Infosys Announces Stock Incentives For Nearly 7,000 Mid-Level Employees
The development comes as Infosys grapples with allegations of unethical measures being adopted by senior management officials to boost revenues and profits.
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Infosys has announced stock incentive option to its mid-level 6,949 eligible employees in the form of restricted stock units (RSU).
"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, in line with the company's compensation calendar timelines. The exercise price will be par value of shares. These RSUs will generally vest in four equal instalments," the company added.
The development comes as Infosys grapples with allegations of unethical measures being adopted by senior management officials to boost revenues and profits. The matter is being probed by US Securities and Exchange Commission besides the Securities and Exchange Board of India.
In April, Infosys' board had approved performance-based stock ownership programme for employees. Close to five crore shares were allocated to incentivise employees.
Last month, the software major was awarded number three ranking on Forbes list of The World's Best Regarded Companies for 2019 which track each of top 250 companies on parameters of trustworthiness, honesty, social conduct, fairness to its employees and the performance of its products and services.