ICICI Bank (NYSE: IBN) CEO exercises stock options to acquire 220,000 shares

Rhea-AI Filing Summary

ICICI Bank Ltd Chief Executive Officer Sandeep Bakhshi exercised stock options to acquire additional shares in the company. On April 17, 2026, he exercised options covering 220,000 equity shares at an exercise price of $2.39 per share, receiving 220,000 equity shares with direct ownership.

Following this transaction, his direct holdings in equity shares stood at 220,000 shares, while his directly held stock options increased to 693,000 options. The exercised options are part of a larger grant of 913,000 stock options awarded on April 28, 2016, which vest in three tranches with expirations between April 27, 2027 and April 27, 2029. No open-market share sale was reported in this filing.

Insider Trade Summary

220,000 shares exercised/converted

Mixed 2 txns

Insider Bakhshi Sandeep

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	220,000	$2.39	$526K
Exercise	Equity Shares, par value Rs. 2 per share	220,000	$2.39	$526K

Holdings After Transaction: Stock Option (Right to Buy) — 693,000 shares (Direct, null); Equity Shares, par value Rs. 2 per share — 220,000 shares (Direct, null)

Footnotes (1)

1. The exercise prices of the stock options are denominated in Rupee and translated for convenience only into USD at the rate of INR92.90 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on April 17, 2026. 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, 220,000 of which have been exercised by the Reporting Person prior to expiration, (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.

Key Figures

Shares acquired via option exercise: 220,000 shares Exercise price per share: $2.39 per share Shares held after transaction: 220,000 shares +3 more

6 metrics

Shares acquired via option exercise 220,000 shares Equity shares acquired on April 17, 2026

Exercise price per share $2.39 per share Stock option exercise price translated from Rupees

Shares held after transaction 220,000 shares Direct equity share ownership following exercise

Stock options held after transaction 693,000 options Directly held stock options after reported transactions

Original option grant size 913,000 options Grant dated April 28, 2016 with three vesting tranches

FX rate used for translation INR92.90 per $1.00 Rate from H.10 release on April 17, 2026

Key Terms

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

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.

vesting in three tranches financial

"A total of 913,000 stock options granted on April 28, 2016 and vesting in three tranches"

expiration financial

"vested on April 28, 2017 and expiring on April 27, 2027"

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^*

Bakhshi Sandeep

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/17/2026

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	04/17/2026		M		220,000	A	$2.39(1)	220,000	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
Stock Option (Right to Buy)	$2.39(1)	04/17/2026		M			220,000	(2)	(2)	Equity Shares, par value Rs. 2 per share	220,000	$2.39(1)	693,000(2)	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 INR92.90 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on April 17, 2026.

2. 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, 220,000 of which have been exercised by the Reporting Person prior to expiration, (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.

	/s/ Vivek Ranjan, as Attorney-in-fact	04/21/2026
	** 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 insider transaction did ICICI Bank (IBN) CEO Sandeep Bakhshi report?

ICICI Bank CEO Sandeep Bakhshi reported exercising stock options to acquire 220,000 equity shares. The exercise converted derivative stock options into directly owned shares, increasing his direct share ownership without any reported open‑market sale in this Form 4 filing.

How many ICICI Bank (IBN) shares did the CEO acquire and at what price?

He acquired 220,000 equity shares of ICICI Bank by exercising stock options at an exercise price of $2.39 per share. This reflects the Rupee‑denominated option price translated into U.S. dollars using an exchange rate of INR92.90 to $1.00 on April 17, 2026.

How many ICICI Bank (IBN) shares and options does the CEO hold after this transaction?

After exercising 220,000 options, Sandeep Bakhshi directly owns 220,000 equity shares and 693,000 stock options. These options come from a 913,000‑option grant awarded on April 28, 2016, vesting in three tranches with expirations from 2027 through 2029.

Did the ICICI Bank (IBN) CEO sell any shares in this Form 4 filing?

No share sales were reported. The filing shows an exercise of stock options coded “M” with an acquisition direction, converting 220,000 options into 220,000 equity shares. The transaction summary lists zero sell transactions and zero shares sold.

What does transaction code "M" mean in the ICICI Bank (IBN) Form 4?

Transaction code “M” in this Form 4 indicates an exercise or conversion of a derivative security. Here, it reflects exercising stock options to acquire 220,000 underlying equity shares, moving value from options into directly owned common equity rather than an open‑market purchase.

What is the background of the ICICI Bank (IBN) stock option grant exercised by the CEO?

The exercised options are part of a 913,000‑option grant dated April 28, 2016. This grant vests in three tranches: 273,900 options vesting in 2017, 273,900 in 2018, and 365,200 in 2019, with expirations in 2027, 2028, and 2029 respectively.