Syngene International Limited has informed the Exchange regarding 'Grant of Performance Share Units under Syngene Long-Term Incentive Performance Share Plan 2023 ( Plan )'.
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Syngene International has granted 2,91,379 Performance Share Units (PSUs) to eligible employees on May 1, 2025, under its Long-Term Incentive Performance Share Plan 2023. The grant was approved by the Nomination & Remuneration Committee and complies with SEBI's SBEBSE Regulations 2021. The units follow a cliff vesting structure where 100% of the award vests only at the end of a 3-year performance period. Each PSU converts into 1 equity share at an exercise price of Rs. 10, and employees have 5 years from the vesting date to exercise.
This is a routine employee incentive grant with marginal equity dilution. The cliff vesting tied to a 3-year performance period aligns employee rewards with long-term shareholder value creation, which is a positive governance signal for investors.