INSUBCONTINENT EXCLUSIVE:
Infosys approved performance-based stock units worth Rs 13 crore for MD CEO Salil Parekh.Infosys' board of directors today approved
performance-based restricted stock units (RSUs) worth Rs 13 crore for the company's managing director and CEO, Salil Parekh
The grant of stock units to Mr Parekh is for financial year 2020, the IT major said
The RSUs will be granted with effect from May 2, 2019 and the number of stock units will be calculated based on the market price at the
close of trading on May 2, 2019, said the country's second largest IT services exporter.Restricted stock units are issued to an employee
through a vesting plan and distribution schedule after he or she achieves certain performance milestones, according to analysts.Apart from
granting restricted stock units to Mr Parekh, the Infosys board also approved annual time-based RSUs of fair value Rs 1.75 crore for its
CFO, Nilanjan Roy, in accordance with his employment agreement, Infosys said.Mr Parekh was appointed the CEO of Infosys in 2018
He joined Infosys from Capgemini where he was a member of the group executive board
He has master's degrees in engineering in computer science and mechanical engineering from Cornell University, and a bachelor's degree in
technology (aeronautical engineering) from the Indian Institute of Technology, Bombay.Infosys also reported its earnings for the quarter
Its net profit in the January-March quarter came in at Rs 4,074 crore, marking a sequential increase of 13 per cent supported by strong
growth in its financial services segment and large deal wins.Get the latest election news, live updates and election schedule for Lok Sabha
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