Infosys CEO Vishal Sikka has been granted 22,794 restricted stock units (RSUs) at a price of Rs 5 per RSU, as part of his compensation structure. In a filing on the stock exchanges on Friday, Infosys said the RSUs will vest over a period of four years subject to continued employment and upon achieving key performance indicators as set by the board/management development and compensation committee from time to time.
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Under the compensation structure for Sikka, he is entitled to an annual grant of restricted stock units (RSUs) covering either the company equity shares or American Depository Shares (ADS) with a value of $2 million. The annual base salary of Sikka is $900,000 with variable component being $4,180,000 ($4.18 million), making him the highest paid executive in the Indian IT services industry.
Sikka has been appointed as CEO and managing director of Infosys for five years from August 1, 2014, till June 13, 2019.
The new CEO of Infosys has the task of taking the company back to the industry leading growth rate. Sikka has called upon his colleagues to employ “design thinking” to set new benchmarks in the industry. He has already taken the top executive team of Infosys to Stanford University to familiarise with the leading cutting edge technologies.