Vishal Sikka gets shares worth Rs 8.2 crore from Infosys Welcome gift

New Delhi: The country’s second largest software firm Infosys has granted close to 22,800 restricted stock units (RSUs) — worth over Rs 8.2 crore in shares — to itsnew CEO and Managing Director Vishal Sikka.

“The Management Development and Compensation Committee of the Board has granted 22,794 RSUs to Vishal Sikka. The grantprice of the RSU is Rs 5 per RSU,” Infosys said in a filing to the BSE.

Vishal-Sikka-gets-shares-worth

As per company policy, one RSU is equivalent to oneequity share. At today’s closing price of Rs 3,601.25 on the BSE, Sikka will get 22,794 shares valued at Rs 8.2 crore.

“The RSUs will vest over a period of four years subjectto continued employment and upon achieving Key Performance Indicators as set by the Board/Management Development andCompensation Committee from time to time,” it said.

The RSU grant will also be subject to the terms,definitions and provisions of the 2011 RSU Plan.
Sikka, who was previously executive board member of German IT firm SAP, replaced SD Shibulal from 1 August.

He will receive a salary of USD 5.08 million (Rs 30 crore), including a base salary of  USD 900,000 and a variable pay of USD 4.18 million (subject to achieving fiscal milestones).

About the author

Asmaa Mubita is a Kenyan journalist of international repute with over fifteen years of experience in broadcast journalism. Asmaa Mubita began his journalism career at the Kenyan state broadcaster (KBC) and later worked at the KTN owned by the Standard Group and Citizen Television, the flagship brand of Royal Media Services. These exploits together with his reporting experience with the Voice of America, CNN and BBC have been rewarded with local and global recognition.

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