BIC_Registration_Document_2017
FINANCIAL STATEMENTS Consolidated financial statements
BREAKDOWN BY PLAN
Plan no. 12
Plan no. 13
Annual Shareholders’ Meeting date
May 21, 2008 Dec. 15, 2009
May 12, 2010 Dec. 16, 2010
Board of Directors’ Meeting date
Number of beneficiaries
602
643
Number of subscription options
360,000
382,950
Date from which options may be exercised
Dec. 16, 2012 Dec. 14, 2017
Dec. 17, 2013 Dec. 15, 2018
Option expiry date
Exercise price (in euros) (a)
47.99
63.71
Number of options exercised as of December 31, 2017
318,650
261,350 42,850 78,750
Number of void options as of December 31, 2017
41,350
Number of remaining options as of December 31, 2017
-
No discount on the exercise price. (a)
Plans no. 12 expired on December 14, 2017.
Assumptions for fair value calculation of stock options plans according to binomial model
Plan no. 12
Plan no. 13
Expected volatility
26.00%
26.00%
Risk-free rate
2.95% 2.75%
3.31%
Expected dividend yield Expected life in years (a)
2.9%
6.36 & 5.94
6.32 & 5.87
The first figure applies to French tax residents, the second figure to foreign tax residents. (a)
Free share allocations 23-2
For plans nos. 6 to 12, shares are only granted by SOCIÉTÉ BIC. For French tax resident beneficiaries, shares are delivered at the definitive grant date. For foreign tax resident beneficiaries, shares are delivered at the conclusion of a three-year period following the definitive grant date. For plans nos. 6 and 7, as compensation for dividends not received between the conclusion of the vesting period and the actual date of delivery, additional shares will be delivered at that time. From Plan no. 8, this compensation system by delivery of shares has been terminated and is replaced by a cash compensation system. From plan no. 13, shares still granted by SOCIÉTÉ BIC are delivered to the beneficiaries at the definitive grant date. The cash compensation system has been terminated.
with performance conditions From 2005, exercising the power placed at its disposal by successive Annual Shareholders’ Meetings, the Board of Directors resolved, upon the recommendation of the Compensation and Nomination Committee, to put in place a policy of free share awards subject to three-year performance conditions. The shares delivered by the current plans are existing shares. For plans nos. 1 to 5, shares are granted either by SOCIÉTÉ BIC or BIC CORPORATION. Shares granted by SOCIÉTÉ BIC are delivered to the beneficiaries at the definitive grant date. Beneficiaries must hold the shares during an additional period of three years. For U.S. tax reasons, the shares granted by BIC CORPORATION will only be delivered at the conclusion of a three-year period following the definitive grant date. As a compensation for dividends not received between the conclusion of the vesting period and the actual date of delivery, additional shares will be delivered at that time.
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BIC GROUP - 2017 REGISTRATION DOCUMENT
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