An Indian multinational corporation that provides information technology, consultant, and business process services, Wipro Ltd has allotted 80,580 equity shares as ESOP.
As per the regulatory filings announced by the company, Wipro has allotted 80,580 equity shares to employees under the stock option.
The company has allotted 49,652 Restricted Stock units under Company’s Restricted Stock Unit Plan 2007 and 30,928 Restricted Stock units under Company’s ADS Restricted Stock Unit Plan 2004, to its identified employee.
The allotment was approved by the Nomination and Remuneration Committee of the Board and can be exercised over the exercise period as approved by the Committee.
An employee stock ownership plan (ESOP) is an employee benefit plan that gives employees an ownership interest in the company in the form of shares of stock. An ESOP grants company stock to employees, often based on the duration of their employment.
