Infosys board approves ‘2019 Plan’, to give stock incentives worth Rs 10 crore to CEO Salil Parekh

NEW DELHI: India’s second largest IT firm Infosys on Thursday said its board has approved an ‘Expanded Stock Ownership Program 2019’ that proposes to allocate five crore shares to incentivise employees based on performance.
In a regulatory filing, Infosys termed the latest programme ‘2019 Plan’ as being “distinct” from previous plan of 2015 where the granted shares largely vested based on time.
In its filing, 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 Rs 10 crore under the 2019 Plan.
This will vest a year from the date of each grant, the filing.