Persistent Systems extends ESOP plan to 80% of global staff

Pune: Persistent Systems Ltd. has extended its employee stock ownership plan (ESOPs) to a large section of its global team, the IT services firm said on Friday.

About 80% of employees are expected to be covered under this plan.

The ESOP plan will provide Persistent Systems’ employees the opportunity to participate in the value created for our shareholders as co-owners of the company, CEO Sandeep Kalra said. “We are confident that this gesture will further our employees’ commitment to the organisation's success and be value-accretive in the long term for our stakeholders.”


The ESOP plan will increase the company’s expenses by 70-80 basis points which it said will be offset by business growth over time. Shareholders approved the proposal in July.

"In our 30+ year history, Persistent's culture has been to support the career growth and aspirations of our team,” Anand Deshpande, founder, chairman and managing director of Persistent Systems, said. “This announcement reiterates our commitment to inclusivity and shared access to long-term financial benefits for our global Persistent team."