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Infosys gives stock incentives to over 6,000 mid level employees 

Infosys gives stock incentives to over 6,000 mid-level employees 

Infosys gives stock incentives to over 6,000 mid-level employees 
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By Swathi Moorthy  Oct 25, 2019 7:46:57 AM IST (Updated)

CEO Salil Parekh would be granted performance-based incentive in the form of RSUs worth Rs 10 crore, which was opposed by close to 21 percent of public shareholders and came under scrutiny in the light of recent development.

Infosys on Thursday announced a 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 restricted stock units 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 filed with the stock exchanges.

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“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 added.
In April 2019, Infosys board had approved performance-based stock ownership programme for employees. Around five crore shares were allocated to incentive employees.
CEO Salil Parekh would be granted performance-based incentive in the form of RSUs worth Rs 10 crore, which was opposed by close to 21 percent of public shareholders and came under scrutiny in the light of recent development.
​On Thursday, Infosys also informed the stock exchanges that the SEC has started an investigation based on the complaint by the whistleblowers. The whistleblowers say that the emails and voice recordings show that CEO Salil Parekh and CFO Nilanjan Roy violated corporate governance norms and window-dressed accounts.​
As reported by Moneycontrol​, Infosys could be in the unenviable position of parting ways with CEO Parekh and the finance chief Nilanjan Roy if the whistleblowers’ allegations of corporate misgovernance prove to be substantially true.
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