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 during a notification to exchanges said, “This is to tell you that the corporate has granted 74,689 (Seventy Four Thousand 600 and Eighty Nine) Restricted Stock units under Company’s ADS Restricted Stock Unit Plan 2004 to its employees.” the corporate 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 may 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 typically can’t use it immediately . they need to remain with the corporate for a particular period of your 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 labor from home (WFH) amid the Covid-19 pandemic.

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

Mr Premji also shared a video about the Covid-related safety protocols including 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 are vaccinated.

Currently, the corporate has around two lakh employees.

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