Infosys approved fresh stock rewards for eligible employees under two incentive plans, putting employee payouts in focus in its fourth-quarter filing released on Thursday.
The filing also included a separate grant for CEO and Managing Director Salil Parekh, but the broader signal was the company's continued use of equity rewards for employees.
The board approved the grants on April 23 after recommendations from the Nomination and Remuneration Committee. The awards will be issued under the 2015 Stock Incentive Compensation Plan and the Infosys Expanded Stock Ownership Program 2019.
Employee Grants
Infosys approved a grant of 27,193 restricted stock units under the 2015 plan for eligible employees.
It also cleared performance-based stock incentives under the 2019 plan covering equity shares with a market value of Rs 1.90 crore as on the grant date for eligible employees. The final number of units will be based on the closing market price on the trading day immediately before the grant date.
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The company said grants under the 2015 plan will vest equally over two to three years. Grants under the 2019 plan will vest over two years, subject to the company meeting performance conditions.
The restricted stock units will be granted with effect from May 2, 2026. The final number of units employees receive will depend on the closing market price on the trading day immediately before the grant date.
CEO Grant
Infosys also approved stock incentives worth Rs 51.75 crore for Parekh. The grants include performance-linked, ESG-linked and shareholder return-linked awards, along with a separate grant under the 2019 plan.
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