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HDFC Bank (NYSE: HDB) executive details equity and stock option stakes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

HDFC Bank Ltd executive N. Srinivasan, Group Head – Operations, has filed an initial statement of beneficial ownership. The filing shows he directly holds 658,422 Equity Shares of HDFC Bank and an additional 1,680 Equity Shares are held indirectly through his spouse.

He also holds multiple Employee Stock Options (Right to Buy) over Equity Shares at various exercise prices and expirations. Examples include options over 54,400 shares at an exercise price of 6.8000 per share expiring in 2026, and options over 49,140 shares at an exercise price of 10.6300 per share expiring in 2033, reflecting a layered long-term incentive position.

Positive

  • None.

Negative

  • None.
Insider Srinivasan N
Role Group Head - Operations
Type Security Shares Price Value
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
holding Equity Shares -- -- --
holding Equity Shares -- -- --
Holdings After Transaction: Employee Stock Option (Right to Buy) — 54,400 shares (Direct); Equity Shares — 658,422 shares (Direct); Equity Shares — 1,680 shares (Indirect, Spouse)
Footnotes (1)
  1. [object Object]
SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
Srinivasan N

(Last) (First) (Middle)
HDFC BANK LIMITED, HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL

(Street)
MUMBAI K7 400013

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026
3. Issuer Name and Ticker or Trading Symbol
HDFC BANK LTD [ HDB ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Group Head - Operations
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Equity Shares 658,422 D
Equity Shares 1,680 I Spouse
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) 10/24/2024 10/24/2026 Equity Shares 54,400 $6.8(1) D
Employee Stock Option (Right to Buy) 07/31/2024 07/31/2026 Equity Shares 21,800 $7.85(1) D
Employee Stock Option (Right to Buy) 07/31/2025 07/31/2027 Equity Shares 21,400 $7.85(1) D
Employee Stock Option (Right to Buy) 09/26/2023 09/26/2027 Equity Shares 18,800 $7.85(1) D
Employee Stock Option (Right to Buy) 09/26/2024 09/26/2028 Equity Shares 18,800 $7.85(1) D
Employee Stock Option (Right to Buy) 09/26/2025 09/26/2029 Equity Shares 18,800 $7.85(1) D
Employee Stock Option (Right to Buy) 09/26/2026 09/26/2030 Equity Shares 18,600 $7.85(1) D
Employee Stock Option (Right to Buy) 09/13/2024 09/13/2028 Equity Shares 18,800 $9(1) D
Employee Stock Option (Right to Buy) 09/13/2025 09/13/2029 Equity Shares 18,800 $9(1) D
Employee Stock Option (Right to Buy) 09/13/2026 09/13/2030 Equity Shares 18,800 $9(1) D
Employee Stock Option (Right to Buy) 09/13/2027 09/13/2031 Equity Shares 18,760 $9(1) D
Employee Stock Option (Right to Buy) 10/29/2025 10/29/2029 Equity Shares 34,600 $9.54(1) D
Employee Stock Option (Right to Buy) 10/29/2026 10/29/2030 Equity Shares 34,600 $9.54(1) D
Employee Stock Option (Right to Buy) 10/29/2027 10/29/2031 Equity Shares 34,600 $9.54(1) D
Employee Stock Option (Right to Buy) 10/29/2028 10/29/2032 Equity Shares 34,520 $9.54(1) D
Employee Stock Option (Right to Buy) 09/18/2026 09/18/2030 Equity Shares 18,400 $10.63(1) D
Employee Stock Option (Right to Buy) 09/18/2027 09/18/2031 Equity Shares 24,600 $10.63(1) D
Employee Stock Option (Right to Buy) 09/18/2028 09/18/2032 Equity Shares 30,700 $10.63(1) D
Employee Stock Option (Right to Buy) 09/18/2029 09/18/2033 Equity Shares 49,140 $10.63(1) D
Explanation of Responses:
1. Conversion rate as on March 16, 2026 applied : 1Rs = 0.011 USD
Remarks:
Exhibit 24 - Power of Attorney Group Head - Operations
/s/ Dhanjit Thaivalappil, Attorney in fact for Srinivasan N 03/17/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does HDFC Bank (HDB) Form 3 for N. Srinivasan disclose?

The Form 3 discloses N. Srinivasan’s initial beneficial ownership in HDFC Bank. He directly holds 658,422 Equity Shares and 1,680 additional shares are held indirectly through his spouse, plus multiple employee stock options over additional Equity Shares at set exercise prices.

How many HDFC Bank equity shares does N. Srinivasan directly own?

N. Srinivasan directly owns 658,422 Equity Shares of HDFC Bank. This direct holding is supplemented by 1,680 additional Equity Shares held indirectly through his spouse, as reported in the filing, giving investors a snapshot of his direct and family-linked equity exposure.

What indirect HDFC Bank shareholding is reported for N. Srinivasan?

The filing shows an indirect holding of 1,680 Equity Shares attributed to N. Srinivasan’s spouse. This is reported separately from his 658,422 directly held shares, indicating both personal and family-related exposure to HDFC Bank’s equity in the ownership breakdown.

What stock options does N. Srinivasan hold in HDFC Bank (HDB)?

He holds several Employee Stock Options (Right to Buy) over Equity Shares with different exercise prices and expirations. Examples include 54,400 underlying shares at 6.8000 per share and 49,140 underlying shares at 10.6300 per share, expiring between 2026 and 2033.

Are any buy or sell transactions reported in this HDFC Bank Form 3?

No buy or sell transactions are reported; the entries are described as holdings. The Form 3 provides an initial snapshot of existing Equity Share ownership and outstanding employee stock options for N. Srinivasan, rather than recording recent market trades.

How are the HDFC Bank option exercise prices presented in this filing?

Option exercise prices are shown as fixed amounts such as 6.8000, 7.8500, 9.0000, 9.5400, and 10.6300 per share. A footnote explains a conversion rate of 1 rupee to 0.011 USD was applied, indicating these figures reflect the converted exercise prices.
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