For plans with no annual award (LionLead and LTIP Directoire, in particular), share-based compensation was taken into consideration at its actual amount for said plans’ years of performance. These valuations make it possible to reflect the strict performance conditions of our plans and the specific details of the performance shares awarded to our executive corporate officers.
The 2009-16 position-recommendation of the AMF and the Afep-Medef Code recommends a standardized presentation of the compensation of executive corporate officers of companies whose securities are traded on a regulated market.
/ Table 1 (AMF nomenclature) compensation summary table in respect of the compensation due and the options and shares granted to each executive corporate officer (in euros)
2019 | 2018 | |
|---|---|---|
Management Board | 2019
| 2018
|
Arthur Sadoun, Chair of the Management Board | 2019
| 2018
|
Compensation due for the financial year(1) | 2019 2,400,000 | 2018 2,400,000 |
Valuation of options granted during the year | 2019 - | 2018 - |
Maximum annual valuation of performance share granted during the financial year(3) | 2019 865,800 | 2018 1,722,211 |
Total | 2019 3,265,800 | 2018 4,122,211 |
Jean-Michel Etienne, Executive Vice President – Groupe Finance | 2019
| 2018
|
Compensation due for the financial year(1) | 2019 1,512,000 | 2018 1,512,000 |
Valuation of options granted during the year | 2019 - | 2018 - |
Maximum annual valuation of performance share granted during the financial year(3) | 2019 577,200 | 2018 1,148,141 |
Total | 2019 2,089,200 | 2018 2,660,141 |
Anne-Gabrielle Heilbronner, Secretary General | 2019
| 2018
|
Compensation due for the financial year(1) | 2019 1,080,000 | 2018 1,080,000 |
Valuation of options granted during the year | 2019 - | 2018 - |
Maximum annual valuation of performance share granted during the financial year(3) | 2019 288,600 | 2018 1,148,141 |
Total | 2019 1,368,600 | 2018 2,228,141 |
Steve King, member of the Management Board | 2019
| 2018
|
Compensation due for the financial year (1)(2) | 2019 2,175,807 | 2018 2,482,200 |
Valuation of options granted during the year | 2019 - | 2018 - |
Maximum annual valuation of performance share granted during the financial year(3) | 2019 721,500 | 2018 1,435,167 |
Total | 2019 2,897,307 | 2018 3,917,367 |
(1) See details in Table 2.
(2) Compensation determined and paid in pounds sterling. The translation into euros was carried out at the average rate of 1 pound sterling = euro 1.14036 in 2019.
(3) Annual maximum amount under the Sprint to the Future plan for 2018 and under the LTIP 2019-2021 Directoire plan for 2019. In the case of the Sprint to the Future plan, the condition regarding achieving Groupe revenue organic growth (2018-2020 average) targets are not achievable given the performances already posted for 2018 and 2019. Failure to satisfy this condition results in a loss of all entitlement to shares awarded at the outset of the plan. The LTIP 2019-2021 Directoire plan is a three-year plan subject to continued employment and performance conditions. As an illustration, the rates at which performance conditions were met under the preceding plans i.e. LionLead3 and 2016-2018 LTIP, were around 75% and 50%, respectively. The LTIP 2019-2021 Directoire plan covers the 2019, 2020 and 2021 financial years.
