DISCLOSURE UNDER SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 FOR THE YEAR ENDED MARCH 31, 2021
Sl. | Wipro Restricted Stock | ADS Restricted Stock Unit | Wipro Restricted Stock Unit | Wipro Equity Reward Trust | ||||
Description | Employee Stock Purchase Plan, | |||||||
No. | Unit Plan 2005 | Plan 2004 | Plan 2007 | |||||
2013 | ||||||||
Date | of | |||||||
1 | Shareholder's | July 21, 2005 | June 11, 2004 | July 18, 2007 | May 30, 2013 | |||
Approval | ||||||||
Total Number | of | 59,797,979 ADS representing | ||||||
2 | Options | Approved | 59,797,979 | 59,797,979 underlying equity | 49,831,651 | 39,546,197 | ||
Under the plan* | shares | |||||||
As determined by Board | As determined by Board | As determined by Board | As determined by Board | |||||
3 | Vesting | Governance, Nomination | ||||||
Governance, Nomination and | Governance, Nomination and | Governance, Nomination and | ||||||
Requirements | and Compensation | |||||||
Compensation Committee | Compensation Committee | Compensation Committee | ||||||
Committee | ||||||||
As determined by Board | As determined by Board | As determined by Board | As determined by Board | |||||
4 | Maximum Term | of | Governance, Nomination | |||||
Governance, Nomination and | Governance, Nomination and | Governance, Nomination and | ||||||
Options Granted | and Compensation | |||||||
Compensation Committee | Compensation Committee | Compensation Committee | ||||||
Committee | ||||||||
Source | of | Shares | ||||||
5 | (Primary, | Primary | Primary | Primary | Primary | |||
Secondary | or | |||||||
Combination) | ||||||||
Number of Options | ||||||||
6 | outstanding | at | the | - | 7,886,540 | 15,614,190 | - | |
beginning | of | the | ||||||
period (2020-21) | ||||||||
Number of Options/ | ||||||||
7 | RSUs | granted | - | 5,047,648 | 6,320,790 | - | ||
during the year * | ||||||||
8 | Pricing formula | Face value of the share | Face value of the share | Face value of the share | Face value of the share | |||
9 | Number of Options | |||||||
Vested | during | the | - | 2,522,875 | 4,532,780 | - | ||
year | ||||||||
10 | Number of Options | |||||||
exercised | during | - | 3,269,832 | 3,356,199 | - | |||
the year | ||||||||
DISCLOSURE UNDER SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 FOR THE YEAR ENDED MARCH 31, 2021
Sl. | Description | Wipro Restricted Stock Unit | ADS Restricted Stock Unit | Wipro Restricted Stock Unit | Wipro Equity Reward Trust | |||||
No. | Plan 2005 | Plan 2004 | Plan 2007 | Employee Stock Purchase | ||||||
Plan, 2013 | ||||||||||
Number | of | shares | ||||||||
arising | as a result | |||||||||
11 | of | exercise | of | - | - | - | - | |||
options | (as | of | ||||||||
March 31, 2021) | ||||||||||
a) Through transfer | ||||||||||
of | shares | from | ||||||||
Wipro | Equity | - | - | 3,344,866 | - | |||||
Reward | Trust, | |||||||||
ESOP Trust | ||||||||||
b)Through | - | 3,269,832 | 11,333 | - | ||||||
allotment of shares | ||||||||||
12 | Number of Options | |||||||||
Lapsed/Forfeited | - | 2,248,895 | 2,681,333 | - | ||||||
during the year ** | ||||||||||
13 | Variation | in | terms | |||||||
of | options | up to | - | - | - | - | ||||
March 31, 2021 | ||||||||||
14 | Money realized by | |||||||||
exercise of options | ||||||||||
during the year(₹) - | - | 6,539,664 | 22,666 | - | ||||||
for | allotment | of | ||||||||
shares | at | 11 | (b) | |||||||
above | ||||||||||
15 | Number of Options | |||||||||
outstanding | at | the | - | 7,415,461 | 15,897,448 | - | ||||
end | of | the | year | |||||||
(2020-21) | ||||||||||
16 | Number of Options | - | 465,603 | 2,679,538 | - | |||||
Exercisable | at | the | ||||||||
end of the year | ||||||||||
Loan Repaid by the | Not applicable | Not applicable | Not applicable | Not applicable | ||||||
17 | Trust | during | the | |||||||
year from exercise | ||||||||||
price received | ||||||||||
DISCLOSURE UNDER SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 FOR THE YEAR ENDED MARCH 31, 2021
Sl. | Description | Wipro Restricted Stock Unit | ADS Restricted Stock Unit | Wipro Restricted Stock Unit | Wipro Equity Reward Trust | |||
No. | Plan 2005 | Plan 2004 | Plan 2007 | Employee Stock Purchase | ||||
Plan, 2013 | ||||||||
Employee Wise details of Options granted during the year: | ||||||||
i. Senior managerial personnel | ||||||||
Thierry | Delaporte, | |||||||
Chief | Executive | |||||||
Officer | - | 1,500,000*** | - | - | ||||
and | Managing | |||||||
Director | ||||||||
Jatin P Dalal, Chief | - | - | 200,000 | - | ||||
Financial Officer | ||||||||
ii. | Any | other | ||||||
Employee | who | |||||||
receives a grant in | ||||||||
any | one | year of | - | |||||
option | amounting | - | - | - | ||||
18 | to 5% or more of | |||||||
option granted | ||||||||
during that year |
- Identified
employees who
were granted options, during any one year, equal to or exceeding 1% of the
issued | capital | - | - | - | - | |||||
(excluding | ||||||||||
outstanding | ||||||||||
warrants | and | |||||||||
conversion) | of | the | ||||||||
company at the time | ||||||||||
of grant | ||||||||||
Diluted | Earnings | per | ||||||||
share | pursuant | to | Diluted Earnings | per share | ||||||
issue of shares | on | pursuant to issue of shares on | ||||||||
