Infosys has given ESOPs of Rs 40 crore to CEO Salil Parekh and other top brass
India’s second-largest IT services company, Infosys has given employee stock options (ESOPs) of nearly Rs 40 crore to its top brass, including CEO Salil Parekh and COO Pravin Rao, according to a filing with US Securities and Exchange Commission.
CEO of the company Salil Parekh, who completed three years at the helm of Infosys in January and helped it return to growth mode, received shares worth Rs 4.33 crore while Pravin Rao, COO, Infosys got Rs 1.94 crore of stock.
Infosys has vested the ESOPs to more than 30 executives, including chief financial officer Nilanjan Roy, chief of HR Shankar Krishnamurthy, presidents S Ravi Kumar and Mohit Joshi.
Stock options were approved by the company’s board and remuneration committee under Stock Incentive Compensation Plan to the eligible employees of the Company.
According to Economic Times Report, in a separate regulatory filing, Janhavi Nilekani, the daughter of Infosys Chairman Nandan Nilekani and part of the promoter group, gifted 777,600 equity shares worth Rs 106 crore to Tanush Nilekani Chandra, her son.
Infosys, which has won large deals from clients such as Google and Daimler, is expected to grow the fastest among its peers in FY21. In January, the company raised its guidance and said it would grow 4.5-5% in FY21 after closing its highest ever deal wins of $7.13 billion in a quarter.