Infosys announces stock incentives for employees and top brass: 5 things to know

NEW DELHI: In order to retain talent, India’s second largest IT firm Infosys Thursday said its board has approved a series of performance-based incentives for its employees. This apart, the board also approved stock incentives for the company CEO Salil Parekh and COO U.B. Pravin Rao. Here are a few things to know about the decisions taken by its board.

1) ‘Expanded Stock Ownership Program 2019’ proposes to allocate five crore shares to incentivise employees based on performance. The grants will be vested strictly on performance. Accordingly, it is proposed to allocate a maximum limit of five crore shares (about 1.15% of the equity share capital) of the company under the 2019 Plan.

2) Infosys said it is proposed that CEO and Managing Director Salil Parekh be granted annual performance-based stock incentives in the form of restricted stock units (RSUs) worth ₹10 crore under the 2019 Plan.