Narayana Murthy's Infosys approves Rs 510000000 Employee Stock Option Plans for…
India's second-largest IT firm, Infosys, has announced that its board has approved stock incentives, including Employee Stock Option Plans (ESOPs), valued at Rs 51 crore for CEO and Managing Director Salil Parekh.
These incentives, which fall under categories like ESG and equity-based rewards, are part of Parekh's annual grants. According to a recent regulatory filing, the decision was based on recommendations from the Nomination and Remuneration Committee and as per the terms of Parekh's employment agreement, which had earlier received shareholder approval.
Among them is 'grant of annual performance-based stock incentives (Annual Performance Equity Grant) in the form of Restricted Stock Units (RSUs) covering company's equity shares having a market value of Rs 34.75 crore as on the date of the grant under the 2015 Stock Incentive Compensation Plan (2015 plan)'.
The nod also includes grant of annual performance-based stock incentives (Annual performance equity ESG grant) in the form of RSUs covering company's equity shares having a market value of Rs 2 crore as on the date of the grant under the 2015 Plan, which shall vest 12 months from the date of the grant, subject to the company's achievement of certain environment, social and governance milestones as determined by the board.
It also greenlit grant of annual performance-based stock incentives (Annual performance Equity TSR grant) in the form of RSUs covering company's equity shares having a market value of Rs 5 crore as on the date of the grant under the 2015 Plan. This will vest on or after March 31, 2027 subject to certain criteria.
Infosys also informed that the nod includes: 'The grant of annual performance-based stock incentives (2019 Annual Performance Equity Grant) in the form of Restricted Stock Units (RSU's) covering Company's equity shares having a market value of Rs 10 crore as on the date of the grant under the Infosys Expanded Stock Ownership Program-2019 (2019 Plan), which shall vest 12 months from the date of the grant subject to the company's achievement of certain performance criteria as laid out in the 2019 Plan.'
The ESOPs will be granted with effect from May 2, 2025 and the number of RSUs will be calculated based on the market price at the close of trading on May 2, 2025, the company informed in a BSE filing on Thursday, as it released the Q4 and full year FY25 scorecard.
(With Inputs From PTI)
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