BENGALURU, India, May 16, 2019 /CNW/ -- Infosys (NYSE: INFY), a
global leader in next-generation digital services and consulting,
today announced that its board of directors has approved the
Infosys Expanded Stock Ownership Program 2019 that links long term
employee incentives with shareholder value creation. Subject to
shareholder approval, this unique plan proposes to allocate 50 mn
shares (or 5 crore shares) equating
1.15% of the company's equity shares to a broad base of employees,
which will vest on challenging performance criteria.
This program builds on the strong legacy of meritocracy that was
established by the founders, and strengthens the company's efforts
towards wealth creation for employees, enhanced shareholder returns
and delight for customers. The company has been a pioneer in
India, rewarding its employees
through stock ownership programs starting in 1994, including the
2015 Incentive Compensation Plan.
The Infosys Expanded Stock Ownership Program 2019, under which
grants will vest based on performance, aims to align employee
interest with shareholder value creation, incentivize, attract and
retain key talent, and reward employee performance with ownership.
The grants allocated to employees over a period of seven years will
vest based on challenging performance criteria of a) relative Total
Shareholder Return (TSR) against an industry peer group, b)
relative TSR against domestic and global indices and c) operating
lead performance metrics such as total revenue and digital revenue
growth, and operating margins.
Salil Parekh, Chief Executive
Officer and Managing Director, Infosys, said, "Infosys has been
a pioneer for many firsts in India, and this program is a key milestone as
it sets another benchmark in the industry. Our employees are our
biggest asset, and through this program we aim to recognize and
reward individuals who are committed to driving value creation for
all stakeholders through their continued and consistent
performance. By making employees owners, they get an opportunity to
be beneficiaries in the long term success of the company and
realize the results of their work and dedication."
About Infosys
Infosys is a global leader in next-generation digital
services and consulting. We enable clients in 45
countries to navigate their digital transformation. With over
three decades of experience in managing the systems and
workings of global enterprises, we expertly steer our clients
through their digital journey. We do it by enabling the
enterprise with an AI-powered core that helps prioritize the
execution of change. We also empower the business with agile
digital at scale to deliver unprecedented levels of performance and
customer delight. Our always-on learning agenda drives their
continuous improvement through building and transferring
digital skills, expertise, and ideas from our
innovation ecosystem.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements mentioned in this release concerning our
future growth prospects and our future business expectations are
forward-looking statements intended to qualify for the 'safe
harbor' under the Private Securities Litigation Reform Act of 1995.
Such statements involve a number of risks and uncertainties that
could cause actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding fluctuations in earnings, fluctuations in
foreign exchange rates, our ability to manage growth, intense
competition in IT services including those factors which may affect
our cost advantage, wage increases in India, our ability to attract and retain
highly skilled professionals, time and cost overruns on
fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our
ability to manage our international operations, reduced demand for
technology in our key focus areas, disruptions in telecommunication
networks or system failures, our ability to successfully complete
and integrate potential acquisitions, liability for damages on our
service contracts, the success of the companies in which Infosys
has made strategic investments, withdrawal or expiration of
governmental fiscal incentives, political instability and regional
conflicts, legal restrictions on raising capital or acquiring
companies outside India, and
unauthorized use of our intellectual property and general economic
conditions affecting our industry. Additional risks that could
affect our future operating results are more fully described in our
United States Securities and Exchange Commission filings including
our Annual Report on Form 20-F for the fiscal year ended
March 31, 2018. These filings are
available at www.sec.gov. Infosys may, from time to time, make
additional written and oral forward-looking statements, including
statements contained in the company's filings with the Securities
and Exchange Commission and our reports to shareholders. The
company does not undertake to update any forward-looking statements
that may be made from time to time by or on behalf of the company
unless it is required by law.
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SOURCE Infosys