EURONEXT_Registration_Document_2017
CORPORATE GOVERNANCE
Remuneration report
LONG-TERM INCENTIVE (LTI) COMPONENT AS A PERCENTAGE OF THE BASE SALARY FOR MANAGING BOARD MEMBERS
ON TARGET ANNUAL CONDITIONAL LTI AS % OF BASE SALARY
MAXIMUM LTI AS % OF BASE SALARY AT VESTING, ALL PERFORMANCE CONDITIONS OVERACHIEVED BY 33.3%
POSITION
CEO
100.00%
200.00%
Head of Global Markets & Sales
75.00%
150.00%
CEO France/ CEO Netherlands
75.00%
150.00%
CEO Belgium / CEO Portugal
50.00%
100.00%
2
2.4.3
REMUNERATION OF MANAGING BOARD MEMBERS
Registration Document. The total remuneration for the members of the Managing Board, for the year 2017 amounts to €6,153,906. This amount includes exceptional bonus and a pro rata compensation related to Jos Dijsselhof and Maria João Carioca. The total remuneration consists of (I) an aggregate base salary, (II) the aggregate short-term incentive compensation based on the achievements against objective measureable criteria and (III) the aggregate LTI compensation recognised in accordance with IFRS 2 and (IV) an amount to be contributed to post-employment benefits. For the members of the Managing Board in active service on 31 December 2017 these amounts are as described herewith:
Managing Board and Senior Management Remuneration for 2017
Euronext’s Supervisory Board establishes the individual remuneration of the members of the Managing Board within the framework of its remuneration policy as adopted by the Annual General Meeting upon a recommendation by the Remuneration Committee. For the actual remuneration expensed for the year 2017, reference is made to Note 50 of the Financial Statements included in this
BASE SALARY (ANNUALISED PER 31/12/2017)
LTI COMPENSATION BASED ON IFRS 2 (c)
POST-EMPLOYMENT BENEFITS
NAME
TITLE
CURRENCY
STI OVER 2017
Group Chief Executive Officer Euronext CEO of Euronext Paris and Global Head of Listing CEO of Euronext London and Head of Markets and Global Sales CEO of Euronext Lisbon & Interbolsa and Head of Market Solutions CEO of Euronext Amsterdam and Head of Market Operations and Client Centricity
Stéphane Boujnah
EUR
725,000
815,625
291,045
Anthony Attia
EUR
300,000
225,000
257,948
Lee Hodgkinson (a)
EUR
365,101
136,913
420,614
27,793
Paulo da Silva (b)
EUR
230,000
138,000
-
28,750
Maurice van Tilburg Vincent Van Dessel
EUR
270,000
190,000
71,539
16,869
CEO of Euronext Brussels
EUR 33,853 (a) Lee Hodgkinson is based in the United Kingdom and is paid in GBP; All amounts for his remuneration are stated in EUR. The corresponding GBP numbers are as follows: Base salary 320,000, Actual paid STI over 2017: 120,000, LTI compensation based on IFRS 368,655 and post-employment benefit 24,360. (b) On 13 December 2016 it was announced that Maria João Carioca had resigned and would step down from her role in the Managing Board. Her resignation became effective on 1 March 2017. At the Annual General Meeting held on 19 May 2017, Paulo Jorge da Silva has been formally appointed as CEO of Portugal. The base salary has been annualised. (c) IFRS standard 2 on,“Shared-based payments” prescribes recognition of expense for share based grants on the fair value as per grant date.This “grant date fair value” is expensed over the 3-year vesting period. 270,701 110,000 157,460
The base salary is linked to the overall job responsibilities of the individual Managing Boardmember and reflects internal consistency.
The STI consists of an annual performance compensation component as a percentage of base salary. The variable component levels are set by the Supervisory Board and may vary per member of the Managing Board. They are set annually for the relevant year and
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2017 REGISTRATION DOCUMENT
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