Vishal Sikka picks up Infosys shares from his stock option

By: | Published: August 27, 2015 1:41 PM

Infosys chief executive Vishal Sikka bought 10 per cent of the blue chip shares granted to him as restricted stock option units, the global software major said.

Infosys Vishal SikkaInfosys chief executive Vishal Sikka bought 10 per cent of the blue chip shares granted to him as restricted stock option units.

Infosys chief executive Vishal Sikka bought 10 per cent of the blue chip shares granted to him as restricted stock option units, the global software major said on Wednesday.

In a regulatory filing to the Bombay Stock Exchange (BSE), the company said the 10 per cent or 2,279 shares Sikka bought were equivalent to 9,116 shares post-two bonus issues, granted to all investors last fiscal (2014-15).

“In accordance with the first restricted stock units granted on August 21, 2014 to Vishal Sikka, he has exercised the option to buy 10 percent of them, numbering 2,279 shares, which are equivalent to 9,116 shares post-bonus issues,” company secretary A.G.S. Manikantha said in the filing.

The IT outsourcing firm also granted 124,061 shares, valued at Rs.5 on par, to its first non-founder chief executive on June 23 as restricted stock units in accordance with provisions of the 2011 plan for its board members.

The company’s scrip closed on Wednesday at Rs 1,065.35 on the BSE, which is 21.15 points less than Tuesday’s closing rate 1086.50 after opening at Rs 1,099 and touching a low of Rs.1,059 during the intra-day trading.

The 48-year-old Sikka is paid an annual salary of $5.08 million, with $2-million stock option. The package includes $900,000 base salary and $4.18 million as variable pay per annum.

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