Information technology giant Infosys on April 17 granted employee stock option plans (ESOPs) worth about Rs 50 crore to Chief Executive Officer and Managing Director Salil Parekh in FY25.
This grant includes annual performance-based stock incentives, under various performance plans such as equity and ESG grant, in the form of Restricted Stock Units (RSU).
The vesting period of ESOPs depends on the nature of the grant, lasting between 12 months and 24 months from the date of the grant, subject to achievement of performance targets as determined by the Board.
Additionally, the Bengaluru-based company has granted 5,000 restricted stock units (RSUs) to eligible employees, which would vest equally over a period of four years, and the exercise price will be equal to the par value of the share.
Meanwhile, Parekh was the second-highest paid CEO of an IT company in India in FY24 at Rs 66.25 crore, according to remuneration data compiled from annual reports. Parekh’s salary was next only to Wipro’s former CEO Thierry Delaporte, who earned $20 million (about Rs 166 crore).
However, Parekh’s FY23 compensation had declined to Rs 56 crore from Rs 71 crore in FY22.
The increase in FY24 was primarily because Parekh exercised higher RSUs during the year, the Bengaluru-based IT service company’s annual report showed. Restricted stock units are a form of equity compensation offered to employees.
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