In accordance with article L. 22-10-34 (II) of the French Commercial Code, the General Shareholders’ Meeting must vote on the fixed, variable and extraordinary items of total compensation and benefits of any kind paid during the past financial year or awarded for that financial year to the Chairman of the Supervisory Board.
The General Shareholders’ Meeting of May 26, 2021 will thus be asked to vote on the items of compensation paid or awarded in respect of the 2020 financial year to Maurice Lévy, Chairman of the Supervisory Board, as set out below, being noted that Maurice Lévy only receives a fixed compensation as Chairman of the Supervisory Board. These elements comply with the compensation policy for the Chairman of the Supervisory Board for the 2020 financial year presented in Section 3.2.1.3 of the Publicis Groupe SA 2019 Universal Registration Document as approved by the General Shareholders’ Meeting of May 27, 2020 in its sixth resolution.
The items of compensation of the Chairman of the Supervisory Board were thus approved by the previous General Shareholders’ Meeting; the items of compensation paid as from June 1, 2019 to the Chairman of the Board reflect his decision to waive a third of his prior compensation while taking into account the vote of the Meeting. Furthermore, in the exceptional environment of the Covid-19 pandemic, Maurice Lévy informed the Company of his decision to reduce his annual compensation by 30%.
It should be noted that the variable and extraordinary items of compensation are subject to the approval of the Ordinary General Shareholders’ Meeting in accordance with the provisions of article L. 22-10-34 (II) paragraph 2 of the French Commercial Code.
Items within the total compensation and benefits of any kind paid during the past financial year or awarded with respect to the same financial year to Maurice Lévy, Chairman of the Supervisory Board, are subject to the approval of the General Shareholders’ Meeting of May 26, 2021 in its fifteenth resolution pursuant to article L. 22-10-34 (II) of the French Commercial Code.
Items of compensation subject to approval | Amounts paid in respect of the past financial year (period 2019-2020) | Amounts awarded in respect of the past financial year or accounting valuation (period 2020-2021) | Amounts to be paid for the period | Presentation |
|---|---|---|---|---|
Fixed compensation | Fixed compensation Amounts paid in respect of the past financial year (period 2019-2020) 1,900,000 | Fixed compensation Amounts awarded in respect of the past financial year or accounting valuation (period 2020-2021) 1,900,000 | Fixed compensation Amounts to be paid for the period 1,330,000 | Fixed compensation Presentation The amount paid for 2020 corresponds to the total payment of the fixed compensation of Maurice Lévy awarded for the period from May 2019 to May 2020. The amount awarded for 2020 corresponds to the sum initially awarded by Publicis Groupe, which does not take into account the decision by Maurice Lévy to reduce his compensation by 30%, as described in Section 3.2.1.3 of the 2019 Universal Registration Document. This reduction will appear when compensation is paid for the period from May 2020 to May 2021, which will then amount to euro 1,330,000. The rules for determining the fixed compensation of the Chairman of the Supervisory Board are set out in Section 3.2.1.3 of this document. |
