Jha Rakesh 4

What Happened
Rakesh Jha, a director of ICICI Bank Ltd. (IBN), exercised 134,850 stock options on April 17, 2026 at an exercise price equivalent to $3.64 per share (total $490,854) and the same 134,850 shares were reported as disposed the same day. The filings show an exercise/conversion (transaction code M) and a simultaneous disposition of the resultant shares.

Key Details

• Transaction date: 2026-04-17; Form 4 filed: 2026-04-21 (filed within the reporting window).
• Exercise price reported (USD equivalent): $3.64/share; total value shown: $490,854.
• Shares acquired by exercise: 134,850. Shares disposed (same day): 134,850.
• Footnote F1: Rupee-denominated exercise prices translated to USD at INR 92.90 = $1.00 (Fed rate on Apr 17, 2026).
• Footnote F2: These options were part of a 449,500 grant from May 9, 2020 with three vesting tranches; the 134,850 tranche exercised here vested May 9, 2021 and was due to expire May 8, 2026 and has been fully exercised.
• Shares owned after the transaction: not specified in the public filing.

Context

• The paired “acquired” and immediate “disposed” entries indicate the options were exercised and the resulting shares sold the same day (a common cashless exercise or sell-to-cover pattern), rather than a buy-and-hold purchase.
• This is a routine form of insider liquidity; it is factual reporting of the exercise and sale and does not by itself indicate change in the director’s view of the company.