A multinational corporation that provides information technology, consultant, and business process service, Wipro has an allotment of approximately 3,98,733 shares to its eligible employees as stock options through an exchange filing.
3,96,893 shares were given under the ADS Restricted Stock Unit Plan 2004,1840 were allocated under the Restricted Stock Unit Plan 2007.
According to reports, Wipro will reward 80.25% variable pay to employees in Q4. The company gave 87% variable pay in Q3 and 100% in Q2.
Wipro saw a reduction in employee count from January to March 2023. The firm’s total headcount at the end of the March quarter slipped to 256,921 from 258,744 in the last quarter. Wipro has reduced its headcount by 1,823.
Earlier, Infosys said that it will be allocating more than 5.11 lakh equity shares to top-performing employees.
Infosys said in the exchange filing, “This is to inform that the Company has allotted 5,11,862 equity shares on May 12, 2023, pursuant to the exercise of Restricted Stock Units by eligible employees.”
The pursuant to the exercise of Restricted Stock Units by eligible employees as hereunder:
- 1,04,335 equity shares under the 2015 Stock Incentive Compensation Plan.
- 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019.
Consequently, on May 12, 2023, the issued and subscribed share capital of the company stands increased to Rs.20,749,373,460/- divided into 4,149,874,692 equity shares of Rs. 5/- each.
Infosys will provide an average variable payout for Q4FY23 that has been reduced to 60 percent at an organizational level.
The employees will receive individual emails regarding the Payout. The variable pay would be disbursed along with the May salary. In Q1FY23, Infosys had lowered variable payout to 70 percent, which was then reduced to 65 percent in Q2.
