Hermès // 2021 Universal Registration Document
COMBINED GENERAL MEETING OF 20 APRIL 2022 EXPLANATORY STATEMENTS AND DRAFT RESOLUTIONS
Components of compensation submitted to the vote
Amount awarded in respect of financial year 2021 or accounting valuation
Amount paid during financial year 2021
Presentation
Gross annual variable
€2,700,742 of which 10% for achieving the CSR criterion
The gross annual variable compensation in 2022 of Mr Axel Dumas, awarded in respect of 2021, was determined by the Executive Management Board on 16 February 2022, in accordance with the compensation policy for the Executive Chairmen, and was subject to the deliberation of the Supervisory Board at its meeting of 17 February 2022. A portion of the variable compensation is submitted to a “CSR” criterion representing the Group’s firm and ongoing commitments to sustainable development. The CAG-CSR Committee evaluated the level of achievement of the CSR criterion applicable to 10% of the variable compensation of the Executive Chairmen at its meeting of 7 January 2022 and noted that the three indicators making up the criterion were fully achieved. The details of this assessment can be found in the 2021 universal registration document (chapter 3 “Corporate governance”, § 3.8.2.1.2). Consequently, the gross variable compensation for financial year 2021 has been calculated by applying the change in the Company’s consolidated net income before tax for financial year 2021 compared with that of 2020, i.e. an increase of 73.2%, to the variable compensation paid in 2021 in respect of financial year 2020. Payment of this compensation is subject to the approval of the General Meeting of 20 April 2022. To the extent that the Executive Chairmen receive neither multi-year variable compensation nor deferred variable compensation, only the following elements are subject to a vote: fixed compensation paid during financial year 2021; s variable compensation awarded in respect of financial year 2020, paid s during financial year 2021; variable compensation awarded in respect of financial year 2021 s whose payment in 2022 is contingent on approval by the shareholders at the General Meeting of 20 April 2022; benefits of all kinds. s The components of compensation presented below all comply with the compensation policy for the Executive Chairmen presented in the 2021 universal registration document (chapter 3 “Corporate governance”, § 3.8.1.1 and § 3.8.1.2). The other information referred to in Article L. 22-10-9, I. of the French Commercial Code ( Code de commerce ), which is also subject to the global ex-post vote, is described in the 2021 universal registration document (chapter 3 “Corporate governance”, § 3.8.1, § 3.8.2 and § 3.8.4). In the seventh resolution we ask that you approve this information for each of the Corporate Officers. The fixed compensation paid in 2021 to the company Émile Hermès SAS was determined by the Executive Management Board on 17 February 2021, in accordance with the compensation policy for the Executive Chairmen, and submitted to the Supervisory Board for approval at its meeting of 18 February 2021. Presentation
compensation for 2022 set by the Articles of Association (“statutory compensation”)
Components of compensation submitted to the vote
Amount awarded in respect of financial year 2021 or accounting valuation
Amount paid during financial year 2021
7 th and 9 th resolutions (global and individual ex-post votes): Émile Hermès SAS
Gross annual fixed compensation for 2021 (or “additional” compensation in the Articles of Association)
€551,850 (amount unchanged from that received in 2020 1 and 2019)
In accordance with the compensation policy for the Executive Chairmen presented in the 2021 universal registration document (chapter 3 “Corporate Governance”, § 3.8.1.1 and § 3.8.1.2), the gross annual fixed compensation of Émile Hermès SAS did not change in 2021. It should be noted that, in the context of the Covid-19 epidemic, Émile Hermès SAS waived the increase in its gross annual fixed compensation in 2020, and therefore (1) received the same amount of fixed compensation in 2020 as that received in 2019.
8
2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL
483
Made with FlippingBook flipbook maker