52,020 and 69,360 options) have later expiries in 2027 and 2028. The Form 4 does not state motivations and should be read as routine insider option exercise/sale activity.