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Infosys : Employees of IT companies often not only get bonus and incentives from their company but sometimes they also get incentives in the form of equity shares for their contribution. The country’s IT giant Infosys has also taken a similar step and allotted over 5.11 lakh equity shares to its eligible employees. This allotment has been done under two employee related schemes of Infosys and allotment took place last week on 12th May.
Why did Infosys give shares to the employees?
Infosys gave these shares to its employees as it wanted to reward some employees for their good performance. Apart from this, Infosys also wants that there should be some increase in the ownership rights of the employees in the company. Infosys said in an exchange filing on May 14 that the company is notifying that it has issued 5,11,862 equity shares to certain of its employees on May 12, 2023. It is issued in the form of exercise of restricted stock units of eligible employees.
How many shares were issued?
Out of the number of shares allotted to eligible employees, 1,04,335 equity shares have been issued under the 2015 Stock Incentive Compensation Plan. Apart from this, 4,07,527 equity shares have been issued under the Infosys Expanded Stock Ownership Program 2029.
What is the purpose of Infosys
The issuance of equity shares by Infosys to its employees under the 2015 Stock Incentive Compensation Plan is aimed at retaining talented and valuable employees. They should be linked not only to their growth but also to the growth ratios of the company so that their performance can be improved. Through this equity share allotment, not only the performance of the employees but also the growth of the company is being given to them in the form of ownership. This will make them more concerned about the interests of the organization as employees of the company and will have a good impact.
