Infosys announces stock incentives for mid-level employees

Infosys announces stock incentives for mid-level employees

Agency News

Infosys on Thursday announced stock incentive option to its mid-level 6,949 eligible employees in the form of restricted stock units (RSU). An RSU is a promise from the employer to give its employees shares of the company's stock on a future date if certain restrictions are met.

The stock incentives were part of the offering of Infosys on performance-based stock ownership programme for its employees. Close to five crore shares were allocated to incentivise employees.

"This is to inform that 2,298,020 stock incentives in the form of RSUs were granted to 6,949 mid-level eligible employees of the company/subsidiary companies under the 2015 Stock Incentive Compensation Plan," the company said in a statement to the stock exchanges.

The date of grant for these stock incentives is November 1. Salil Parekh, its CEO, would be granted performance-based incentives in the form of RSU worth Rs 10 crore. But this was opposed by close to 21 percent of public shareholders and came under scrutiny in light of the recent development.

On October 24, Infosys also informed the stock exchanges that the SEC has started an investigation based on the complaint by the whistleblowers.

Infosys stocks are reeling under pressure in the last few days after the whisle blowers’ allegations which blames that company’s CEO and CFO made some corporate misgovernance.