Infosys staff to get 50 mn shares; CEO awarded units worth Rs 10 crore

India’s second largest IT firm Infosys 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.

“…whereas under the 2019 Plan, the grants will vest strictly on performance. Accordingly, it is proposed to allocate a maximum limit of five crore shares (about 1.15 per cent of the equity share capital) of the company under the 2019 Plan,” it added.