1. Infosys rewards Vishal Sikka with 1.24 lakh more shares

Infosys rewards Vishal Sikka with 1.24 lakh more shares

Infosys Ltd has allotted over 124,000 shares valued at Rs 5 each at par to its first non-founder chief executive Vishal Sikka

By: | Bengaluru | Published: June 24, 2015 10:00 AM
Sikka said: “We’re not worried about that (H1B issue) — I’m a US citizen. We have an impregnable compliance to these regulations. (Express Photo)

Vishal Sikka is paid Rs 32 crore (.08 million) annual salary besides stock option of million (Rs 12.7 crore). (Express Photo)

Infosys Ltd has allotted over 124,000 shares valued at Rs 5 each at par to its first non-founder chief executive Vishal Sikka, the global software major said on Tuesday.

“The board granted 124,061 restricted stock units (shares) to Vishal Sikka at a price of Rs 5 per share, as per the provisions of the 2011 plan,” the company said in a regulatory filing to the Bombay Stock Exchange (BSE).

“The additional share allotment is part of the job contract, which stipulates an annual grant of shares valued at $2 million for every year of his (Sikka) five-year tenure, which began on August 1, 2011,” said a company spokesperson.

The 48-year-old executive is paid Rs 32 crore ($5.08 million) annual salary besides stock option of $2 million (Rs 12.7 crore). The package includes $900,000 base salary and $4.18 million as variable pay per annum.

Sikka’s total package of $7.08 million, including stock units, pales in comparison to a whopping $84 million global software product maker Microsoft pays to its Indian-born chief executive Satya Nadella.

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