BENGALURU, India, May 4, 2018 /PRNewswire/ --
Please find below the following disclosures for your information and records -
1. Pursuant to the approval of shareholders and as per the terms of the employment agreement with Salil Parekh, CEO and Managing Director, the Nomination and Remuneration Committee and the Board has approved the Annual Performance Equity Grant of RSUs with a value of Rupees Thirteen Hundred Lakhs (₹ 13,00,00,000). 108,600 shares were granted based on the market price at the close of trading on May 2, 2018. The number of shares that will vest shall be calculated upon the CEO's successful completion of three (3) full fiscal years with the Company, concluding on March 31, 2021, and will be determined by Company's performance on Total Shareholder Return, Quality of Revenue and Organizational Capability building, as determined by the Board (or its committee) in its sole discretion for the said three-year period.
2. The Board of Directors on the recommendation of the Nomination and Remuneration Committee has effective January 1, 2018 approved a change in the salary of A.G.S. Manikantha, Company Secretary to a fixed pay Rs 50, 86, 254 p.a, and a variable long term bonus of Rs. 13,87, 259 for a total compensation of Rs 64,73,513. In addition, he shall be entitled to receive stock incentives as may be decided by the Nomination and Remuneration Committee from time to time based on performance.
This is a disclosure announcement from PR Newswire.
SOURCE Infosys Limited