Karachi: Meezan Bank Limited has announced the issuance of 6,541,796 ordinary shares as part of its Employee Stock Option Scheme (ESOS), according to a disclosure made to the Pakistan Stock Exchange (PSX) on July 15, 2026. The issuance, which took place on July 8, 2026, was approved by the shareholders and the Securities and Exchange Commission of Pakistan (SECP).
The Employee Stock Option Scheme is a strategic initiative by Meezan Bank to enhance employee participation and retain talent by offering equity ownership. Of the total shares issued, 709,999 ordinary shares were allocated to various executives of the bank, credited directly to their respective Central Depository Company (CDC) sub-accounts.
Among the notable allocations, Mr. Irfan Siddiqui received two substantial tranches amounting to 38,334 and 93,334 shares respectively, bringing his total to 6,098,399 shares, representing a 0.34% stake. Meanwhile, Mr. Ahmed Ali Siddiqui was allocated shares in multiple transactions totaling 38,334 shares, resulting in a cumulative holding of 240,206 shares at a consistent rate of PKR 557.07 per share, which is classified as no change in percentage terms.
According to information available from the Pakistan Stock Exchange (PSX), the issuance aligns with the market's regulations under PSX Regulation 5.6.4, which outlines the disclosure requirements for interest by relevant persons holding company shares.
Other executives receiving allocations include Mr. Ebrahim Yakoob, Mr. Faiz Ur Rehman, Mr. Khalid Zaman Khan, and Mr. Muhammad Abdullah, each receiving shares in quantities reflecting varying degrees of ownership without significant percentage movements. The allocations were consistent with the terms of the ESOS, with the shares priced uniformly at PKR 557.07 each.
This move by Meezan Bank is a reflection of its commitment to aligning employee interests with those of the shareholders, fostering a sense of ownership among its workforce. The bank, which occupies a significant position in the financial sector, continues to leverage such schemes to drive performance and loyalty among its staff.