Bengaluru, May 16 (IANS): Software major Infosys on Thursday granted blue-chip shares valued at Rs 4 crore at market price to its Chief Operating Officer U.B. Pravin Rao as an incentive.
"The grant of stock incentives to Rao is to incentivise him to increase shareholder value and drive execution excellence of the business strategy," the city-based IT major in a regulatory filing to the BSE.
On approval by shareholders, Rao will be allotted the shares under the expanded stock ownership programme - 2019 annual performance equity grant.
The stock will vest with him for 12 months from the date of each grant, which is based on the performance criteria mentioned in the 2019 plan.