Shillong, May 15: In addition to bonuses and incentives, IT businesses frequently give their employees equity shares in exchange for their significant growth-related contributions.
As a result, Infosys, a global IT company, has granted eligible employees access to more than 5.11 lakh equity shares. On May 12, the allocation was completed under two employee-related programmes. The allocation of shares under these plans aims to increase employee ownership in the business and serve as a type of performance-based compensation.
Infosys stated in a filing to the stock exchange on May 14 that “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.”
1,04,335 stock shares were distributed under the 2015 Stock Incentive Compensation Plan, and 4,07,527 equity shares were distributed under the Infosys Expanded Stock Ownership Programme 2019 of the total shares distributed to the employees.
The 2015 Incentive Compensation Plan for Infosys aims to recruit, retain, and inspire exceptional and essential individuals. Additionally encouraging staff to match personal performance with business goals. Not only that, but it is given as compensation for employee performance, with ownership based on their input. Align the interests of the organisation and the workforce.
Infosys’ former RSU Plan has been replaced by the 2015 Incentive Compensation Plan.
The Infosys Expanded Stock Ownership Programme 2019 also seeks to reward, retain, and attract critical talent through this performance-based stock grant programme, while increasing shareholder value by increasing employee ownership of the business.