Infosys rewards employees by allotting equity shares under two schemes; check details

Employees receive many rewards from IT companies in not just bonuses, incentives but also in the form of equity shares for their key contributions to the growth. And hence, IT giant Infosys has allotted more than 5.11 lakh equity shares to eligible employees. The allotment was done on May 12 under two employee-related schemes. The allotment of shares under these schemes is to expand employees' ownership in the company and as a reward for their performance.

In its exchange filing on May 14, Infosys said, "This is to inform that the Company has allotted 5,11,862 equity shares on May 12, 2023, pursuant to the exercise of Restricted Stock Units by eligible employees."

Of the total shares allotted to the employees, 1,04,335 equity shares were allotted under the 2015 Stock Incentive Compensation Plan; and 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019.

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The purpose of Infosys' 2015 Incentive Compensation plan is to attract retain and motivate talented and critical employees. While further encouraging employees to align individual performance with the company's objectives. Not just, it comes as a reward for employee performance with ownership in proportion to their contribution. Also, align employee interests with those of the organization.

The 2015 Incentive Compensation Plan has replaced Infosys' earlier RSU Plan.

Further, the Infosys Expanded Stock Ownership Program 2019 is to increase shareholder value by expanding employee ownership of the company, in order to incentivize, retain and attract key talent through this performance-based stock grant program.

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Lastly, Infosys said that consequently, on May 12, the issued and subscribed share capital of the Company stands increased to ₹ 20,749,373,460/- divided into 4,149,874,692 equity shares of ₹5/- each.

On BSE, Infosys' share price closed at ₹1,245.55 apiece down by 0.84%. Infosys is the third-largest company in Indian and second largest in the IT segment in terms of market value.

Currently, the company has a market cap of over ₹5.16 lakh crore.