IT giant has approved stock incentives worth ₹51.75 crore for its Chief Operating Officer and Managing Director, Salil Parekh, according to the company’s regulatory filing.
The filing on Thursday revealed that the board approved the annual grants to Parekh based on the recommendations of the Nomination and Remuneration Committee, in line with the employment agreement approved by shareholders. These grants are part of Parekh’s annual performance-linked compensation structure.
The grant of annual performance-based stock incentives or Annual Performance Equity Grant is in the form of Restricted Stock Units (RSU’s) covering the company’s equity shares, having a market value of ₹34.75 crore. The stock incentives will include an ESG-based annual performance equity award worth ₹2 crore, aiming at environmental, social, and governance targets.
Additionally, he will receive around ₹15 crore in terms of performance-based shares. These will be split into a ₹5 crore RSU grant that will vest on or after March 31, 2027, subject to the two-year cumulative relative Total Shareholder Return, and a ₹10 crore RSU grant that will vest post 12 months, subject to certain targets being met.
The total value of the grants is approximately ₹51.75 crore, with vesting scheduled over one to two years, contingent on board-defined performance conditions and milestones.
The Restricted Stock Units (RSU) will be granted to the CEO on May 2, and the number of RSUs will be calculated based on the market price at the close of trading that day.
The company recorded a net profit of ₹8,501 crore in Q4FY26, at a 27.8 per cent surge (QoQ) and a revenue growth of 2 per cent sequentially to ₹46,402 crore. It guided for a revenue growth of 1.5-3.5 per cent in cc terms for FY27.
(filed by BL intern Adithya Lalgudi)