ICICI Bank's top management, including managing director K V Kamath, enjoys stock options worth Rs 435 crore by way of 47.5 lakh shares granted under ESOP scheme till March this year.Employee Stock Option Scheme (ESOS) of ICICI Bank allows a maximum of 0.05% of issued shares in stock option to any employee in a financial year, according to the draft prospectus filed by the bank for its public issue with SEBI.The aggregate of all such options was a maximum of 5% of total issued equity shares. Thus, ICICI had option to allocate shares worth Rs 4,041.5 crore in stock options as per bank's market cap of Rs 81,660 crore on last Friday.Indian investors own 28.87% shares in the bank, while foreign investors have 71.13% stake.The bank had 40.37 million shares worth Rs 3,665 crore granted in stock option under ESOS to employees at the end fiscal 2007 as against a total of 90.28 crore shares issued.K V Kamath, MD & CEO, ICICI Bank, had stock options granted of 12.75 lakh shares worth Rs 116 crore, based on the bank's closing share price of Rs 908 on June 15.However, Kamath and other employees held only half of the shares granted in stock options and remaining half were outstanding in their name. The employees held 22.38 million shares and had the option to go for additional 22.80 million shares as on March 31.Other senior employees with more than 5 lakh shares in stock options are joint MD Kalpana Morparia (8.05 lakh shares), deputy MD Chanda Kochhar (6.30 lakh shares) and deputy MD Nachiket Mor (6.27 lakh shares).
