Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 207

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 6
Chunk 207
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 vesting schedule of the LTIP. For further information, see note 28(d) to our audited consolidated financial statements included elsewhere in this annual report.

Annual Performance Share Grant

Besides the IPO grant, we have made four additional annual grants under the performance share plan, which provide for the vesting of performance shares based on both time and performance vesting. In 2022, we set a maximum aggregate grant of 101,408 Class A common shares and 3 participants resigned from Patria as of the date hereof, which required them to forfeit 19,007 shares. In 2023, we set a maximum aggregate grant of 357,132 Class A common shares and as the date hereof 4 participants have resigned from Patria and forfeited their right to receive 37,429 Class A common shares under the 2023 grant. In 2024, we set a maximum aggregate grant of 3,673,000 Class A common shares and 3 participants resigned from Patria as of the date hereof forfeiting a total of 55,247 Class A common shares under the 2024 grant. In 2025 we set a maximum of 2,353,655 Class A common shares under the 2025 grant and no participants have resigned from Patria as of the date of this annual report.

  Patria Investments Limited      135  

  Table of Contents  

New Matching Share Plan

On February 26, 2024, our board of directors approved a new matching share plan for certain participants, offering them the opportunity to convert up to 50% of their cash bonus into equity shares and to receive a matching component in the form of restricted stock units that vest over a five year period, with one third of the applicable grant vesting on each of the third, fourth and fifth anniversary of the date of grant, subject to continued employment through each vesting date. For this matching share plan, we set a maximum aggregate grant of 1,630,000 Class A common shares and 4 participants have resigned from Patria as of the date hereof, forfeiting a total of 62,084 Class A common shares from the 2024 grant. In 2025 we set a maximum of 2,248,510 Class A common shares and no participants have resigned from Patria as of the date of this annual report.

C. Board Practices

Foreign Private Issuer Status

Nasdaq listing rules include certain accommodations in the corporate governance requirements that allow foreign