Top managerial personnel, including the CEO, of Infosys have been granted stock incentives.
Indicating this in a filing with stock exchanges, the information technology major said they had been given this under the 2015 Stock Incentive Compensation Plan approved by the board and the nomination and remuneration committee of the company.
CEO Salil Parekh, who succeeded Vishal Sikka, will get 1,13,024 restricted stock units.
They have been granted these stocks on February 27, 2018.
“The exercise price will be the par value of shares,'' Infosys said.
According to the vesting schedule, Mr. Parekh will get 84,768 units as a one-time grant over a period of two years. The rest will accrue to him as annual grants over a period of three years.
M.D. Ranganath, CFO, S. Ravi Kumar, President, and Mohit Joshi, President, will get 66,850 units each. And, the vesting schedule for them will be over a four-year period. Krishnamurthy Shankar, Head of Human Resources, and A.G.S. Manikantha, Company Secretary, have been granted 12,400 and 2,000 units, respectively. Other employees will get 16,02,510 units.
