New Jersey-based IT company Cognizant on Wednesday said that ‘certain executive officers’ will be paid 100 per cent performance-linked stock options if the company reaches $8.15 billion in fiscal 2013.
“On December 3, 2012, the Compensation Committee of the Company, after thorough evaluation, granted the following awards of performance units (“Performance Units”) to certain executive officers,” Cognizant said in a filing to US Securities and Exchange Commission.
The regulatory filing also said that 200 per cent of the stock options would be awarded to the executives if the company realises $9.15 billion in fiscal 2013. However, if the company records $8.22 billion, then no such award would be given.
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