SBI Cards and Payment Services has informed the NSE that 1,87,164 options have vested under its employee stock-option plan. The vested options comprise 1,03,615 restricted share units and 83,549 performance share units.
BKK Bureau, New Delhi | 18 October 2026 | 3:56 PM IST
SBI Cards and Payment Services Limited has informed the National Stock Exchange of India that 1,87,164 employee stock options have vested under its stock-option plan. The disclosure, published on October 18, 2026, covers 1,03,615 Restricted Share Units and 83,549 Performance Share Units.
Each vested option can entitle the participant to one equity share of SBI Cards upon a valid exercise of the option, subject to the terms of the plan. The company said the exercise price is Rs 10 per option. The equity shares underlying the broader plan have a face value of Rs 10 each, subject to adjustments for corporate actions.
The company’s filing states that up to 1,41,91,115 stock options may be offered to eligible employees under the plan. These options may be exercisable into an equal number of equity shares, subject to adjustments prescribed under the plan, and may not exceed 1.5% of the company’s paid-up share capital as of March 31, 2023.
The vested options may be exercised within three years from the relevant vesting date. SBI Cards also said there must be a minimum period of one year between the grant of options and their vesting. Each grant of restricted or performance share units is governed by a vesting schedule and other terms determined at the time of the grant.
According to the filing, vesting of the options is linked to the achievement of key organisational performance metrics. The Nomination and Remuneration Committee is responsible for operating and administering the plan and will determine the number of options granted to each eligible employee. The committee also decides whether the options take the form of restricted share units, performance share units or both, based on the employee’s level.
The disclosure distinguishes between vesting and exercise. The vesting of the options gives participants the right to exercise them under the plan, but the shares become issuable only after a valid exercise by the participant and satisfaction of the applicable terms and conditions.
SBI Cards also reported diluted earnings per share of Rs 6.91 in the filing. It said the figure was calculated using profit after tax for June 2026 as the numerator and the weighted average number of diluted equity shares as the denominator, along with the full impact of the 1,87,164 options.
The filing does not state that all vested options have already been exercised or that the corresponding equity shares have been issued. The disclosure is therefore an update on vesting under the employee incentive plan rather than a statement of completed share issuance.
Why it matters
The disclosure provides clarity on the scale and terms of SBI Cards’ employee equity incentives. It also shows that the company has included the full impact of the vested options in its reported diluted EPS calculation, while the actual issuance of shares would depend on participants exercising their vested options.
Source: National Stock Exchange of India
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