ICICI Bank (NYSE: IBN) director Ajay Gupta reports initial holdings

Rhea-AI Filing Summary

ICICI Bank Ltd director Ajay K. Gupta has filed an initial ownership report showing sizeable equity and option exposure to the bank. He directly holds 540,568 Equity Shares of par value Rs. 2 per share and has additional indirect holdings through close family members, including 80,000 and 80,030 shares held via his sons.

He also holds multiple stock option awards over Equity Shares, with exercise prices ranging from Rs. 1.65 to Rs. 14.67 per share. These include grants such as 198,190 options granted on April 17, 2025 and 141,490 options granted on April 26, 2024, each vesting in tranches over several years with expirations extending into the early 2030s.

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

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1. Name and Address of Reporting Person^*

Gupta Ajay K

(Last) (First) (Middle)

ICICI BANK TOWERS

BANDRA-KURLA COMPLEX

(Street)

MUMBAI K7 400051

(City) (State) (Zip)

INDIA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
ICICI BANK LTD [ IBN ]

3a. Foreign Trading Symbol

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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, par value Rs. 2 per share	540,568	D
Equity Shares, par value Rs. 2 per share	80,000	I	Held through Akhil Gupta, son of Ajay Kumar Gupta
Equity Shares, par value Rs. 2 per share	80,030	I	Held through Aneesh Gupta, son of Ajay Kumar Gupta
Equity Shares, par value Rs. 2 per share	2,750	I	Held through Aparna Gupta, spouse of Ajay Kumar Gupta
Equity Shares, par value Rs. 2 per share	1,100	I	Held through Shanti Gupta, mother of Ajay Kumar Gupta
Equity Shares, par value Rs. 2 per share	600	I	Held through Maitri Sanjay Thakker, daughter-in-law of Ajay Kumar Gupta

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
Stock Option (Right to Buy)	(1)	(1)	Equity Shares, par value Rs. 2 per share	198,190(2)	$14.67(3)	D
Stock Option (Right to Buy)	(4)	(4)	Equity Shares, par value Rs. 2 per share	141,490(2)	$12.04(3)	D
Stock Option (Right to Buy)	(5)	(5)	Equity Shares, par value Rs. 2 per share	113,700(2)	$9.67(3)	D
Stock Option (Right to Buy)	(6)	(6)	Equity Shares, par value Rs. 2 per share	133,100(2)	$8.09(3)	D
Stock Option (Right to Buy)	(7)	(7)	Equity Shares, par value Rs. 2 per share	134,600(2)	$6.16(3)	D
Stock Option (Right to Buy)	(8)	(8)	Equity Shares, par value Rs. 2 per share	173,400(2)	$3.65(3)	D
Stock Option (Right to Buy)	(9)	(9)	Equity Shares, par value Rs. 2 per share	96,600(2)	$4.35(3)	D
Stock Option (Right to Buy)	(10)	(10)	Equity Shares, par value Rs. 2 per share	18,200(2)	$3.06(3)	D
Stock Option (Right to Buy)	(11)	(11)	Equity Shares, par value Rs. 2 per share	71,060(2)	$2.4(3)	D
Stock Option (Right to Buy)	(12)	(12)	Equity Shares, par value Rs. 2 per share	104,500(2)	$3.03(3)	D
Stock Option (Right to Buy)	(13)	(13)	Equity Shares, par value Rs. 2 per share	58,550(2)	$2.56(3)	D
Stock Option (Right to Buy)	(14)	(14)	Equity Shares, par value Rs. 2 per share	66,000(2)	$2.31(3)	D
Stock Option (Right to Buy)	(15)	(15)	Equity Shares, par value Rs. 2 per share	8,000(2)	$1.65(3)	D

Explanation of Responses:

1. A total of 198,190 stock options granted on April 17, 2025 and vesting in three tranches: (i) 59,457 vesting on April 17, 2026 and expiring on April 16, 2031, (ii) 59,457 vesting on April 17, 2027 and expiring on April 16, 2032, and (iii) 79,276 vesting on April 17, 2028 and expiring on April 16, 2033.

2. Each stock option represents the contingent right to apply for one Equity Share.

3. The exercise prices of the stock options are denominated in Rupee and translated for convenience only into USD at the rate of INR92.47 to US$1.00, the exchange rate set forth int he H.10 statistical release of the Federal Reserve Board on March 13, 2026.

4. A total of 141,490 stock options granted on April 26, 2024 and vesting in three tranches: (i) 42,447 vested on April 26, 2025 and expiring on April 25, 2030, (ii) 42,447 vesting on April 26, 2026 and expiring on April 25, 2031, and (iii) 56,596 vesting on April 26, 2027 and expiring on April 25, 2032.

5. A total of 113,700 stock options granted on April 21, 2023 and vesting in three tranches: (i) 34,110 vested on April 21, 2024 and expiring on April 20, 2029, (ii) 34,110 vested on April 21, 2025 and expiring on April 20, 2030, and (iii) 45,480 vesting on April 21, 2026 and expiring on April 20, 2031.

6. A total of 133,100 stock options granted on April 23, 2022 and vesting in three tranches: (i) 39,930 vested on April 23, 2023 and expiring on April 22, 2028, (ii) 39,930 vested on April 23, 2024 and expiring on April 22, 2029, and (iii) 53,240 vested on April 23, 2025 and expiring on April 22, 2030.

7. A total of 134,600 stock options granted on April 24, 2021 and vesting in three tranches: (i) 40,380 vested on April 24, 2022 and expiring on April 23, 2027, (ii) 40,380 vested on April 24 2023 and expiring on April 23, 2028, (iii) 53,840 vested on April 24, 2024 and expiring on April 23, 2029.

