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Business News/ Companies / News/  Infosys gives Vishal Sikka 22,794 restricted stock units
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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

Including his stock options, Vishal Sikka’s total package is about $7 million, more than twice that of N. Chandrasekaran, TCS chief executive and managing director. Photo: PTIPremium
Including his stock options, Vishal Sikka’s total package is about $7 million, more than twice that of N. Chandrasekaran, TCS chief executive and managing director. Photo: PTI

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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Published: 22 Aug 2014, 06:57 PM IST
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