Karachi: In a recent announcement made on July 15, 2026, Meezan Bank Limited disclosed the issuance of 6,541,796 ordinary shares to its eligible employees under its Employee Stock Option Scheme (ESOS), as approved by the shareholders and the Securities and Exchange Commission of Pakistan (SECP). The shares were allocated on July 8, 2026, and credited to the respective Central Depository Company (CDC) sub-accounts of the eligible participants.

Among the shares issued, a total of 709,999 ordinary shares were distributed to several executives of the bank. Notable allocations include Mr. Irfan Siddiqui, who received a total of 131,668 shares, bringing his holding to 6,098,399 shares, representing 0.34% of the total issued shares. Other executives such as Mr. Ahmed Ali Siddiqui and Mr. Ebrahim Yakoob were also recipients, receiving shares that resulted in minor holdings in the bank.

The issuance forms part of the bank's strategy to incentivize and retain its workforce through equity participation, aligning employee interests with that of shareholders. According to information available from the Pakistan Stock Exchange (PSX), the distribution of shares under such schemes is subject to regulatory disclosures to ensure transparency and compliance.

The shares were issued at a rate of PKR 557.07 per share. Other executives receiving significant share allocations include Mr. Faiz Ur Rehman, with a total of 30,000 shares, Mr. Khalid Zaman Khan with 43,334 shares, and Mr. Muhammad Sohail Khan, who received 20,000 shares, each maintaining a percentage holding of 0.01% or less in the bank.

This issuance is expected to have a moderate move on the individual shareholdings of the executives, given the minor percentage changes in their respective ownership stakes. The market continues to monitor these developments closely as part of assessing the bank's executive compensation and retention strategies.

The designated market category for the shares is through the CDC, ensuring a streamlined process for share allocation and management. This initiative underscores Meezan Bank's commitment to fostering a participative corporate culture and enhancing employee engagement through ownership.