Tech behemoth Infosys allotted over 5.11 lakh equity shares to its employees eligible under two schemes on May 12, the firm announced in a stock exchange filing.

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After the announcement on Friday post market hours, Infosys share price rose nearly a percent on BSE in early trade on May 15. In 2023 so far, the company’s stock has erased about 17 percent of investors’ wealth as against benchmark index Sensex which has gained 1.7 percent this year.

Infosys has allotted 5,11,862 equity shares to its employees eligible under two schemes — 1,04,335 equity shares under the 2015 Stock Incentive Compensation Plan and 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019.

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The IT giant added that following allotment on May 12, the issued and subscribed share capital of the firm stood at Rs 20,749,373,460- divided into 4,149,874,692 equity shares of Rs 5/- each.

What is Infosys 2015 Stock Incentive Compensation Plan?

The purpose of this scheme is to attract, retain and motivate talented and critical employees and encourage them to align individual performance with company objectives.

The firm says it is aimed at rewarding employee performance with ownership in proportion to their contribution and aligning employee interest with those of the organisation.

This plan had replaced the 2011 RSU Plan.

What is Infosys Expanded Stock Ownership Program 2019?

According to the IT company, the purpose of this plan is to increase shareholder value, by expanding employee ownership of the company, in order to incentivise, retain and attract key talent through the performance-based stock grant programme.

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The key parameters for performance have an objective to drive execution excellence of the agreed business strategy, and based on creating shareholder value through execution excellence in delivering competitive business growth.

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