ICICI Bank director exercises options for 59,600 shares

ICICI Bank Ltd director Ajay K. Gupta exercised stock options to acquire 59,600 equity shares on May 5, 2026.

Rhea-AI Filing Summary

ICICI Bank Ltd director Ajay K. Gupta exercised stock options to acquire 59,600 equity shares on May 5, 2026. He converted options into equity shares at strike prices of $2.98 and $4.23 per share. The transactions relate to tranches from 2018 and 2019 option grants that were fully exercised before their respective expiration dates, while a later 55,200-share tranche from the 2019 grant remains outstanding and continues to be available until its 2027 expiry.

Insider Trade Summary

59,600 shares exercised/converted

Exercise 4 txns

Insider Gupta Ajay K

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	41,400	$4.23	$175K
Exercise	Stock Option (Right to Buy)	18,200	$2.98	$54K
Exercise	Equity Shares, par value Rs. 2 per share	41,400	$4.23	$175K
Exercise	Equity Shares, par value Rs. 2 per share	18,200	$2.98	$54K

Holdings After Transaction: Stock Option (Right to Buy) — 55,200 contracts (Direct); Equity Shares, par value Rs. 2 per share — 732,488 shares (Direct)

Footnotes (3)

1. F1. The exercise prices of the stock options are denominated in Rupee and translated for convenience only into USD at the rate of INR94.90 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on May 1, 2026.
2. F2. 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 expired on May 5, 2026, which have been fully exercised by the Reporting Person in the Reported Transaction prior to expiration and (iii) 55,200 vested on May 6, 2022 and expiring on May 5, 2027.
3. F3. 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 expired on May 6, 2026, which have been fully exercised by the Reporting Person in the Reported Transaction prior to expiration.

Key Figures

Shares acquired via exercise: 59,600 shares Strike price 1: $2.98 per share Strike price 2: $4.23 per share +4 more

7 metrics

Shares acquired via exercise 59,600 shares Equity shares acquired through option exercises on May 5, 2026

Strike price 1 $2.98 per share Exercise price for 18,200 equity shares

Strike price 2 $4.23 per share Exercise price for 41,400 equity shares

2019 grant size 138,000 options Stock options granted on May 6, 2019, vesting in three tranches

2018 grant size 45,500 options Stock options granted on May 7, 2018, vesting in three tranches

Remaining 2019 tranche 55,200 options Vested May 6, 2022, expiring May 5, 2027

Exercise shares total 59,600 shares Total exerciseShares in transaction summary

Key Terms

Stock Option (Right to Buy), Exercise or conversion of derivative security, vesting in three tranches, H.10 statistical release, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title": "Stock Option (Right to Buy)""

Exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

vesting in three tranches financial

"granted on May 6, 2019 and vesting in three tranches"

H.10 statistical release financial

"the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board"

The H.10 statistical release is a regularly published table of key interest rates — such as short-term Treasury yields, commercial paper, and interbank borrowing costs — compiled by the central bank. It gives a snapshot of borrowing and lending rates across different maturities, which investors use like a weather report for the credit markets: changes can alter borrowing costs, bond prices, and expected returns, so it helps assess market conditions and value assets.

par value Rs. 2 per share financial

"Equity Shares, par value Rs. 2 per share"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ICICI Bank (IBN) director Ajay K. Gupta report?

Ajay K. Gupta reported exercising stock options to acquire 59,600 equity shares of ICICI Bank on May 5, 2026. These exercises converted previously granted options into shares, using strike prices of $2.98 and $4.23 per share as disclosed in the filing details.

Were ICICI Bank (IBN) shares bought or sold in this Form 4 filing?

The Form 4 shows option exercises that acquired shares, not open-market buying or selling. Gupta exercised stock options coded “M,” which represent conversion of derivative securities into equity shares, with no separate sale or tax-withholding transactions reported in this filing.

How many ICICI Bank (IBN) shares were obtained through the option exercise?

Gupta obtained 59,600 equity shares of ICICI Bank through option exercises. The filing lists 18,200 shares at a $2.98 strike price and 41,400 shares at a $4.23 strike price, both arising from previously granted stock option awards that had already vested.

What option grants are referenced for Ajay K. Gupta in the ICICI Bank (IBN) Form 4?

The Form 4 references a 138,000-share stock option grant from May 6, 2019 and a 45,500-share grant from May 7, 2018. Earlier tranches from both grants were exercised previously, and specified tranches were fully exercised in the reported May 5, 2026 transactions.

Are any of Ajay K. Gupta’s ICICI Bank (IBN) stock options still outstanding?

Yes. Footnotes state that 55,200 stock options from the May 6, 2019 grant vested on May 6, 2022 and expire on May 5, 2027. These options remain in place after the reported transactions, providing additional potential future equity if exercised.

How were ICICI Bank (IBN) option exercise prices converted in this Form 4?

The filing notes that the stock option exercise prices are denominated in Indian Rupees but translated into U.S. dollars. The conversion uses an INR94.90 to US$1.00 rate, matching the Federal Reserve Board’s H.10 statistical release exchange rate cited for May 1, 2026.

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Accepted by SEC EDGAR 05/07/2026 - 10:42 AM Learn about SEC filing dates

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^*

Gupta Ajay K

(Last) (First) (Middle)

ICICI BANK TOWERS

BANDRA-KURLA COMPLEX

(Street)

MUMBAI K7 400051

(City) (State) (Zip)

INDIA

(Country)

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

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

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

2a. Foreign Trading Symbol

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

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, par value Rs. 2 per share	05/05/2026		M		41,400	A	$4.23(1)	714,288	D
Equity Shares, par value Rs. 2 per share	05/05/2026		M		18,200	A	$2.98(1)	732,488	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
Stock Option (Right to Buy)	$4.23(1)	05/05/2026		M			41,400	(2)	(2)	Equity Shares, par value Rs. 2 per share	41,400	$4.23(1)	55,200(2)	D
Stock Option (Right to Buy)	$2.98(1)	05/05/2026		M			18,200	(3)	(3)	Equity Shares, par value Rs. 2 per share	18,200	$2.98(1)	0(3)	D

Explanation of Responses:

1. The exercise prices of the stock options are denominated in Rupee and translated for convenience only into USD at the rate of INR94.90 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on May 1, 2026.

2. 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 expired on May 5, 2026, which have been fully exercised by the Reporting Person in the Reported Transaction prior to expiration and (iii) 55,200 vested on May 6, 2022 and expiring on May 5, 2027.

3. 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 expired on May 6, 2026, which have been fully exercised by the Reporting Person in the Reported Transaction prior to expiration.

	/s/ Vivek Ranjan, as Attorney-in-fact	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)