Persistent Launches One of the Most Inclusive Employee Stock Option Plans in the Global IT Services Industry
Persistent Systems (BSE & NSE PERSISTENT), a global leader in digital engineering services, today announced the extension of its Stock Option Plan (ESOP) to much of its business base. ’employees around the world. Persistent employees have played a critical role in the company’s success, and ESOP will reward them for the resilience they have demonstrated over the past two years. About 80% of employees are expected to be covered by this plan.
Given the expected positive results of the wider participation and sense of belonging of employees, we believe that the ESOP expenses, which will be between 70 and 80 basis points, would be more than offset over time. The plan is in line with approvals received from shareholders in July 2021.
Sandeep Kalra, President and CEO and Executive Director, Persistent Systems “We recognize the hard work and dedication of our employees who have been the basis of our growth and our returns for our industry-leading shareholders over the course of of the last quarters. We are pleased to offer our global employees the opportunity to participate in this ESOP, thereby providing them with the opportunity to participate in the value created for our shareholders as co-owners of the Company. We are convinced that this gesture will strengthen our employees’ commitment to the success of the organization and bring long-term value to our various stakeholders.
Anand Deshpande, Founder, President and CEO of Persistent Systems provides long-term financial benefits for our Persistent Global team. “
Persistent Systems Limited shares last traded on BSE at Rs. 4,012.60 from the previous close of Rs. 3,810.20. The total number of shares traded during the day was 27,455 in more than 4,690 trades.
The share hit an intraday high of Rs. 4,065.00 and an intraday low of 382.00. The net turnover during the day was Rs. 109,864,015.00.
Persistent Systems Limited shares were last traded in NSE at Rs. 4,012.50 from the previous close of Rs. 3,811.85. The total number of shares traded during the day was 788,573 in more than 71,099 trades.
The stock hit an intraday high of Rs. 4,068.95 and an intraday low of 3821.00. The total value traded during the day was Rs. 3158127520.00.