Groupe Renault - 2019 Universal Registration Document

04

CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS

Stock-option and performance share plans and other share-based payments 18 – G – The Board of Directors periodically awards performance shares to Group executives and managers, with prices and exercise periods specific to each plan. Until 2012, it also periodically granted stock-options, each with their own vesting and required holding periods. All plans include performance conditions which determine the number of options or performance shares granted to beneficiaries. Loss of the benefit of stock-options or performance shares follows the applicable regulations: all options and rights are forfeited in the event of resignation or termination and a decision is made for each individual case when an employee leaves at the Company’s instigation.

New performance share plans were introduced in 2019, concerning 1,462 thousand shares with initial total value of €50 million. The vesting period for rights to shares is 3 years, with no minimum holding period. Share-based payments have been valued by the methods described in the accounting policies (note 2-R). The main details are as follows:

Expense for 2019 (€ million)

Expense for 2018 (€ million)

Share price at grant date (€)

Exercise price (€)

Dividend per share (€) 0.30 – 1.16 1.19 – 1.72 1.57 – 2.19 1.90 – 2.22 1.90 – 2.22 2.40 – 2.88 2.40 – 2.88 2.40 – 2.88 3.15 – 3.34 3.15 – 3.34 3.55 – 4.25 3.55 – 4.25 3.55 – 3.50

Initial value (thousands of €)

Unit fair value

Interest rate

Duration of option 4-8 years 4-8 years 4-8 years 3-5 years 4 years 3-4 years 4 years 3-4 years 4 years 3-4 years 4 years 4 years

Plan

Volatility

Plan 18 Plan 19 Plan 20

3,422 1,608 2,708

9.31 5.36 6.87

- - -

- - -

36.70 27.50 40.39 78.75 76.58 80.25 76.16 76.99 82.79 90.64 88.93 54.99

37.28% 2.28% 38.80 42.24% 1.99% 26.87 35% 0.71% 37.43

51,509 19,138 53,728 19,929 53,646 22,167 63,533 23,096 49,618 5,348

66.51 65.19 66.38 65.72 65.34 66.18 66.16 73.37 69.73 42.50

- 5

(10) (7) (18) (5) (18) (6) (19) (5) (1)

N/A N/A N/A N/A N/A N/A N/A N/A N/A

(0.10)% (0.03)% (0.48)% (0.48)% (0.56)% (0.57)% (0.57)% (0.57)%

N/A N/A N/A N/A N/A N/A N/A N/A N/A

Plan 22*

(20) (7)

Plan 23*

Plan 23 bis

3

N/A (0.48)% N/A

(31) (4) (23) (2) (10) (89)

Plan 24*

Plan 25* Plan 26

-

-

3 years

TOTAL (89) For these plans, performance shares were awarded at different dates within the stated period. The figures also include shares awarded as part of the variable remuneration * for the post of Chairman and CEO until January 23, 2019. The information reported may correspond to weighted averages based on quantities awarded per grant date. G1 Changes in the number of stock-options and share rights held by personnel and other share-based payments Stock-options Share rights

Weighted average exercise price (€)

Weighted average share price at grant and exercise dates (€)

Quantity

Quantity 4,714,171 1,462,030

Options outstanding and rights not yet vested at January 1, 2019

248,774

36

- -

Granted

-

-

Options exercised or vested rights

(95,787)  (1) (50,000)  (1)

35 36 37

49  (2)

(1,214,438)  (3) (618,434)  (4)

Options and rights expired and other adjustments

- -

Options outstanding and rights not yet vested at December 31, 2019

102,987

4,343,329

Stock-options exercised or expired in 2019 were granted under plans 18 and 19 in 2011 and plan 20 in 2012. (1) Price at which the shares were acquired by the Group to cover future options. (2) Performance shares vested were mainly awarded under plan 22 for non-residents in 2015 and plan 23 for residents in 2016. (3) Rights expired notably include 455,658 share rights of the resigning Chairman and Chief Executive Officer. (4)

Stock-options G2 For plans current in 2019, options attributed vest after a period of 4 four years the exercise period then covers the following four years:

Options outstanding at December 31, 2019

Plan

Type of plan

Grant date Exercise price (€)

Exercise period

Plan 18 Plan 19 Plan 20 TOTAL

Stock purchase options Stock purchase options Stock purchase options

April 29, 2011

38.80 26.87 37.43

- -

April 30, 2015 – April 28, 2019

December 8, 2011 December 13, 2012

December 9, 2015 – December 7, 2019

102,987 December 13, 2016 – December 12, 2020

102,987

386 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2019

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