PERNOD RICARD - Universal Registration Document 2019-2020
6. CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
Presence of performance condition
Outstanding shares at 30.06.2020
Share expense for FY20 (€ thousands)
Type of shares
Number of beneficiaries
Shares acquired from
Shares vested from
Performance shares
Plan dated 06.11.2015
Free
Conditional
1,006
07.11.2019
07.11.2019
0
2,611
Plan dated 17.11.2016
Free
Conditional
997
18.11.2020
18.11.2020
366,417
7,368
33% 18.11.2017 33% 18.11.2019
33% 18.11.2018 33% 18.11.2020 33% 18.11.2019 33% 18.11.2021
Plan dated 17.11.2016
Free Unconditional
6
0
0 (1)
Plan dated 09.11.2017
Free
Conditional
1,000
10.11.2021
10.11.2021
200,523
112 (2)
Plan dated 21.11.2018
Free
Conditional
958
22.11.2022
22.11.2022
208,312
3,876 (2)
Plan dated 08.11.2019
Free
Conditional
820
09.11.2023
09.11.2023
175,706
3,735 (2)
For this plan, the Group decided to recognise all expenses in FY17. (1) Quantities of outstanding shares and share expenses taking into account the adjusted achievement of the performance condition for the 2017 plan and the cap on share (2) vesting under the 2018 and 2019 plans at 66%, in accordance with the decision taken by the Board of Directors, on the recommendation of the Compensation Committee and in compliance with the plan rules. The history of stock option plans that have not yet expired is presented in the “Corporate governance” section of the Universal Registration Document. For the vested stock option plan, the total number of options outstanding is 114,893, with an average remaining life of three years and three months. The Group recognised an expense of €2.6 million as an operating loss for five stock option plans in the process of vesting at 30 June 2020, as well as an expense of €17.7 million in respect of the five performance-based share plans.
Annual expenses € million
30.06.2019
30.06.2020
Stock options – through a double entry to equity
3
3
Performance-based and bonus shares – through a double entry to equity
33
18
TOTAL ANNUAL EXPENSES
36
20
Changes made to outstanding stock options/shares during the year (period from 1 July 2019 to 30 June 2020) are described below:
Presence of performance condition
Outstanding options at 30.06.2019
Allocated during the period
Cancelled during the period
Exercised during the period
Expired during the period
Outstanding options at 30.06.2020
Type of options
Plan dated 06.11.2015
Purchase Conditional
182,507
0
0
67,614
0
114,893
Plan dated 17.11.2016
Purchase Conditional
150,008
0
25,506
0
0
124,502
Plan dated 09.11.2017
Purchase Conditional
124,050
0
0
0
0
124,050
Plan dated 21.11.2018
Purchase Conditional
109,492
0
0
0
0
109,492
Plan dated 08.11.2019
Purchase Conditional
0
131,864
0
0
0
131,864
Presence of performance condition
Outstanding shares at 30.06.2019
Allocated during the period
Cancelled during the period
Transferred during the period
Expired during the period
Outstanding shares at 30.06.2020
Type of shares
Plan dated 06.11.2015
Free Conditional
337,828
0
8,510
329,318
0
0
Plan dated 17.11.2016
Free Conditional
406,026
0
38,869
740
0
366,417
Plan dated 17.11.2016
Free Unconditional
24,853
0
0
24,853
0
0
Plan dated 09.11.2017
Free Conditional
348,742
0
147,627
592
0 200,523 (1)
Plan dated 21.11.2018
Free Conditional
336,069
0
127,212
545
0 208,312 (1)
Plan dated 08.11.2019
Free Conditional
N/A
269,474
93,475
293
0 175,706 (1)
N/A: not applicable. Quantities of outstanding shares and share expenses taking into account the adjusted achievement of the performance condition for the 2017 plan and the cap on share (1) vesting under the 2018 and 2019 plans at 66%, in accordance with the decision taken by the Board of Directors, on the recommendation of the Compensation Committee and in compliance with the plan rules.
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