Infosys Rewards Top-performing Employees With 5.11 Lakh Equity Shares Under Stock Incentive Plan

Indian multinational corporation Infosys has announced that it has allotted 5.11 lakh equity shares to its top-performing employees as part of a rewards program.

The shares have been distributed in accordance with the Stock Incentive Compensation Plan of 2015 and the Stock Ownership Programme of 2019. Infosys stated in a stock exchange statement on Sunday 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." The schemes' goals are to reward brilliant and important workers for their work by increasing shareholder value.

"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 as hereunder: 1,04,335 equity shares under the 2015 Stock Incentive Compensation Plan; 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019. Consequently, on May 12, 2023, 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." , Infosys said in an exchange filing on May 14.

The move also takes place during a period of substantial employee turnover at the IT behemoth. According to the company's announcement, Infosys had 3,611 fewer employees at the end of Q4FY23 than the prior quarter. In comparison to last year's net increase of 54,396 employees, the company's headcount growth for the year was 29,219.