Econocom - 2020 annual report

05 management report

corporate governance statement

Total compensation for 2020, including social costs

Three of the executive Directors, Executive Committee members and non-executive Directors with operational functions have a company car. Lastly, the compensation of the Chairmanof the Board of Directors is

in €

2,236,802 2,009,008

Fixed portion

Variable portion (1)

discussed insection 5.7.2.5. STOCK OPTIONS 5.7.3. AND FREE SHARES GRANTED

Pensions and other compensation, including benefits in kind (2)

1,285,660

Some of the executive Directors, Executive Committee members and non-executive Directors with operational functions benefit from stock option and/or performance share plans. The General Meeting of 19 May 2020 approved the terms of a free share plan including 2,200,000 shares. On 27 July 2020, the Board of Directors granted two Group Executives performance shares entitling them to a total of 1,600,000 Econocom group shares, the vesting of which will be spreadover three years. At 31 December 2020, the executive Directors, Executive Committee members and non-executive Directors held 702,250 stock options entitling them to 1,404,500 Econocomgroup shares (after the share split) at a total subscription price of €5.6 million, as well as 1,750,000 Econocom group performance shares.

1,146,860

Social costs (3)

-

Directors’ fees

Total 6,768,330 Of which €1,604 thousand yet to be paid in 2021. The (1) non-finalised variable portions were recorded on the assumption that 100% of targets were met. Of which €129 thousand yet to be paid in 2021. (2) Of which €87 thousand yet to be paid in 2021. (3) This information refers to compensation including social costs paid to executive DirectorsandExecutiveCommitteemembers in office in 2020, as well as compensationpaid to non-executive Directors with operational functions. Five of the managers with operational functions were compensated under their employment contract as employees of Econocomgroup’scompanies.Four indirectly received compensation through a company controlled by Econocom group, as a corporate officer of an Econocom group company and/or as a service provider. This lump-sum compensation is included in the summarytableabove.

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2020 annual report

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