BusinessWipro Issues More than 74,500 Restricted Stock Units To...

Wipro Issues More than 74,500 Restricted Stock Units To Employees

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Wipro mentioned that the grant is effective from September 10, 2021.

India’s software services firm Wipro on Monday issued 74,689 shares to employees eligible under the Restricted Stock Unit Plan (RSUP) 2004. The IT major in a notification to exchanges said, “This is to inform you that the Company has granted 74,689 (Seventy Four Thousand Six Hundred and Eighty Nine) Restricted Stock units under Company’s ADS Restricted Stock Unit Plan 2004 to its employees.” The company mentioned that the grant is effective from September 10, 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,” it added.

Restricted stock units are usually given to employees through a vesting plan and distribution schedule. Vesting date of stock conveys that when employees get stock options, they generally can’t use it straight away. They have to stay with the company for a certain period of time to become eligible.

On Sunday, Wipro Chairman Rishad Premji had that said the company’s leadership will start returning to office from September 13 after 18 months of work from home (WFH) amid the Covid-19 pandemic.

“After 18 long months, our leaders @Wipro are coming back to the office starting tomorrow (twice a week). All fully vaccinated, all ready to go — safely and socially distanced,” Premji tweeted.

Mr Premji also shared a video about the Covid-related safety protocols which included temperature checks and QR code scans at the office premises.

During Wipro’s 75th annual general meeting (AGM) in July, he had said about 55 per cent of its employees in India have been vaccinated.

Currently, the company has around two lakh employees.

Meanwhile, shares of Wipro on Monday settled 1.30 per cent higher at Rs 670.80 on the BSE index.

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