How Esop at the Exit to the management affects the stake % and Exit valuation of the sponsor

Let's say the PE sponsor enter with 51% stake and the rest is held by the promoters. Let's say PE sponsor tell to the management of the company that if it achieves more than 30% IRR at the Exit, PE sponsor will give out 2-3% stake to the promoter as ESOP. How will this affect the exit stake % and valuation? How should I model it out?

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