Infosys gives Vishal Sikka 22,794 restricted stock units
The grant price of the stock will be `5 apiece and vest over a period of four years
Bangalore: Infosys Ltd on Friday granted Vishal Sikka 22,794 restricted stock units as part of his annual salary package. On 1 August, Sikka took charge as India’s second-largest software services exporter’s first non-founder chief executive and managing director.
In a regulatory filing on Nasdaq, Infosys said the grant price of the stock will be ₹ 5 apiece and vest over a period of four years. However, they will be “...subject to continued employment and upon achieving key performance indicators as set by the board/management development and compensation committee from time to time," Infosys said in the filing.
Sikka’s annual pay package makes him the highest paid chief executive in India’s $118-billion information technology (IT) industry.
Including his stock options, his total package is about $7 million, more than twice that of N. Chandrasekaran, Tata Consultancy Services Ltd’s (TCS) chief executive and managing director.
On Friday, Infosys’s shares on BSE closed up 1.65% at ₹ 3,601.25.
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