ArdorComm Media Group

ESOP

Capgemini Unveils its Tenth Employee Share Ownership Program

News on HR 16th Sept 2023 ArdorComm Media Group Capgemini Unveils its Tenth Employee Share Ownership Program

Capgemini is taking significant steps to enhance employee development and performance by introducing a fresh Employee Share Ownership Plan (ESOP). This initiative is open to nearly 97% of the company’s workforce and will be implemented through a capital increase reserved exclusively for Capgemini employees, with a maximum allocation of 3,200,000 shares. Employees will have the opportunity to acquire Capgemini shares through subscription plans, including leveraged and guaranteed options. These plans will not only allow them to safeguard their invested amount until the shares become accessible but also ensure a certain level of protection. Furthermore, individuals holding these shares will have voting rights, which may vary depending on the specific plan and circumstances. These shareholders may include participants in the Fonds Commun de Placement d’Entreprise (FCPE), employees with direct share ownership, and/or the financial institution overseeing the offer or its affiliated parties. This marks the tenth installment in Capgemini’s ESOP offerings, aimed at maintaining employee shareholding at approximately 8% of Capgemini SE’s share capital. The timeline for this program is as follows: it will be open for participation from September 15 to October 4, 2023 (inclusive), followed by a subscription/revocation period from November 13 to November 15, 2023 (inclusive). The pricing for the new shares will be determined on November 10, 2023, and the increase in share capital will be completed on December 19, 2023. The implementation of the leveraged guaranteed offering will involve hedging transactions conducted by the financial institution responsible for organizing the offer. For this tenth program, Crédit Agricole Corporate and Investment Bank will be handling these transactions, which may take place in the market or off-market and may include actions such as buying and/or selling shares, acquiring call options, or any other relevant transactions.

Wipro Grants 41,667 RSUs to Employees via ESOP, Empowering Workforce Ownership

News on HR 7th Sept 2023 ArdorComm Media Group Wipro Grants 41,667 RSUs to Employees via ESOP, Empowering Workforce Ownership

Wipro, in a recent official exchange filing, disclosed its issuance of 41,667 restricted stock units (RSUs) to its employees as part of its Employee Stock Ownership Plan (ESOP). These RSUs will be distributed to eligible employees according to a predetermined vesting schedule approved by the Nomination and Remuneration Committee of the Board. Over a specified period outlined in the schedule, employees will gradually gain ownership rights to these RSUs. This move not only serves as an incentive for employees but also aligns their interests with the company’s growth and success. The allocation of these RSUs became effective on September 5, 2023. An important feature of this ESOP is that employees have the flexibility to exercise these RSUs during a predefined exercise period. The committee has also given its approval for this exercise period, as mentioned in the official company filing. This allows employees to convert their RSUs into company shares at their discretion, taking advantage of favourable market conditions. On September 6, 2023, Wipro’s stock was trading at Rs 429 per share, reflecting a slight decrease of 0.66 percent. While the company has assured its employees of an impending pay raise, the official announcement of the same has been postponed until the third quarter, which spans from October to December, as opposed to the previous financial year’s announcement in September. Despite an 11.9 percent increase in profits reported in the first quarter, the company plans to continue hiring in specific areas, despite an 8,812 decrease in its overall headcount.