ICICI Bank (IBN) CEO Sandeep Bakhshi details equity and option holdings

Rhea-AI Filing Summary

ICICI Bank Ltd Chief Executive Officer Sandeep Bakhshi filed an initial statement of beneficial ownership, detailing his equity and stock option positions in the bank. He directly holds 876,300 Equity Shares of par value Rs. 2 per share and additional indirect holdings through family members. The filing also lists multiple stock option grants, including 242,100 options granted on April 17, 2025 and 254,100 options granted on April 26, 2024, each vesting in tranches and expiring between 2029 and 2033. Each option gives the right to apply for one Equity Share, with exercise prices shown in U.S. dollars translated from rupees.

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^*

Bakhshi Sandeep

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

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	876,300	D
Equity Shares, par value Rs. 2 per share	2,293	I	Held through Mona Bakhshi, spouse of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	40,112	I	Held through Shivam Bakhshi, son of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	30,412	I	Held through Esha Bakhshi, daughter of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	30,206	I	Held through Minal Bakhshi, daughter of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	10	I	Held through Ashwin Pradhan, son-in-law of Sandeep Bakhshi

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	242,100(2)	$14.67(3)	D
Stock Option (Right to Buy)	(4)	(4)	Equity Shares, par value Rs. 2 per share	254,100(2)	$12.04(3)	D
Stock Option (Right to Buy)	(5)	(5)	Equity Shares, par value Rs. 2 per share	299,100(2)	$9.67(3)	D
Stock Option (Right to Buy)	(6)	(6)	Equity Shares, par value Rs. 2 per share	317,800(2)	$8.09(3)	D
Stock Option (Right to Buy)	(7)	(7)	Equity Shares, par value Rs. 2 per share	394,850(2)	$6.16(3)	D
Stock Option (Right to Buy)	(8)	(8)	Equity Shares, par value Rs. 2 per share	427,350(2)	$3.65(3)	D
Stock Option (Right to Buy)	(9)	(9)	Equity Shares, par value Rs. 2 per share	244,200(2)	$4.35(3)	D
Stock Option (Right to Buy)	(10)	(10)	Equity Shares, par value Rs. 2 per share	673,750(2)	$2.71(3)	D
Stock Option (Right to Buy)	(11)	(11)	Equity Shares, par value Rs. 2 per share	913,000(2)	$2.4(3)	D
Stock Option (Right to Buy)	(12)	(12)	Equity Shares, par value Rs. 2 per share	1,100,000(2)	$2.64(3)	D
Stock Option (Right to Buy)	(13)	(13)	Equity Shares, par value Rs. 2 per share	673,750(2)	$3.03(3)	D
Stock Option (Right to Buy)	(14)	(14)	Equity Shares, par value Rs. 2 per share	220,000(2)	$2.56(3)	D

Explanation of Responses:

1. A total of 242,100 stock options granted on April 17, 2025 and vesting in three tranches: (i) 72,630 vesting on April 17, 2026 and expiring on April 16, 2031, (ii) 72,630 vesting on April 17, 2027 and expiring on April 16, 2032, and (iii) 96,840 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 254,100 stock options granted on April 26, 2024 and vesting in three tranches: (i) 76,230 vested on April 26, 2025 and expiring on April 25, 2030, (ii) 76,230 vesting on April 26, 2026 and lapsing on April 25, 2031, and (iii) 101,640 vesting on April 26, 2027 and expiring on April 25, 2032.

5. A total of 299,100 stock options granted on April 21, 2023 and vesting in three tranches: (i) 89,730 vested on April 21, 2024 and expiring on April 20, 2029, (ii) 89,730 vested on April 21, 2025 and expiring on April 20, 2030, and (iii) 119,640 vesting on April 21, 2026 and expiring on April 20, 2031.

6. A total of 317,800 stock options granted on April 23, 2022 and vesting in three tranches: (i) 95,340 vested on April 23, 2023 and expiring on April 22, 2028, (ii) 95,340 vested on April 23, 2024 and expiring on April 22, 2029, and (iii) 127,120 vested on April 23, 2025 and expiring on April 22, 2030.

7. A total of 394,850 stock options granted on April 24, 2021 and vesting in three tranches: (i) 118,455 vested on April 24, 2022 and expiring on April 23, 2027, (ii) 118,455 vested on April 24, 2023 and expiring on April 23, 2028, and (iii) 157,940 vested on April 24, 2024 and expiring on April 23, 2029.

