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Wipro grants fresh round of RSUs to select employees

Wipro grants fresh round of RSUs to select employees
Photo Credit: 123RF.com
14 Jul, 2021

Information technology (IT) services major Wipro has granted 28,162 restricted stock units (RSU) under its ADS Restricted Stock Unit Plan 2004 to a select and an undisclosed number of employees, as per exchange filings at BSE.

The grant is effective from July 12, 2021.  

“These shall vest as per the vesting schedule approved by the Board Governance, Nomination and Compensation Committee of the Board and can be exercised over the exercise period as approved by the Committee,” Wipro in the disclosure said.  

In late June, the company had granted 80,247 units under the same plan and announced an 80% salary hike for a part of its workforce in September, the second such hike in a year for its employees.  

In the 2021 fiscal, Wipro spent about Rs 33,237 crore or $4.54 billion towards overall employee compensation, an increase by 1.8% from the year earlier.  

“We will certainly evolve into what's the right model for work going forward, and in the end, it will likely be a hybrid model of people coming into work some of the time and working from home some of the time,” Rishad Premji, while speaking to shareholders at Wipro’s 75th annual general meeting on Wednesday, said.

Wipro Ventures, the investment arm of Wipro, has invested into 25 companies and startups with a combined portfolio of around $250 million, he said.    

Wipro is expected to announce its June 2021 quarterly results on July 15.