HDFC Bank (HDB) officer exercises options, now holds 15,000 shares

Rhea-AI Filing Summary

HDFC Bank Ltd officer Rakesh Kumar Rajput, Group Head – Compliance, exercised employee stock options to acquire 12,600 Equity Shares on May 6, 2026. The options were exercised at an effective price of $7.08 per share, based on an INR 643.53 exercise price.

Following this in-the-money option exercise, Rajput directly holds 15,000 Equity Shares of HDFC Bank. The filing shows a compensation-related derivative exercise with no open‑market buying or selling activity and no remaining options from this grant.

Insider Trade Summary

12,600 shares exercised/converted

Mixed 2 txns

Insider RAJPUT RAKESH KUMAR

Role Group Head - Compliance

Type	Security	Shares	Price	Value
X	Employee StockOption (Right to Buy)	12,600	$7.08	$89K
X	Equity Shares	12,600	$7.08	$89K

Holdings After Transaction: Employee StockOption (Right to Buy) — 0 shares (Direct, null); Equity Shares — 15,000 shares (Direct, null)

Footnotes (1)

1. The date entered is the Employee Stock Option (Right to Buy) Exercise Date X represents Exercise of Employee Stock Options (Right to Buy) The exercise price is Indian Rupees (INR) 643.53 which based on an exchange rate of INR 1.00 = USD $ 0.011 as of 05/06/2026 would correspond to an exercise price in USD $ 7.08

Key Figures

Shares acquired via option exercise: 12,600 shares Exercise price (USD): $7.08 per share Exercise price (INR): INR 643.53 per share +3 more

6 metrics

Shares acquired via option exercise 12,600 shares Equity Shares acquired on May 6, 2026

Exercise price (USD) $7.08 per share Effective price based on INR 643.53 and stated FX rate

Exercise price (INR) INR 643.53 per share Employee Stock Option (Right to Buy) strike price

Shares held after transaction 15,000 shares Total direct HDFC Bank Equity Shares post-exercise

Options exercised 12,600 options Employee Stock Option (Right to Buy) fully exercised

Exercise date May 6, 2026 Date of in-the-money derivative exercise

Key Terms

Employee Stock Option (Right to Buy), Exercise of in-the-money or at-the-money derivative security, Equity Shares, exercise price

4 terms

Employee Stock Option (Right to Buy) financial

"security_title: "Employee StockOption (Right to Buy)""

Exercise of in-the-money or at-the-money derivative security financial

"transaction_code_description: "Exercise of in-the-money or at-the-money derivative security""

Equity Shares financial

"security_title: "Equity Shares""

Equity shares are units of ownership in a company that give the holder a claim on a portion of its assets and profits, like owning a slice of a business. They matter to investors because their value can rise or fall with the company’s performance and market sentiment, may provide periodic income through dividends, and often carry voting rights that influence how the business is run.

exercise price financial

"The exercise price is Indian Rupees (INR) 643.53 which based on an exchange rate..."

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RAJPUT RAKESH KUMAR

(Last) (First) (Middle)

HDFC BANK LIMITED, HDFC BANK HOUSE

SENAPATI BAPAT MARG, LOWER PAREL (WEST)

(Street)

MUMBAI INDIA 400013

(City) (State) (Zip)

INDIA

(Country)

2. Issuer Name and Ticker or Trading Symbol
HDFC BANK LTD [ HDB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Group Head - Compliance

2a. Foreign Trading Symbol
[HDFCBANK]

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Equity Shares	05/06/2026(1)		X(2)		12,600	A	$7.08(3)	15,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee StockOption (Right to Buy)	$7.08(3)	05/06/2026(1)		X(2)			12,600	05/19/2024	05/19/2026	Equity Shares	12,600	$7.08(3)	0	D

Explanation of Responses:

1. The date entered is the Employee Stock Option (Right to Buy) Exercise Date

2. X represents Exercise of Employee Stock Options (Right to Buy)

3. The exercise price is Indian Rupees (INR) 643.53 which based on an exchange rate of INR 1.00 = USD $ 0.011 as of 05/06/2026 would correspond to an exercise price in USD $ 7.08

Remarks:

The equity shares of the Bank are listed on NSE and BSE. The Trading symbol of NSE is HDFCBANK and is mentioned in the form under Foreign Trading Symbol. The Foreign Trading Symbol of BSE is 500180 Group Head - Compliance

	/s/ Dhanjit Thaivalappil, Attorney in fact for Rajput Rakesh Kumar	05/07/2026
	** 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 4 (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.
* Form 4: SEC 1474 (03-26)

FAQ

What did HDFC Bank (HDB) officer Rakesh Kumar Rajput report in this Form 4?

He reported exercising employee stock options to acquire 12,600 HDFC Bank Equity Shares. The transaction reflects an in-the-money option exercise, increasing his direct shareholding to 15,000 shares following the transaction on May 6, 2026.

How many HDFC Bank (HDB) shares does Rakesh Kumar Rajput hold after the transaction?

After exercising his employee stock options, Rakesh Kumar Rajput directly holds 15,000 HDFC Bank Equity Shares. This post-transaction balance reflects the full 12,600 shares acquired through the option exercise added to his prior holdings as reported.

What was the exercise price for the HDFC Bank (HDB) employee stock options?

The employee stock options were exercised at INR 643.53 per share, corresponding to approximately $7.08 per share. This U.S. dollar figure is based on an exchange rate of INR 1.00 equaling $0.011 as of May 6, 2026, per the filing footnote.

Did the HDFC Bank (HDB) Form 4 show any open-market buying or selling?

No, the Form 4 shows an exercise of employee stock options, not open-market trades. The transaction code X and description indicate an in-the-money derivative exercise, with shares acquired directly rather than bought or sold in the market.

What type of derivative security did HDFC Bank (HDB) officer Rajput exercise?

He exercised an “Employee Stock Option (Right to Buy)” derivative security. This option entitled him to purchase 12,600 HDFC Bank Equity Shares at a fixed exercise price, and the filing shows this right was fully exercised with no remaining balance.