Parekh Salil S. 4

What Happened

• Salil S. Parekh, CEO & Managing Director of Infosys Ltd, exercised stock-derived awards on May 2, 2026, acquiring 243,894 shares (230,621 + 13,273) at an exercise price of INR 5.00 per share, for a total exercise cost of INR 1,219,470 (reported values: INR 1,153,105 and INR 66,365).
• A portion of shares was disposed: on May 8, 2026 he sold 95,800 shares in an open-market transaction at INR 1,177.86 per share, generating proceeds of INR 112,838,988.
• The Form 4 shows derivative entries with zero reported proceeds for 230,621 and 13,273 shares—these reflect conversion/settlement of derivative awards upon exercise.

Key Details

• Transaction dates and prices:
  • 2026-05-02: Exercised (code M) 230,621 shares @ INR 5.00 (INR 1,153,105) and 13,273 shares @ INR 5.00 (INR 66,365). (F1: prices reported in INR.)
  • 2026-05-08: Open-market sale (code S) of 95,800 shares @ INR 1,177.86, proceeds INR 112,838,988.
  • Derivative dispositions on 2026-05-02 show 230,621 and 13,273 shares disposed @ INR 0.00 (reflecting conversion/settlement).
• Footnotes:
  • F1: Prices are in Indian Rupees (INR).
  • F2: Includes previously reported Equity Share Restricted Stock Units.
  • F3: Disposed pursuant to cashless exercise of vested units (sale tied to exercise/settlement).
• Shares owned after transaction: Not specified in the provided filing details — see the full Form 4 for post-transaction holdings.
• Filing timeliness: Form 4 was filed May 15, 2026 for transactions on May 2 and May 8; this filing date is more than two business days after the transactions and thus appears late relative to the Form 4 two-business-day rule.

Context

• These entries show an option/derivative exercise followed by an immediate sale (cashless exercise): Parekh exercised vested units and sold a portion to cover exercise costs/tax obligations, per the filing footnote.
• Such exercises plus partial sales are common for executives when awards vest; the sale does not necessarily indicate a change in view on the company’s long-term prospects.