19 | exercise | of | options | ₹ 19.07 | - | 19 | exercise of options calculated in | |||
calculated | in | accordance | with | Accounting | ||||||
accordance | with | Standard | ||||||||
Accounting Standard | (AS) 20 | |||||||||
(AS) 20 |
DISCLOSURE UNDER SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 FOR THE YEAR ENDED MARCH 31, 2021
Sl. | Description | Wipro Restricted Stock | ADS Restricted Stock | Wipro Restricted Stock | Wipro Equity Reward Trust | |||||
No. | Unit Plan 2005 | Unit Plan 2004 | Unit Plan 2007 | Employee Stock Purchase | ||||||
Plan, 2013 | ||||||||||
20 | Method used to account | for ESOS - Intrinsic or fair value | ||||||||
Where | the | company | ||||||||
opts for | expensing of | |||||||||
the | options | using | the | |||||||
intrinsic | value | of | the | |||||||
options, the difference | ||||||||||
between the employee | ||||||||||
compensation | cost so | Since these options were | Since these options were | Since these options were | ||||||
computed | and | the | granted at a nominal | |||||||
employee | exercise price, intrinsic | granted at a nominal exercise | granted at a nominal exercise | |||||||
21 | compensation cost that | value on the date of | price, intrinsic value on the | price, intrinsic value on the | - | |||||
shall | have | been | grants approximates the | date of grants approximates | date of grants approximates | |||||
recognized | if | it | had | fair value of the options | the fair value of the options | the fair value of the options | ||||
used the fair value of | ||||||||||
the | options | shall | be | |||||||
disclosed. The impact | ||||||||||
of | this | difference | on | |||||||
profits and on EPS of | ||||||||||
the company. | ||||||||||
Weighted | average | |||||||||
exercise | prices | and | ||||||||
weighted average | fair | Exercise price ₹ 2/- per option. | Exercise price ₹ 2/- per | |||||||
values | of | options | Not applicable as there | The weighted average grant- | option. The weighted average | |||||
22 | separately for | options | date fair value of options | grant-date fair value of | ||||||
were no grants during the | - | |||||||||
whose exercise price | granted during the year ended | options granted during the | ||||||||
year under this plan | ||||||||||
either | equals | or | March 31, 2021 was ₹ 356.28 | year ended March 31, 2021 | ||||||
exceeds or is less than | /-. | was ₹ 353.58 /-. | ||||||||
the market prices of the | ||||||||||
stock. | ||||||||||
DISCLOSURE UNDER SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 FOR THE YEAR ENDED MARCH 31, 2021
Sl. | Wipro Restricted | ADS Restricted Stock Unit | Wipro Restricted Stock Unit | Wipro Equity Reward Trust | |||
Description | Employee Stock Purchase | ||||||
No. | Stock Unit Plan 2005 | Plan 2004 | Plan 2007 | ||||
Plan, 2013 | |||||||
23 | A description of method and significant assumptions used during the year to estimate the fair values of options, including the following | ||||||
information: | |||||||
(a) the | weighted- | ||||||
average values of share | |||||||
price, exercise | price, | ||||||
expected | volatility, | ||||||
expected | option | life, | |||||
expected dividends, the | |||||||
risk- free interest rate | |||||||
and any other inputs to | |||||||
the model; |
- the method used and the assumptions made to incorporate the
effects of expected early | Not Applicable | as | Since | these | options were | Since | these | options | were | |||
exercise; | granted at a nominal exercise | granted | at a | nominal exercise | ||||||||
there were no grants | ||||||||||||
(c) how | expected | price, intrinsic value on the | price, intrinsic value on the date | - | ||||||||
during the year under | ||||||||||||
volatility | was | date of | grants | approximates | of grants approximates | the fair | ||||||
this plan | ||||||||||||
determined, | including | the fair value of the options | value of the options | |||||||||
an explanation of the | ||||||||||||
extent | to | which | ||||||||||
expected | volatility was | |||||||||||
based | on | historical | ||||||||||
volatility; and |
- whether and how any other features of the option grant were incorporated into the measurement of fair value, such as a market condition.
Notes:-
- Includes RSUs that will vest based on performance parameters of the Company.
- As per the plan Options/RSUs lapse on termination of the Plan. If an Option/RSU expires or becomes un-exercisable without having been exercised in full, such Options shall become available for future grants under the Plan.
- The details of grants disclosed for Mr. Thierry Delaporte includes annual stock grants which will vest as per the vesting pattern approved by the Board Governance, Nomination and Compensation Committee (1,200,000 ADS restricted stock units, comprising of 300,000 ADS restricted stock units expiring in July 2024 and 900,000 ADS performance stock units expiring in June 2023 and one-time grant of 300,000 ADS restricted stock units expiring in July 2022), as per the terms approved by the Shareholders at the Annual General Meeting held in July 2020.
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Wipro Limited published this content on 19 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2021 08:34:03 UTC.