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Infosys announces stock incentives for 6,949 mid-level employees

The announcement comes at a time when the IT major is under regulatory watch in US and India for alleged violations of accounting ethics and financial regularities.

Published: 26th October 2019 08:55 AM  |   Last Updated: 26th October 2019 10:55 AM   |  A+A-

Infosys

For representational purposes (File photo| Pushkar V, EPS)

By Express News Service

NEW DELHI:  Infosys announced on Friday that it has granted 2,298,020 stock incentives to its 6,949 mid-level employees in the form of Restricted Stock Units (RSUs) under the 2015 Stock Incentive Compensation Plan.

ALSO READ| US SEC to seek SEBI's cooperation into whistleblower allegations against Infosys

"The date of grant for these stock incentives is November 1, 2019, in line with the company’s compensation calendar timelines. The exercise price will be the par value of shares. These RSUs will generally vest in four equal instalments," the company said. Under the 2015 Stock Incentive Compensation Plan, the company aims to  retain its workforce by  giving its employees stock ownership to strengthen their commitment as well as enhance the firm’s profitability. 

The announcement comes at a time when the Bengaluru-based IT major is under regulatory watch in US and India for alleged violations of accounting ethics and financial regularities involving CEO Salil Parekh and CFO Nilanjan Roy over a complaint by a whistleblower. Infosys said that it is aware of securities class action lawsuit that has been filed against it in federal court in the US.



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