File Pic: Infosys CEO Vishal Sikka
Infosys, India’s second largest outsourcer, on Wednesday revealed the compensation details of its top guns in a filing with the US Securities and Exchange Commission, the equivalent of India’s market regulator Sebi.
According to the filing, Infosys Chief Operating Officer UB Pravin Rao was the highest-paid Infoscian during 2014-15, with a total compensation of $970,646 or Rs 5.82 crore (at 60 rupees per US dollar). Mr Rao’s compensation included a base salary of $109,583, bonus and incentive of $616,509 and annual commission of $244,554.
Infosys Chief Financial Officer Rajiv Bansal emerged as the second highest-paid executive during 2014-15, with a total compensation of $748,247 or Rs 4.5 crore. Mr Bansal took home a base salary of $124,567, bonus and incentives worth $450,980 and commissions worth $172,700.
Mr Rao and Mr Bansal were entitled for $20,056 and $16,008 in long term benefits for the year.
Infosys CEO Vishal Sikka, the first non-founder head of the company, led in terms of base salary, earning $716,539 or Rs 4.3 crore during the year. Mr Sikka, however, did not receive any bonus or incentive and commission during the last fiscal year.
Mr Sikka was appointed as Infosys Director on June 14, 2014 and elevated to managing director and chief executive officer effective August 1, 2014.
He also got 27,067 restricted stock units or RSUs, which is equivalent to 54,134 RSUs after adjusting for the bonus issue made in December 2014. The RSUs will vest over a period of four years, Infosys said in a statement. The stock units are worth over Rs 10 crore according to current market price (around Rs 2,050) of Infosys shares.
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