BIC - 2020 Universal Registration Document
CORPORATE GOVERNANCE
Corporate Officers’ remuneration
TABLE I – HISTORY OF PERFORMANCE SHARE PLAN ALLOCATIONS
(Table 9 following the format of French Financial Markets Authority Position-Recommendation No. 2009-16)
Plan No. 10 Plan No. 11 Plan No. 12 Plan No. 13 Plan No. 14 Plan No. 15 Plan No. 16
Annual Shareholders’ Meeting date
May 15, 2013 May 15, 2013 May 18, 2016 May 18, 2016 May 16, 2018 May 16, 2018 May 16, 2018
February 11, 2014
February 10, 2015
May 18, 2016
February 10, 2017
May 16, 2018
February 12, 2019
February 11, 2020
Board of Directors’ Meeting date
Grant
M
M
M
M
M
M
M
Number of free shares granted
159,660
176,740
159,680
155,790
170,720
162,025
234,118
Of which. shares granted to the • Corporate Officers (% of BIC shares as of December 31, 2020)
3,250
4,500 (0.01%) 8,000 (0.02%) 3,250 (0.01%)
5,000 (0.01%) 8,000 (0.02%) 3,250 (0.01%) May 18, 2019
8,000 (0,02%) 8,000 (0.02%) 3,250 (0.01%)
15,000 (0,03%) 8,000 (0.02%) 3,250 (0.01%) May 16, 2021 May 16, 2021
17,000 (0.04%) 8,000 (0.02%) 3,250 (0.01%)
24,781 (0.05%) 8,017 (0.02%)
Gonzalve Bich •
8,000 (0.02%) 3,250 (0.01%)
James DiPietro •
Marie-Aimée Bich-Dufour •
-
March 11, 2017 March 11, 2020
March 10, 2018 March 10, 2021
March 31, 2020 March 31, 2020
March 31, 2022 March 31, 2022
March 31, 2023 March 31, 2023
End of the Acquisition Period
March 31, 2022
End of the Holding Period
1) Increase in net sales 2) Net cash from operating activities. As a percentage of net sales
Performance conditions
Total number of shares definitively acquired as of December 31, 2020 Total number of void or lapsed shares as of December 31, 2020 (a) TOTAL NUMBER OF PERFORMANCE SHARES OUTSTANDING AS OF DECEMBER 31, 2020
139,542
105,096
64,365
-
90
-
-
20,118
71,884
94,025
155,790
114,428
102,499
26,942
-
-
-
-
56,202
59,526
207,176
The performance share grants are void due to the beneficiary leaving the company or to all performance conditions not being achieved. (a) Main. M = Secondary. S =
Share allocated with or without performance conditions Since 2005, exercising the power granted to it by the Shareholders’ Meeting, the Board of Directors has resolved, upon the recommendation of the Remuneration Committee, to put in place a policy of three-year performance-based share grants. Since 2012, some 500 executives who historically received stock options based on their position in the Company (eligible executives) have received three-year performance-based share grants. Regarding the plans in force, performance is assessed over a three-year period based on the achievement of two objectives: net sales evolution; ● net cash flow from operations and change in inventory, as a ● percentage of net sales.
In 2020, 234,118 performance shares were granted to 501 beneficiaries. In 2019, 162,025 performance shares were granted to 496 beneficiaries. In parallel, to reward staff selected by Management and key contributors of the year, the Board of Directors decided, on the recommendation of the Remuneration Committee, to award free share grants without performance conditions. The vesting period is three years and one month from grant for the 2019 plans. In 2020, 30,613 shares were granted without performance conditions to 242 beneficiaries In 2019, 17,550 shares were granted without performance conditions to 239 beneficiaries. The total number of shares is reported in Note 23 to the consolidated financial statements.
192
• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •
Made with FlippingBook Annual report