- Infosys CEO Salil Parekh received stock grants worth Rs 51.75 crore approved by the board.
- Grants include performance, ESG, and shareholder return-linked awards under 2015 and 2019 plans.
- CEO's Rs 34.75 crore restricted stock units vest after 12 months based on performance targets.
Infosys Chief Executive Officer and Managing Director Salil Parekh received board-approved stock grants worth Rs 51.75 crore, while the company also cleared fresh awards for eligible employees, according to an exchange filing released with its fourth-quarter results on Thursday.
The board approved the grants on April 23 following recommendations from the Nomination and Remuneration Committee. The awards will be issued under the company's 2015 Stock Incentive Compensation Plan and the Infosys Expanded Stock Ownership Program 2019.
The grants to Parekh include performance-linked, ESG-linked and shareholder return-linked awards, while employee grants will vest over two to three years depending on the scheme and performance conditions.
CEO Parekh Grants
Infosys approved an annual performance equity grant worth Rs 34.75 crore for Parekh in the form of restricted stock units under the 2015 plan. The award will vest 12 months from the grant date, subject to performance targets set by the board.
The company also approved an ESG-linked grant worth Rs 2 crore under the same plan. This will vest after 12 months if Infosys meets environmental, social and governance milestones determined by the board.
A total shareholder return-linked grant worth Rs 5 crore was also approved under the 2015 plan. This will vest on or after March 31, 2027, based on the company's cumulative relative TSR performance over a two-year period.
Infosys also cleared a Rs 10 crore grant under the 2019 plan. This award will vest after 12 months, subject to performance criteria under that scheme.
The company said these RSUs will be granted with effect from May 2, 2026. The final number of units will be calculated using the closing market price on the trading day immediately preceding the grant date.
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Employee Awards
The board also approved a grant of 27,193 restricted stock units under the 2015 plan for eligible employees.
It further 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.
Infosys said grants under the 2015 plan will vest equally over two to three years, while grants under the 2019 plan will vest over two years, subject to the company meeting performance conditions.
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