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Wipro allotted Company shares to employees following a salary increase

-By ArdorComm News Network

Information and technology company Wipro disclosed through an exchange filing on May 17 that it had granted eligible employees stock options for roughly 3,98,733 shares.

In accordance with the ADS Restricted Stock Unit Plan of 2004 and the Restricted Stock Unit Plan of 2007, 3,96,893 shares were distributed.

In order to recognise employees’ accomplishments and increase their ownership, Wipro’s rival software giant Infosys previously distributed more than 5.11 lakh equity shares to its major contributors. Additionally, the company gave promotions and bonuses to all bands of employees throughout the last six months.

The tech giant also increased variable pay to 80.25% in the fourth quarter and to 87% in the third and 100% in the second. The tech company also updated its portal and included new incentives, rewards, and R&R programmes to better handle actual on-the-ground activities and to offer help to the employees.

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