MakeMyTrip (MMYT) director Deep Kalra granted 12,876 RSUs with performance vesting

Rhea-AI Filing Summary

Deep Kalra reported acquisition or exercise transactions in this Form 4 filing.

MakeMyTrip Ltd director Deep Kalra reported new equity compensation awards. On July 1, 2026, he received a total of 12,876 Restricted Stock Units (RSUs) covering an equal number of Ordinary Shares.

Some RSUs are time-based, scheduled to vest between April 1, 2027 and April 1, 2030, with expiration dates from March 31, 2031 to March 31, 2034. The awards also include 6,203 performance-based RSUs that vest only if specified performance conditions are met, and another block of performance-based RSUs scheduled to vest on September 30, 2026.

Insights

Equity compensation analyst

Routine RSU grants to a director, tied to multi‑year service and performance.

Deep Kalra, a director of MakeMyTrip Ltd, received 12,876 Restricted Stock Units as equity compensation. These RSUs represent rights to receive an equal number of Ordinary Shares at future vesting dates, not an immediate cash transaction or open‑market share purchase.

The awards are split between time-based and performance-based RSUs. Time-based units vest from April 1, 2027 through April 1, 2030, with expiration dates running from March 31, 2031 to March 31, 2034. The filing specifies 6,203 performance-based RSUs that depend on achieving defined performance conditions, plus an additional performance-based tranche vesting on September 30, 2026.

This pattern is typical of long-term incentive structures, aligning a director’s compensation with multi‑year company performance. Because these are grants rather than market purchases or sales, and no proportional ownership context is provided, the filing is best viewed as a routine governance and compensation disclosure rather than a directional signal.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Deep Kalra

Role null

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	12,406	$0.00	--
Grant/Award	Restricted Stock Units	470	$0.00	--

Holdings After Transaction: Restricted Stock Units — 12,406 shares (Direct, null)

Footnotes (1)

1. The Restricted Stock Units are scheduled to vest between April 1, 2027 to April 1, 2030, with expiration dates ranging from March 31, 2031 to March 31, 2034, subject to extension at the sole discretion of the Company and include 6,203 performance-based Restricted Stock Units relating to 6,203 Ordinary Shares subject to achievement of certain performance-based vesting conditions. Performance-based Restricted Stock Units are scheduled to vest on September 30, 2026 with the expiration date May 31, 2030, subject to extension at the sole discretion of the Company.

Key Figures

RSU grant 1: 470 RSUs RSU grant 2: 12,406 RSUs Total new RSUs granted: 12,876 RSUs +3 more

6 metrics

RSU grant 1 470 RSUs Grant on July 1, 2026

RSU grant 2 12,406 RSUs Grant on July 1, 2026

Total new RSUs granted 12,876 RSUs Combined July 1, 2026 grants

Performance-based RSUs 6,203 RSUs Subject to performance-based vesting conditions

Performance RSU vesting date September 30, 2026 Scheduled vesting for one performance-based award

Time-based vesting window April 1, 2027–April 1, 2030 Scheduled vesting for time-based RSUs

Key Terms

Restricted Stock Units, performance-based Restricted Stock Units, vesting, expiration dates, +1 more

5 terms

Restricted Stock Units financial

"He received a total of 12,876 Restricted Stock Units (RSUs) covering an equal number of Ordinary Shares."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

performance-based Restricted Stock Units financial

"The awards also include 6,203 performance-based RSUs that vest only if specified performance conditions are met."

Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.

vesting financial

"Some RSUs are time-based, scheduled to vest between April 1, 2027 and April 1, 2030."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

expiration dates financial

"with expiration dates from March 31, 2031 to March 31, 2034"

Ordinary Shares financial

"Each RSU corresponds to one Ordinary Share, giving the director potential future equity."

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 10:52 AM Accepted by SEC EDGAR 07/02/2026 - 10:51 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^*

Deep Kalra

(Last) (First) (Middle)

FLAT NO. 818 B, DLF CAMELLIAS

DLF CITY PHASE-5

(Street)

GURGAON 122009

(City) (State) (Zip)

INDIA

(Country)

2. Issuer Name and Ticker or Trading Symbol
MakeMyTrip Ltd [ MMYT ]

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)
07/01/2026

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

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
Restricted Stock Units	$0.0005	07/01/2026		A		12,406		(1)	(1)	Ordinary Shares	12,406	$0	12,406	D
Restricted Stock Units	$0.0005	07/01/2026		A		470		(2)	(2)	Ordinary Shares	470	$0	9,870	D

Explanation of Responses:

1. The Restricted Stock Units are scheduled to vest between April 1, 2027 to April 1, 2030, with expiration dates ranging from March 31, 2031 to March 31, 2034, subject to extension at the sole discretion of the Company and include 6,203 performance-based Restricted Stock Units relating to 6,203 Ordinary Shares subject to achievement of certain performance-based vesting conditions.

2. Performance-based Restricted Stock Units are scheduled to vest on September 30, 2026 with the expiration date May 31, 2030, subject to extension at the sole discretion of the Company.

	/s/ Deep Kalra	07/02/2026
	** 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 MakeMyTrip (MMYT) director Deep Kalra report in this Form 4?

He reported receiving equity compensation in the form of Restricted Stock Units. Two RSU awards totaling 12,876 units were granted, each convertible into an equal number of Ordinary Shares, with future vesting and expiration dates defined in the filing and related footnotes.

How many Restricted Stock Units were granted to Deep Kalra in the MMYT filing?

The filing shows grants of 470 and 12,406 Restricted Stock Units, totaling 12,876 RSUs. Each RSU corresponds to one Ordinary Share, giving the director potential future equity subject to vesting, expiration dates and, for certain tranches, performance-based conditions outlined in the footnotes.

Are Deep Kalra’s new MMYT RSUs time-based, performance-based, or both?

They are both time-based and performance-based. Some RSUs vest between April 1, 2027 and April 1, 2030, linked to service. The awards also include 6,203 performance-based RSUs and another performance-based tranche, which vest only if specified performance conditions are achieved by the stated dates.

When do Deep Kalra’s time-based RSUs in MakeMyTrip begin and finish vesting?

The time-based RSUs are scheduled to vest over several years. According to the filing, vesting runs from April 1, 2027 through April 1, 2030. Related expiration dates range from March 31, 2031 to March 31, 2034, subject to possible extension by the company.

What are the key dates for the performance-based RSUs granted to Deep Kalra at MMYT?

The filing notes 6,203 performance-based RSUs with vesting tied to achieving performance conditions, plus another performance-based grant scheduled to vest on September 30, 2026. For these awards, expiration dates extend to May 31, 2030, and may be extended at the company’s discretion.

Does this MakeMyTrip Form 4 show Deep Kalra buying or selling shares on the market?

No, it shows compensation-related grants coded as “A” transactions. These are Restricted Stock Units awarded by the company, not open-market purchases or sales. They provide potential future Ordinary Shares if vesting and, where applicable, performance conditions are satisfied.