8. A total of 610,500 stock options granted on May 9, 2020 and vesting in three tranches: (i) 183,150 vested on May 9, 2021 and expiring on May 8, 2026, which have been fully exercised by the Reporting Person prior to expiration, (ii) 183,150 vested on May 9, 2022 and expiring on May 8, 2027, and (iii) 244,200 vested on May 9, 2023 and expiring on May 8, 2028.

9. A total of 610,500 stock options granted on May 6, 2019 and vesting in three tranches: (i) 183,150 vested on May 6, 2020 and expired on May 5, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 183,150 vested on May 6, 2021 and expiring on May 5, 2026, which have been fully exercised by the Reporting Person prior to expiration, and (iii) 244,200 vested on May 6, 2022 and expiring on May 5, 2027.

10. A total of 673,750 stock options granted on May 3, 2017 and vesting in three tranches: (i) 202,125 vested on May 3, 2018 and expiring on May 2, 2028, (ii) 202,125 vested on May 3, 2019 and expiring on May 2, 2029, and (iii) 269,500 vested on May 3, 2020 and expiring on May 2, 2030.

11. A total of 913,000 stock options granted on April 28, 2016 and vesting in three tranches: (i) 273,900 vested on April 28, 2017 and expiring on April 27, 2027, (ii) 273,900 vested on April 28, 2018 and expiring on April 27, 2028, and (iii) 365,200 vested on April 28, 2019 and expiring on April 27, 2029.

12. A total of 1,100,000 stock options granted on September 16, 2015 and vesting in two tranches: (i) 550,000 vested on April 30, 2018 and expiring on April 29, 2028 and (ii) 550,000 vested on April 30, 2019 and expiring on April 29, 2029.

13. A total of 962,500 stock options granted on April 27, 2015 and vesting in three tranches: (i) 288,750 vested on April 27, 2016 and expiring on April 26, 2026, which have been fully exercised by the Reporting Person prior to expiration, (ii) 288,750 vested on April 27, 2017 and expiring on April 26, 2027, and (iii) 385,000 vested on April 27, 2018 and expiring on April 26, 2028.

14. A total of 962,500 stock options granted on April 25, 2014 and vesting in three tranches: (i) 288,750 vested on April 25, 2015 and expired on April 24, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 288,750 vested on April 25, 2016 and expiring on April 24, 2026, which have been fully exercised by the Reporting Person prior to expiration, and (iii) 385,000 vested on April 25, 2017 and expiring on April 24, 2027, 165,000 of which have been exercised by the Reporting Person 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 ICICI Bank (IBN) CEO Sandeep Bakhshi’s Form 3 report?

The Form 3 reports Sandeep Bakhshi’s existing equity and stock option holdings in ICICI Bank. It shows his direct and indirect Equity Shares and multiple long-term stock option grants, each vesting in tranches and expiring between 2026 and 2033.

How many ICICI Bank (IBN) shares does Sandeep Bakhshi hold directly?

Sandeep Bakhshi directly holds 876,300 Equity Shares of ICICI Bank with a par value of Rs. 2 per share. This position reflects his direct ownership and is separate from additional indirect holdings reported through his spouse and other family members.

What stock option grants for ICICI Bank (IBN) are disclosed for Sandeep Bakhshi?

The filing lists several stock option grants over multiple years, such as 242,100 options granted on April 17, 2025 and 254,100 options granted on April 26, 2024. These options vest in tranches and expire between 2029 and 2033, each tied to one Equity Share.

How are Sandeep Bakhshi’s family holdings in ICICI Bank (IBN) reported?

The Form 3 includes indirect holdings through family members, such as shares held by his spouse and children. For example, 2,293 Equity Shares are reported through his spouse, with additional smaller positions held through his son and daughters as separate indirect entries.

Do the ICICI Bank (IBN) stock options give Sandeep Bakhshi one share per option?

Yes. Each stock option represents the contingent right to apply for one Equity Share of ICICI Bank. The filing specifies this clearly and provides exercise prices in rupees, translated into U.S. dollars using a stated INR92.47 to US$1.00 exchange rate.

Are any new ICICI Bank (IBN) share purchases or sales disclosed in this Form 3?

No new purchases or sales are shown; the entries are classified as holdings. The transaction summary records zero buys, sells, exercises, gifts, or tax withholdings, indicating this filing is an initial snapshot of existing positions rather than new trading activity.