Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 293

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 293
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 administration and implementation of the LTIP.

Share based incentive plan - equity incentive program

Under the LTIP, the Company has share based incentive plans of which Performance Restricted Units (“ PSUs”) and are granted to eligible participants and subject to achieving vesting conditions, are convertible into Class A common shares.

PSU’s

The vesting conditions can be divided into two groups, time vesting conditions and market performance conditions.

The vesting period (time vesting conditions) is divided into three tranches as follows:

• third anniversary of the grant date, upon which one third (1/3) of the PSUs will become time vested.

• fourth anniversary of the grant date, upon which one third (1/3) of the PSUs will become time vested.

• fifth anniversary of the grant date, upon which one third (1/3) of the PSUs will become time vested.

As a market performance condition, the final number of Class A common shares delivered to the participants is also dependent on the Total Shareholder Return (“ TSR”), including share price growth and dividends in comparison to a peer group. If TSR in comparison to the share price at the beginning of the grant is equal to or exceeds at least 8 rd, 4 th and 5th year grant anniversary, the PSUs are delivered to the participant. In addition to that, if the TSR is equal or above the TSR of a determined peer group at the end of the last vesting period, each participant shall be entitled to receive an additional number of PSUs (“boost grant”) equal to twenty per cent ( 20

If an eligible participant ceases to be employed by the Company, within the vesting period, the rights will be forfeited, except in limited circumstances that are approved on a case-by-case basis by the Committee.

The cost of the share-based incentive plan is measured using the fair value at the grant date. The cost is expensed together with a corresponding increase in equity over the service period.

The total amount to be expensed is determined by reference to the fair value of the shares granted at the grant date, which is also based on:

• TSR; and

• The impact of any time-related vesting conditions (i. e. remaining an employee of the entity over a specified time).

The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each period, the entity revises its estimates of the number of shares that