As part of two employee-related schemes, IT giant Infosys has recently granted over 5.11 lakh equity shares to eligible employees. This share allotment aims to enhance employees’ ownership in the company and serves as a gesture of appreciation for their outstanding performance.
According to Infosys’ filing with the exchange on May 14, the company confirmed the allotment of 5,11,862 equity shares on May 12, 2023. These shares were issued in response to the exercise of restricted stock units by eligible employees.
Out of the total shares allocated, 1,04,335 equity shares were assigned under the 2015 stock incentive compensation plan, and 4,07,527 equity shares were granted under the Infosys expanded stock ownership programme 2019.
The 2015 incentive compensation plan of Infosys serves the purpose of attracting, retaining, and motivating talented employees who are critical to the company’s growth. It incentivises employees to align their individual performance with the organisation’s objectives while rewarding their contribution with ownership.
The main aim of the Infosys Expanded Stock Ownership Program 2019 is to increase the value for shareholders by expanding employee ownership within the company. This performance-based stock grant program serves as an incentive to retain and attract key talent.
As a result of these allotments, the subscribed share capital of Infosys has now increased to Rs 20,749,373,460/-, divided into 4,149,874,692 equity shares of Rs 5/- each.
On the Bombay stock exchange (BSE), Infosys’ share price closed at Rs 1,245.55 apiece, marking a decrease of 0.84 percent. With a market cap exceeding Rs 5.16 lakh crore, Infosys ranks as the third-largest company in India and the second-largest in the IT segment in terms of market value.
