2021 Universal Registration Document
CORPORATE GOVERNANCE
Corporate Officer remuneration
AMOUNT OF THE ACTUAL VARIABLE REMUNERATIONOF GONZALVE BICH FOR 2021
Gonzalve Bich
% cible 125 %
2021 Bonus Targets
Actual 2021 to be paid as a % of the fixed compensation
Payout level (Achievement x weight)
Minimum 2020 Actuals
Weight of criteria
Achievement level
Criteria
Target
Maximum
+6.5% increase at constant currencies +11.8% increase at constant currencies
+ 10.4% increase at constant currencies +23.1% increase at constant currencies
Group Net Sales
25 % 1,628 m€
150 %
37.5%
46.88 %
Group Adjusted Ebit
25 % 229.1 m€
150 %
37,5 %
46.88 %
Group Cash Conversion Cycle
20 % 199 days
192 days
185 days
0 %
0 %
0 %
Personal objectives
30 %
15,0 %
37,5 % 56,25 %
100 %
30 %
37,5 %
TOTAL
100 %
105 %
131.25 %
targets, but progress still needs to be made on the reduction of the share of non-virgin petroleum plastic in our products. The Horizon plan is on or above target on both Net Sales and aBIT margin, and Free CashFlow was above the commitment requested from the team. Based on the recommendation of the Nomination Committee, and as approved by the Board of Directors on February 15, 2022, the personal objectives will be paid at 100% of target, resulting in a payout of 1,010,625 US dollars.
For 2021, the personal objectives represent 30% of the target variable remuneration and a maximum of 56.25% of the fixed remuneration. As disclosed previously, the individual objectives for the Chief Executive Officer were set around several qualitative elements, considered to be of equal importance. These objectives focused on, but were not limited to, the implementation of the Horizon strategy, growth initiatives and ESG Criteria. From an ESG perspective, a 3-point progress in the % of women among the director population was registered, with the 30% of these positions now being held by women. The level of reusable, recyclable or compostable consumer packaging progressed beyond
Individual remuneration 4.2.2.3 Total remuneration and fringe benefits awarded for FYs 2020 and 2021 by SOCIÉTÉ BIC and by the companies it controls (1) to members of the Management bodies of SOCIÉTÉ BIC in respect of their duties within the Group amounted to:
TABLE A – SUMMARY OF REMUNERATION, OPTIONS AND SHARES AWARDED TO EACH CORPORATE OFFICER
(Table 1 following the format in French Financial Markets Authority Position-Recommendation No. 2009-16)
Pierre Vareille Chair (non-executive) January 1 – May 19, 2021
FY 2021 (in euros)
FY 2020 (in euros )
Remuneration due in respect of the year (detailed in table B)
300,000
125,000
Amount of multi-year variable remuneration awarded during the year
-
-
Amount of stock options awarded during the year (detailed in table D)
-
-
Amount of performance shares awarded during the year (detailed in table G)
-
-
TOTAL
300,000
125,000
Within the meaning of Article L. 233-16 of the French Commercial Code. (1)
177
• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •
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