Gupta Ajay K 4

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.