Vishal Sikka buys 9,116 shares as part of restricted stock units

New Delhi: Country’s second largest software services firm Infosys on Wednesday said its chief executive Vishal Sikka has acquired 9,116 shares after partly exercising the restricted stock units awarded to him last year. [caption id=“attachment_2409296” align=“alignleft” width=“380”] Vishal Sikka. Reuters[/caption] “In accordance to the first RSU Grant made on August 21, 2014 to Dr Vishal Sikka, CEO and Managing Director of the Company, 10 per cent of the RSUs numbering 2,279 shares (equivalent to 9,116 shares post bonus issues) have vested on August 20, 2015,” Infosys said in a filing to the BSE. Sikka has exercised the above vested RSUs numbering 2,279 shares, it added. Last year, the Bengaluru-based firm had granted 22,794 RSUs to Sikka. The RSUs, issued at a grant price of Rs 5 apiece, were to vest over a period of four years subject to continued employment and upon achieving key performance indicators set by the Board/Management Development and Compensation Committee, it had said. Shares of Infosys on Wednesday closed at Rs 1,065.35, down 1.95 percent from the previous close on the BSE. Second is “Do” which refers to the service offering on design thinking and design-led initiatives that will provide Infosys the framework for finding, understanding and defining the problems that are most important to clients and their businesses. Third is “Ai” which refers to platforms as a service to build intelligent solutions. This includes Infosys Information Platform, an open source data analytics platform that enables businesses to operationalise their data assets and uncover new opportunities for rapid innovation and growth. “Ki” and “Do” services will be offered by Infosys Consulting, the company said, adding that it plans to offer platforms to address the Internet of Things (IoT) and Application Programming Interface (API) requirements of its clients. “Ai- is combining; Ki- the energy, the knowledge; and Do- the path- together will help us and our clients combine our energy and knowledge along our path,” Sikka said. Also informing that the announcement coincides with the birthday of Infosys founder N R Narayana Murthy, he said that the company is working on a strategy about the duality of “renew and new” in the last thirteen months or so. “All of our service offerings, all of our service clients we have been renewing those, we have been renewing those with the help of automation, we have been renewing those on the basis of innovation. We have been working on amazing new areas like zero distance,” he added. Projecting a “tremendous” potential for Infosys to grow and lead, Sikka had earlier said that the management’s mission is to prepare the company for realising the aspirational goal of achieving USD 20 billion revenue by 2020. Citing opportunities in the wake of global digital transformation, he had said Infosys has the potential to become a leading IT services company in the world and a bellwether once again. The company, which was facing laggard performance compared to peers like TCS and HCL Technologies, has embarked on a new path under its CEO Vishal Sikka to turn things around. Sikka has said the management’s mission is to prepare the company for realising the aspirational goal of achieving USD 20 billion revenue by 2020. PTI