Jha Sudhirkumar 4

What Happened
Jha Sudhirkumar, Group Head – Corporate Legal at HDFC Bank Ltd., exercised 4,000 employee stock options on 2026-03-19 (code X = exercise) at an exercise price of INR 753.03 (USD $8.28), representing $33,120. The filing also reports a simultaneous disposition of 4,000 shares (derivative), indicating the shares acquired on exercise were immediately sold or otherwise disposed. This sequence (exercise + immediate disposition) results in no net increase in beneficially owned shares.

Key Details

• Transaction date: 2026-03-19; Form 4 filed: 2026-03-23 (filed within required two business days).
• Exercise: 4,000 options acquired at INR 753.03 per share (USD $8.28) = $33,120 (footnote F3 explains INR→USD conversion at INR1 = $0.011).
• Disposition: 4,000 shares disposed (reported as derivative disposition) for $33,120.
• Shares owned after transaction: not reported on this Form 4.
• Footnotes: F1 = exercise date is employee option exercise date; F2 = X denotes exercise of employee stock options; F3 = exercise price shown in INR and converted to USD.
• Exchange/listing: HDFC Bank shares trade on NSE (symbol HDFCBANK) and BSE (500180).

Context
This was an options exercise followed by an immediate disposition (a common cashless exercise or sale-to-cover pattern). Such transactions typically reflect option exercise mechanics (to cover exercise cost and taxes) rather than a directional bet on the stock; they do not necessarily signal management sentiment. All information above is factual as reported in the Form 4 (Accession 0001193125-26-118470).