Millennium Post

Infosys CEO Sikka’s pay hiked 10-fold to `48.73 cr in FY16

Sikka, who was appointed to top job at India's second largest software exporter on June 14, 2014, earned Rs 4.56 crore in 2014-15, Infosys said in its annual report. His remuneration included Rs 5.96 crore of basic salary and Rs 33 lakh of retirement benefits.

 The remaining Rs 42.44 crore was in form of bonus/incentives. "During fiscal 2016, Sikka was granted RSU (Restricted Stock Units) valued at $2 million on the grant date. The RSUs will vest over a period of four years from the date of grant," it said, adding he was also granted 1.24 lakh stock options in 2015-16.

In 2014-15, the company had given him 1.08 lakh shares, of which he exercised rights for 10,824 units. U B Pravin Rao, Chief Operating Officer, saw a 52.6 per cent rise in remuneration to Rs 9.28 crore in 2015-16 and was not given any stock options. Rao's remuneration included Rs 0.89 crore of basic salary, Rs 2.55 crore of perquisites and allowances, Rs 16 lakh of retirement benefits and Rs 5.68 crore of bonus/ incentives.

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