SBFC Finance has approved the ‘SBFC Stock Option Policy 2025 – I’, consisting of 1,21,00,000 employee stock options. There have been personnel changes, including the resignation of the Head of Internal Audit, Mr. Shanesh Jain, effective November 1, 2025, and Mr. Viney Vaid, Head – Credit. Mr. Sreenivas Mylavarapu has been appointed as the Chief Credit Officer, also effective November 1, 2025.
Employee Stock Option Policy Approved
The Board of Directors has approved the ‘SBFC Stock Option Policy 2025 – I’, following the recommendation of the Nomination and Remuneration Committee. The policy includes a pool of 1,21,00,000 (One Crore and Twenty – One Lakh) employee stock options. The options are subject to shareholder approval via postal ballot. Eligible employees will be granted these options in tranches as determined by the NRC.
Resignation of Internal Auditor
Mr. Shanesh Jain, Head – Internal Audit, has resigned effective November 1, 2025, due to personal reasons (relocation to UAE). The Audit Committee and the Board have acknowledged his resignation.
Senior Management Changes
Several changes in senior management have been announced:
Mr. Viney Vaid, Head – Credit, has resigned effective November 1, 2025, citing personal reasons.
Mr. Sreenivas Mylavarapu has been appointed as the Chief Credit Officer, effective November 1, 2025.
Details of Stock Option Policy
The SBFC Stock Option Policy 2025-I (“ESOP Policy”) comprises 1,21,00,000 employee stock options, which requires shareholder approval. The exercise price will be determined based on the average closing price of the immediate five trading days before the relevant date. The ESOPs can be exercised within six months from vesting.
The ESOP Policy will be administered by the NRC, which decides the options to be granted to each eligible employee. Upon exercise, each vested option is convertible to one equity share of the company.
Source: BSE
