Gupta Ajay K 4

4 · ICICI BANK LTD · Filed Apr 23, 2026

Research Summary

AI-generated summary of this filing

Updated Apr 23, 2026

ICICI Bank Director Ajay K. Gupta Exercises and Sells 80,300 Shares

What Happened
Ajay K. Gupta, a director of ICICI Bank Ltd. (IBN), exercised a series of stock options on April 21, 2026 and the resulting shares were disposed the same day (cashless exercise/sale). The transactions consisted of four option tranches totaling 80,300 shares, exercised at the following per-share USD-equivalent exercise prices and totals:

31,350 shares @ $3.02 = $94,677
7,950 shares @ $2.54 = $20,193
33,000 shares @ $2.30 = $75,900
8,000 shares @ $1.65 = $13,200
Aggregate proceeds (USD-equivalent) = $203,970. These were option exercises (SEC code M) with matching disposals recorded the same day.

Key Details

Transaction date: April 21, 2026; Form 4 filed April 23, 2026 (appears timely under normal 2-business-day rule).
Options exercised and shares disposed the same day (cashless exercise / immediate sale).
Total shares exercised and sold: 80,300; total USD-equivalent proceeds: $203,970.
Shares owned after transaction: not specified in the provided excerpt of the Form 4.
Notable footnotes:
- F1: Exercise prices were denominated in INR and translated to USD using 1 USD = INR 92.90 (Fed Reserve H.10, Apr 17, 2026).
- F2–F5: These options were from grants in 2012–2015 with multiple vesting tranches; the exercised tranches included options that were vested and/or nearing expiry in April 2026 (the filing shows several tranches expiring in April 2026).
Transaction codes: M = exercise/conversion of derivative; the reported disposals are derivative-related (resulting shares sold).

Context
Because the exercised shares were sold the same day, this was effectively a cashless exercise (options converted to shares and then sold, typically to cover the exercise cost or tax withholding). This type of transaction is common when options are close to expiration and does not by itself indicate a change in the director’s longer-term view of the company. No 10% owner or gift/award indications are shown in the provided data.

Insider Transaction Report

Form 4

Period: 2026-04-21

ICICI BANK LTDIBN

Gupta Ajay K

Director

Transactions

Exercise/Conversion
Equity Shares, par value Rs. 2 per share
[F1]
2026-04-21$3.02/sh+31,350$94,677→ 31,350 total
Exercise/Conversion
Equity Shares, par value Rs. 2 per share
[F1]
2026-04-21$2.54/sh+7,950$20,193→ 7,950 total
Exercise/Conversion
Equity Shares, par value Rs. 2 per share
[F1]
2026-04-21$2.30/sh+33,000$75,900→ 33,000 total
Exercise/Conversion
Equity Shares, par value Rs. 2 per share
[F1]
2026-04-21$1.65/sh+8,000$13,200→ 8,000 total
Exercise/Conversion
Stock Option (Right to Buy)
[F1][F2]
2026-04-21$3.02/sh−31,350$94,677→ 73,150 total
Exercise: $3.02→ Equity Shares, par value Rs. 2 per share (31,350 underlying)
Exercise/Conversion
Stock Option (Right to Buy)
[F1][F3]
2026-04-21$2.54/sh−7,950$20,193→ 50,600 total
Exercise: $2.54→ Equity Shares, par value Rs. 2 per share (7,950 underlying)
Exercise/Conversion
Stock Option (Right to Buy)
[F1][F4]
2026-04-21$2.30/sh−33,000$75,900→ 33,000 total
Exercise: $2.30→ Equity Shares, par value Rs. 2 per share (33,000 underlying)
Exercise/Conversion
Stock Option (Right to Buy)
[F1][F5]
2026-04-21$1.65/sh−8,000$13,200→ 0 total
Exercise: $1.65→ Equity Shares, par value Rs. 2 per share (8,000 underlying)

Footnotes (5)

[F1]The exercise prices of the stock options are denominated in Rupee and translated for convenience only into USD at the rate of INR92.90 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on April 17, 2026.
[F2]A total of 104,500 stock options granted on April 27, 2015 and vesting in three tranches: (i) 31,350 vested on April 27, 2016 and expiring on April 26, 2026, which have been fully exercised by the Reporting Person in Reported Transaction (ii) 31,350 vested on April 27, 2017 and expiring on April 26, 2027, and (iii) 41,800 vested on April 27, 2018 and expiring on April 26, 2028.
[F3]A total of 126,500 stock options granted on April 25, 2014 and vesting in three tranches: (i) 37,950 vested on April 25, 2015 and expired on April 24, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 37,950 vested on April 25, 2016 and expiring on April 24, 2026, 30,000 of which have been exercised by the Reporting Person prior to expiration and 7,950 of which have been exercised by the Reporting Person in Reported Transaction and (iii) 50,600 vested on April 25, 2017 and expiring on April 24, 2027.
[F4]A total of 110,000 stock options granted on April 26, 2013 and vesting in four tranches: (i) 22,000 vested on April 26, 2014 and expired on April 25, 2024, which have been fully exercised by the Reporting Person prior to expiration, (ii) 22,000 vested on April 26, 2015 and expired on April 25, 2025, which have been fully exercised by the Reporting Person prior to expiration (iii) 33,000 vested on April 26, 2016 and expiring on April 25, 2026, which have been fully exercised by the Reporting Person in Reported Transaction and (iv) 33,000 vested on April 26, 2017 and expiring on April 25, 2027.
[F5]A total of 110,000 stock options granted on April 27, 2012 and vesting in four tranches: (i) 22,000 vested on April 27, 2013 and expired on April 26, 2023, which have been fully exercised by the Reporting Person prior to expiration, (ii) 22,000 vested on April 27, 2014 and expired on April 26, 2024, which have been fully exercised by the Reporting Person prior to expiration, (iii) 33,000 vested on April 27, 2015 and expired on April 26, 2025, which have been fully exercised by the Reporting Person prior to expiration and (iv) 33,000 vested on April 27, 2016 and expiring on April 26, 2026, 25,000 of which have been exercised by the Reporting Person prior to expiration and 8,000 of which have been exercised by the Reporting Person in Reported Transaction.

Signature

/s/ Vivek Ranjan, as Attorney-in-fact|2026-04-23

Documents

1 file

4
ownership.xmlPrimary
FORM 4