8. A total of 173,400 stock options granted on May 9, 2020 and vesting three tranches: (i) 52,020 vested on May 9, 2021 and expiring on May 8, 2026, (ii) 52,020 vested on May 9, 2022 and expiring on May 8, 2027, and (iii) 69,360 vested on May 9, 2023 and expiring on May 8, 2028.

9. A total of 138,000 stock options granted on May 6, 2019 and vesting in three tranches: (i) 41,400 vested on May 6, 2020 and expired on May 5, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 41,400 vested on May 6, 2021 and expiring on May 5, 2026, and (iii) 55,200 vested on May 6, 2022 and expiring on May 5, 2027.

10. A total of 45,500 stock options granted on May 7, 2018 and vesting in three tranches: (i) 13,650 vested on May 7, 2019 and expired on May 6, 2024, which have been fully exercised by the Reporting Person prior to expiration, (ii) 13,650 vested on May 7, 2020 and expired on May 6, 2025, which have been fully exercised by the Reporting Person prior to expiration, and (iii) 18,200 vested on May 7, 2021 and expiring on May 6, 2026.

11. A total of 71,060 stock options granted on April 28, 2016 and vesting in three tranches: (i) 21,318 vested on April 28, 2017 and expiring on April 27, 2027, (ii) 21,318 vested on April 28, 2018 and expiring on April 27, 2028, and (iii) 28,424 vested on April 28, 2019 and expiring on April 27, 2029.

12. A total of 104,500 stock options granted on April 27, 2015 and vesting in three tranches: (i) 31,350 vested on April 27, 2016 and expiring on April 26, 2026, (ii) 31,350 vested on April 27, 2017 and expiring on April 26, 2027, and (iii) 41,800 vested on April 27, 2018 and expiring on April 26, 2028.

13. A total of 126,500 stock options granted on April 25, 2014 and vesting in three tranches: (i) 37,950 vested on April 25, 2015 and expired on April 24, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 37,950 vested on April 25, 2016 and expiring on April 24, 2026, 30,000 of which have been exercised by the Reporting Person prior to expiration, and (iii) 50,600 vested on April 25, 2017 and expiring on April 24, 2027.

14. A total of 110,000 stock options granted on April 26, 2013 and vesting in four tranches: (i) 22,000 vested on April 26, 2014 and expired on April 25, 2024, which have been fully exercised by the Reporting Person prior to expiration, (ii) 22,000 vested on April 26, 2015 and expired on April 25, 2025, which have been fully exercised by the Reporting Person prior to expiration, (iii) 33,000 vested on April 26, 2016 and expiring on April 25, 2026, and (iv) 33,000 vested on April 26, 2017 and expiring on April 25, 2027.

15. A total of 110,000 stock options granted on April 27, 2012 and vesting in four tranches: (i) 22,000 vested on April 27, 2013 and expired on April 26, 2023, which have been fully exercised by the Reporting Person prior to expiration, (ii) 22,000 vested on April 27, 2014 and expired on April 26, 2024, which have been fully exercised by the Reporting Person prior to expiration, (iii) 33,000 vested on April 27, 2015 and expired on April 26, 2025, which have been fully exercised by the Reporting Person prior to expiration, and (iv) 33,000 vested on April 27, 2016 and expiring on April 26, 2026, 25,000 of which have been exercised prior to expiration.

Remarks:

Exhibit 24.1. See power of attorney attached

	/s/ Vivek Ranjan, as Attorney-in-fact	03/18/2026
	** 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.
* Form 3: SEC 1473 (03-26)

FAQ

What does the ICICI Bank (IBN) Form 3 filing by Ajay K. Gupta show?

The Form 3 shows Ajay K. Gupta’s initial ownership in ICICI Bank. He directly holds 540,568 Equity Shares and multiple option grants over additional shares, plus indirect holdings through family members, highlighting his significant overall exposure to the bank’s equity.

How many ICICI Bank (IBN) shares does Ajay K. Gupta directly own?

Ajay K. Gupta directly owns 540,568 Equity Shares of ICICI Bank. These are ordinary shares with a par value of Rs. 2 each, separate from his indirect family holdings and his substantial stock option awards linked to additional Equity Shares.

What stock options on ICICI Bank (IBN) shares does Ajay K. Gupta hold?

He holds several “Stock Option (Right to Buy)” awards over Equity Shares, with exercise prices between Rs. 1.65 and Rs. 14.67. Notable grants include 198,190 options from April 17, 2025 and 141,490 options from April 26, 2024, vesting in multi‑year tranches.

Are Ajay K. Gupta’s ICICI Bank (IBN) holdings only in his own name?

No. Besides 540,568 directly held shares, the filing lists indirect holdings through family members, including shares held via his sons, spouse, mother and daughter‑in‑law. These indirect interests expand his overall economic exposure to ICICI Bank equity.

Do the ICICI Bank (IBN) options reported for Ajay K. Gupta have long maturities?

Yes. Many option grants vest in tranches and expire years later, with some expiring between 2027 and 2033. For example, the 198,190 options granted April 17, 2025 have tranches expiring from April 16, 2031 through April 16, 2033.

Does the ICICI Bank (IBN) Form 3 show any recent share purchases or sales by Ajay K. Gupta?

The Form 3 presents his positions as holdings rather than recent trades. Entries are classified as holdings with unknown transaction codes, indicating this filing focuses on disclosing current ownership and option balances, not reporting new buy or sell transactions.