Econocom - 2019 Universal registration document

05 management report

corporate governance statement

Meeting of 17 ژ May 2016. The different awards made as part of this plan were approved by the Board of Directors meetings dated 19 ژ May 2016, 26 ژ February 2018 and 27 ژ December 2018. The vesting of free shares by the beneficiary will result in delivery of existing shares. The stock options granted in 2017 are part of a stock option plan approved by the Board of Directors on 22 ژ June 2017. If exercised, these options will result in the issuance of new shares. At 31 ژ December 2019, unexercised free shares and options entitling their holders to a total of 5,462,840 ژ Econocom group shares, including 4,172,840 ژ shares yet to be issued and 1,290,000 ژ existing shares. They represented 2.23% of the number of shares outstanding at the end of the year. Lastly, of the total number of shares corresponding to stock options and free shares granted and not yet exercised, 11.12% were subject to the achievement of quantitative and/or qualitative, and individual and/or collective performance conditions. The exercise of all these options would result in an equity increase of €14.6 ژ million.

These plans cover Econocom group shares listed on the Euronext Brussels stock exchange. They are granted with a view to involving employees, managers and executives more closely in the Group’s operations and business development. The granting of some of the stock options and free shares, comprising between 50% and 100% of the stock options and shares allocated, is contingent on their beneficiaries achieving individual, collective, internal and/or external performance goals. The exercise price is set in accordance with current legislation. The options may not be transferred and Econocom group does not hedge its exposure to decreases in the share price. The options awarded in 2013 were and will be covered by existing shares. The stock options granted in 2014, 2015 and 2016 are part of a stock option plan approved by the Board of Directors on 17 ژ December 2014. If exercised, these options will result in the issuance of new shares. The free share plan issued in 2016 was approved by the General Shareholders'

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2019 annual report