Infosys has granted around 38 lakh stock incentive units to eligible Key Managerial Personnel (KMP) and employees under the “2015 Incentive Plan” and “Expanded Stock Ownership Program 2019,” according to its declaration to the stock exchange.
The Company’s Board, nomination and remuneration committee has granted the stock option plan and extended it to 4 KMP under the 2015 plan and six under the 2019 plan.
- 4 Key Managerial Personnel got a grant of 213400 restricted stock units (RSU) and the other six KMP 106000 performance stock units (PSU).
- Under the 2015 plan, Infosys granted 2160460 restricted stock units to 7966 eligible employees and 1308400 performance stock units to 480 employees.
- The exercise value will be the par value of shares.
KMP at the Company includes CEO Salil Parekh, COO UB Pravin Rao, President Mohit Joshi, Ravi Kumar S, CFO Nilanjan Roy, Group HR head Krishnamurthy Shankar, Secretary of Company Manikantha AGS, and group general counsel Inderpreet Sawhney.
The 2015 RSU plan has a vesting period of 4 years equal, the 2019 plan (PSU) has three years equal and is subject to the Company’s achievement of performance parameters as defined by the Company.
Last month, Infosys told the United States Securities and Exchange Commission (SEC) that many of its KMP and directors had acquired stock incentives worth Rs 35 crore.
Infosys shares prices have given more than 100 per cent returns to its investors in a year as the Company’s stock price was around 631 on April 8, 2020, and in today’s April 8, 2021 trading session, the open price is at 1430. Infosys will announce its Q4 results on April 14.
In the third quarter of FY 2021, Company showed a steady and impressive movement from recovery to growth. Infosys has raised its forecast based on its highest-ever total contract value registered 7.13 billion USD in third-quarter results.
Recently, Company has also signed many major deals, including German luxury carmaker and Mercedes-Benz owner Daimler in December.