PNB Housing Finance Approves Grant of 2.32 Lakh ESOPs and RSUs
NEW DELHI – PNB Housing Finance Limited (PNBHFL) has announced the grant of a substantial number of stock-based incentives to its employees. In a regulatory filing submitted to the BSE and NSE on December 24, 2025, the company confirmed that its Nomination and Remuneration Committee has approved the issuance of both Employee Stock Option Plans (ESOPs) and Restricted Stock Units (RSUs).
The move is aimed at attracting and retaining top talent while aligning individual employee performance with the company’s long-term strategic objectives.
Breakdown of the Incentive Schemes
The company has utilized two distinct schemes to reward its workforce:
1. ESOP Scheme II 2018
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Quantity: 2,00,000 Options.
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Exercise Price: Fixed at INR 932.85 (based on market price).
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Conversion: Each option converts into one equity share of INR 10 face value.
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Exercise Window: Vested options must be exercised within 3 years from the date of vesting.
2. RSU Scheme 2022
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Quantity: 32,508 RSUs.
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Exercise Price: Fixed at a nominal INR 10.00.
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Conversion: Each unit converts into one equity share of INR 10 face value.
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Exercise Window: Vested units must be exercised within 1 year from the date of vesting.
Vesting Schedule and Performance Conditions
Both the ESOPs and RSUs follow a progressive four-year vesting schedule, subject to the achievement of specific performance conditions:
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After 1 Year: 20% Vesting
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After 2 Years: 20% Vesting
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After 3 Years: 30% Vesting
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After 4 Years: 30% Vesting
The vesting is contingent upon a combination of company-wide milestones and individual performance metrics as outlined in the individual grant letters.
Corporate Governance and Impact
The grants are issued in strict compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. By offering RSUs at a nominal price and ESOPs at market price, PNB Housing Finance provides a balanced incentive structure that rewards both long-term loyalty and immediate performance.
The notification was formally signed by Veena G Kamath, Company Secretary of PNB Housing Finance Limited.