Stocks

Infosys allots 2.23 lakh equity shares under 2015 Stock Incentive Compensation Plan

PTI New Delhi | Updated on February 28, 2020 Published on February 28, 2020

IT services major Infosys on Thursday said it has allotted 2.23 lakh equity shares under its 2015 Stock Incentive Compensation Plan to the CEO, COO and other eligible employees. It further said the issued and subscribed share capital of the company has consequently “increased to ₹21,29,44,27,185, divided into 4,25,88,85,437 equity shares of ₹5 each.”

In a regulatory filing, Infosys said it “has allotted 2,23,297 equity shares under the 2015 Stock Incentive Compensation Plan to the eligible employees of the company on February 26, 2020, pursuant to the exercise of Restricted Stock Units under ADR Issue.”

Infosys, on Wednesday, had informed the stock exchanges that it has granted stock incentives worth ₹3.25 crore to CEO Salil Parekh under the 2015 Incentive Compensation Plan. The incentive had been offered in the form of Restricted Stock Units (RSUs) and they have a three-year equal vesting schedule, it had said. “The date of grant for these stock incentive units is February 27, and the exercise price will be the par value of shares,” it had said.

Also, COO UB Pravin Rao received 58,650 RSUs and five key managerial personnel (KMPs) will receive stock incentives of 3,53,270. Another 371 eligible employees were granted 14,87,150 RSUs under the same scheme. These shares will have four-year equal vesting period.

Published on February 28, 2020
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