LEGRAND_REGISTRATION_DOCUMENT_2017

First page Table of contents Previous page 322 Next page Last page

A

APPENDIX Appendix 1

The number of shares ultimately granted to beneficiaries is calculated as follows:

“External” financial performance criterion

Pay-out rate (1)

0%

100%

150%

2015 Plan:

2015 Plan:

2015 Plan:

4 points or less

8.3 points

10.5 points or more

Average gap in EBITDA margin in Legrand’s favor between Legrand and the MSCI average over a three-year period

2016 Plan:

2016 Plan:

2016 Plan:

3.5 points or less

7.8 points

10.0 points or more

2017 Plan:

2017 Plan:

2017 Plan:

3.1 points or less

7.4 points

9.6 points or more

“Internal” financial performance criterion

Pay-out rate (1)

0%

100%

150%

2015 Plan:

2015 Plan:

2015 Plan:

9.4% or less

12.8%

14.5% or more

Average normalized free cash flow as a percentage of sales over a three-year period

2016 Plan:

2016 Plan:

2016 Plan:

8.8% or less

12.2%

13.9% or more

2017 Plan:

2017 Plan:

2017 Plan:

8.6% or less

12.0%

13.7% or more

Non-financial performance criterion (applicable to the 2016 and 2017 performance share plans)

Applicable to beneficiaries with the exception of the Executive Director

Between 70% and 100%

Between 100% and 105%

Between 105%

0%

and 150% Capped at 150%

Pay-out rate (1)

Average rate of attainment of Group

CSR Roadmap priorities over a three-year period

Between 70% and 100%

Between 100% and 125%

Between 125% and 200%

Below 70%

Above 200%

Applicable to the Executive Director

Between 70% and 90%

Between 90% and 97%

Between 97%

Pay-out rate (1)

0%

and 150% Capped at 150%

Average rate of attainment of Group CSR Roadmap priorities over a three-year period

Between 70% and 90%

Between 90% and 125%

Between 125% and 213%

Below 70%

Above 213%

(1) For any point between the limits given in the table above, the pay-out rate would be calculated in a linear way.

If all the shares from the 2015, 2016 and 2017 plans were to vest (i.e., 1,331,640 shares), the Company’s capital would be diluted by 0.5% as of December 31, 2017.

322

REGISTRATION DOCUMENT 2017 - LEGRAND

Made with FlippingBook - professional solution for displaying marketing and sales documents online