INSUBCONTINENT EXCLUSIVE:
Authors: Super UserInfosys Board approved the annual performance equity grant of restricted stock units (RSUs) amounting to Rs 13 crore
In a stock market filing, the Bengaluru-headquartered company announced, "Pursuant to the approval of shareholders and as per the terms of
the employment agreement with Salil Parekh, CEO and managing director, the nomination and remuneration committee and the Board has approved
the annual performance equity grant of RSUs with a value of Rupees Thirteen Hundred Lakhs.Salil Parekh joined Infosys in January this year
following a discord occurred between Infosys co-founder NR Narayana Murthy and the previous management led by Vishal Sikka over corporate
governance issues including the one relating to severance package to former CFO Rajiv Bansal.: Infosys CEO Salil Parekh Delivers In His
First Quarter, Net Profit At Rs
Infosys further announced in the stock filing: "The company further said that 108,600 shares were granted based on the market price at the
close of trading on May 2, 2018."However, the number of shares that will vest will depend on a host of factors, the primary being the
completion of three years of Salil Parekh in the organisation
"The number of shares that will vest shall be calculated upon the CEO's successful completion of three full fiscal years with the company,
concluding on March 31, 2021, and will be determined by company's performance on total shareholder return, quality of revenue and
organizational capability building, as determined by the Board (or it committee) in its sole discretion for the said three-year period,"
