Gupta Ajay K 4
4 · ICICI BANK LTD · Filed May 7, 2026
Research Summary
AI-generated summary of this filing
ICICI Bank (IBN) Director Ajay K. Gupta Exercises Options
What Happened
Ajay K. Gupta, a director of ICICI Bank Ltd. (IBN), exercised stock options on May 5, 2026 and concurrently disposed of the resulting shares. He exercised 41,400 options at an exercise price translated to $4.23 each (value $175,122) and 18,200 options at $2.98 each (value $54,236), for a combined transaction value of $229,358. The reporting shows both acquisition (exercise) and immediate disposition of the same share amounts.
Key Details
- Transaction date: May 5, 2026. Exercise prices (USD equivalent): $4.23 (41,400 shares) and $2.98 (18,200 shares). Total value shown: $229,358.
- Total shares involved: 59,600 (41,400 + 18,200).
- Shares owned after transaction: Not specified in this filing.
- Footnotes: Exercise prices were converted from INR to USD at INR 94.90 = $1.00 (Fed Reserve H.10 rate, May 1, 2026). The options exercised were part of prior grants (May 6, 2019 and May 7, 2018) with tranches that vested in 2021 and were exercised prior to their expiration dates.
- Filing timeliness: Report filed May 7, 2026 for a May 5, 2026 transaction — appears to be filed within the required Form 4 window (two business days).
Context
Because the filing shows matching "acquired" and "disposed" entries for the same shares, this was effectively an exercise followed by an immediate sale (a cashless or simultaneous disposition of exercised shares), which is a common way to realize option value and cover tax/strike costs. The filing documents the mechanics of exercising vested options rather than indicating a long-term buy or sell decision.
Insider Transaction Report
- Exercise/Conversion
Equity Shares, par value Rs. 2 per share
[F1]2026-05-05$4.23/sh+41,400$175,122→ 714,288 total - Exercise/Conversion
Equity Shares, par value Rs. 2 per share
[F1]2026-05-05$2.98/sh+18,200$54,236→ 732,488 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F2]2026-05-05$4.23/sh−41,400$175,122→ 55,200 totalExercise: $4.23→ Equity Shares, par value Rs. 2 per share (41,400 underlying) - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F3]2026-05-05$2.98/sh−18,200$54,236→ 0 totalExercise: $2.98→ Equity Shares, par value Rs. 2 per share (18,200 underlying)
Footnotes (3)
- [F1]The exercise prices of the stock options are denominated in Rupee and translated for convenience only into USD at the rate of INR94.90 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on May 1, 2026.
- [F2]A total of 138,000 stock options granted on May 6, 2019 and vesting in three tranches: (i) 41,400 vested on May 6, 2020 and expired on May 5, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 41,400 vested on May 6, 2021 and expired on May 5, 2026, which have been fully exercised by the Reporting Person in the Reported Transaction prior to expiration and (iii) 55,200 vested on May 6, 2022 and expiring on May 5, 2027.
- [F3]A total of 45,500 stock options granted on May 7, 2018 and vesting in three tranches: (i) 13,650 vested on May 7, 2019 and expired on May 6, 2024, which have been fully exercised by the Reporting Person prior to expiration, (ii) 13,650 vested on May 7, 2020 and expired on May 6, 2025, which have been fully exercised by the Reporting Person prior to expiration, and (iii) 18,200 vested on May 7, 2021 and expired on May 6, 2026, which have been fully exercised by the Reporting Person in the Reported Transaction prior to expiration.