Infosys Chief Executive Officer & MD Salil Parekh’s remuneration for FY21 has been fixed at ₹23 crore. During the previous year, he drew a total remuneration of ₹24.67 crore.
In a notice to the stock exchanges, the Infosys board on April 20, 2020, based on the recommendations of the Nomination and Remuneration Committee, approved the performance-based grant of RSUs amounting to ₹13 crore for the financial year 2021 under the 2015 Stock Incentive Compensation Plan (2015 plan) to Parekh.
These RSUs will vest in line with the current employment agreement. The RSUs will be granted from May 2, and the number of RSU's will be calculated based on the market price at the close of trading on May 2.
The Board, on April 20, based on the recommendation of the Board of Directors of the Company, had approved the grant of annual performance-based stock incentives in the form of Restricted Stock Units (RSUs) to Parekh covering the company’s equity shares having a market value of ₹10 crore as on the date of the grant under the Infosys Expanded Stock Ownership Program-2019 (2019 plan), which shall vest 12 months from the grant subject to the company’s achievement of certain performance criteria as laid out in the 2019 plan.
The Board has also approved the grant of annual performance-based stock incentives in the form of Restricted Stock Units (RSUs) to UB Pravin Rao, COO & Whole-Time Director, covering the company’s equity shares having a market value of ₹4 crore as on the date of the grant under the 2019 plan, which shall vest 12 months from the grant subject to the company’s achievement of certain performance criteria as laid out in the 2019 plan.