Sai Life Sciences Limited has informed the Exchange regarding 'Ratification of ESOP Schemes and extension of its benefits to the employees of subsidiary Companies'.
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Sai Life Sciences announced the results of its postal ballot (deemed passed on 16 June 2025) covering six items. Members approved the ratification of the ESOP Scheme 2008 (covering up to 60,99,820 equity shares) and the Management ESOP Scheme 2018 (covering up to 79,45,490 equity shares), along with extending both schemes' benefits to employees of subsidiary and group companies. As of the date of disclosure, 64,82,180 options had been exercised under the 2008 scheme and 12,23,930 under the 2018 scheme, with 3,68,500 and 12,96,490 options respectively still vested but unexercised. Members also confirmed the appointment of Dr. Dinesh V Patel as Independent Director (5-year term from 24 March 2025 to 23 March 2030), who brings 38 years of pharma and biotech experience and currently serves as President & CEO of Protagonist Therapeutics. Additionally, Mr. Sivaramakrishnan Chittor, the existing CFO, was appointed as Whole-Time Director & CFO for a 5-year term effective 16 June 2025.
The ESOP ratifications and extensions are administrative in nature and unlikely to materially affect existing shareholders, though they enable broader employee participation in stock-based rewards across group entities. The board appointments bring a globally experienced pharma R&D leader (Dr. Patel) and consolidate the CFO's position (Mr. Chittor) into a Whole-Time Director role, which may be viewed positively for governance and strategic continuity.