BIC_Registration_Document_2017
FINANCIAL STATEMENTS Consolidated financial statements
Estimated fair value of shares granted and impact on the income statement
Plans’ unit fair value (in euros)
Expense/(income) booked in income statement (in thousand euros)
Free share grant date
Main grant
Secondary grant
Dec. 31, 2016
Dec. 31, 2017
May 19, 2005 Dec. 14, 2005 Dec. 13, 2006 Dec. 11, 2007 Feb. 10, 2009 Feb. 16, 2010 Feb. 15, 2011 Feb. 14, 2012 Feb. 12, 2013 Feb. 11, 2014 Feb. 10, 2015 May 18, 2016 Feb. 10, 2017
40.51 48.09 50.67 44.99 36.10 47.17 58.83 64.81 87.99 77.82
38.00 45.10 46.77 40.71 32.34
- - - -
- - - - - - - - -
1
N/A N/A N/A N/A N/A N/A N/A N/A
- -
(15) 491
3,515 6,000 3,399
236 735
114.61 113.52 109.05
2,215 3,069 6,255
-
TOTAL
13,391
The fair value of the free shares is the share price at the grant date discounted by the present value of potential future dividends.
For plans nos. F1, F2, F3, F4, F5 and F6 the shares are delivered by SOCIÉTÉ BIC at the definitive grant date, whether the beneficiaries are French or foreign country tax residents. French tax residents must hold the shares for an additional period of two years for Plans F1 to F4. From Plan F5, this holding period has been eliminated. These plans provide for the allocation of existing shares.
Free share allocations without 23-3 performance conditions From 2012, as recommended by the Compensation and Nomination Committee, the Board of Directors decided to set up a policy of free share grants without performance conditions, to replace the stock option programs rewarding staff selected by Management and key contributors during the year.
Plan no. F1 Plan no. F2 Plan no. F3 Plan no. F4 Plan no. F5 Plan no. F6
Annual Shareholders’ Meeting date
May 12, 2010 May 12, 2010 May 15, 2013 May 15, 2013 May 18, 2016 May 18, 2016 Feb. 14, 2012 Feb. 12, 2013 Feb. 11, 2014 Feb. 10, 2015 May 18, 2016 Feb. 10, 2017
Board of Directors’ Meeting date
Number of beneficiaries
223
233
243
258
258
271
Number of free shares granted
20,050
19,950
19,700
21,700
20,750
17,100
Definitive grant date
Feb. 14, 2016 Feb. 12, 2017 Feb. 11, 2018 Feb. 10, 2019 May 18, 2020 Mar. 31, 2020
Number of free share grants definitively acquired at December 31, 2017 Total number of void free share grants at December 31, 2017 (a)
16,600
16,250
-
-
-
-
3,450
3,700
3,150
2,700
1,750
50
Total number of free share grants still vesting at December 31, 2017
-
-
16,550
19,000
19,000
17,050
These free share grants are void due to beneficiaries leaving the Company. (a)
212
BIC GROUP - 2017 REGISTRATION DOCUMENT
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