Tech behemoth Infosys has allotted over 5.11 lakh of equity shares to eligible employees under two schemes. The announcement was made by the company after the filing on the stock exchange. Reportedly, the schemes are aimed at retaining top-performing talents on May 12.According to the sources, the current market value of 5,11,862 shares is valued at Rs 64 crore. In addition, the IT firm stated that 4,07,527 equity shares have been allocated under the Infosys Expanded Stock Ownership Programme 2019 and 1,04,335 equity shares have been allocated under the 2015 Stock Incentive Compensation Plan.According to the information, the purpose of the expansion of the stock ownership programme 2019 is to expand ownership of the company and incentivise, retain and attract key talent through this performance-based stock grant programme.Everyone who works for Infosys is qualified to take part in the Plan. Infosys stated that the evaluation process used to determine an employees eligibility for the grant of restricted stock units under this plan is determined by an administrator and is based on their level within the organisation, their performance and potential for the future, as well as any other criteria as may be decided upon from time to time by the administrator.What is the 2015 incentive compensation planThe 2015 Infosys Incentive Compensation Plan strives to attract, motivate, and inspire outstanding and crucial personnel. encouraging people to align personal success with organisational aims. Additionally, it is awarded as payment for employee performance and is owned with their involvement. Align the workforces and the organizations interests.The 2015 Incentive Compensation Plan has taken the place of Infosys previous RSU plan.Reason for Infosys expansion planAccording to the IT giant, the purpose of the plan is to increase the shareholders value, by expanding employee ownership in the company and to retain key talent through the performance-based stock grant programme.Noteworthy, on the BSE today, the shares of Infosys were trading 1 percent higher at Rs 1,257. The 2015 Stock Incentive Compensation Plans goals are to recruit, keep, and inspire talented and critical workers while rewarding performance with ownership in proportion to each individuals contribution. The vesting duration of an award is determined by the administrator, although the minimum vesting period is typically set at 12 months from the date the award was granted.
