Infosys Greenlights Major ESOP Grants to CEO Salil Parekh

India's IT giant Infosys has approved over Rs 51 crore in Employee Stock Option Plans (ESOPs) for CEO Salil Parekh. These incentives are distributed under various categories, with significant focus on ESG and equity. The grants are based on performance and company-specific criteria, scheduled to vest in upcoming years.

Infosys, India's second-largest IT company, has announced a significant step in employee compensation by approving Rs 51 crore worth of stock incentives for its CEO and Managing Director, Salil Parekh. The decision was ratified by the board following recommendations from the Nomination and Remuneration Committee.

The approved stock incentives cover various facets like ESG and equity, with performance-based Restricted Stock Units (RSUs) forming a critical component. One such grant, valued at Rs 34.75 crore, is part of the 2015 Stock Incentive Compensation Plan. These RSUs will vest 12 months post-grant, conditional upon achieving predefined performance targets.

Additionally, the board approved grants focusing on ESG milestones and total shareholder return (TSR), with vesting timelines stretching up to 2027. A separate grant under the 2019 Stock Ownership Program, valued at Rs 10 crore, will also bemused due in 2025. These strategic equity distributions underline Infosys's commitment to aligning leadership performance with firm objectives.

(With inputs from agencies.)