Items of compensation subject to approval | Amounts paid in respect of the past financial year | Amounts awarded in respect of the past financial year or accounting valuation | Presentation |
|---|---|---|---|
Fixed compensation | 911,582 | 1,012,869 | Proportion of fixed compensation: 44.55% The previous Shareholders’ Meeting approved the compensation of Steve King, set at GBP 900,000 (euro 1,012,869), while being informed of Steve King’s decision to waive 20% of his fixed compensation for a period of six months from April 2020, which resulted in the payment of annual compensation of GBP 810,000 (euro 911,582) for the 2020 financial year. The rules for determining fixed compensation can be found in Section 3.2.1.7 of this document. |
Annual variable compensation | 1,134,413 | 1,620,590 | Proportion of variable compensation: 55.45% Variable compensation to be paid in 2021 for financial year 2020: After assessing the performance for each of the criteria indicated below and in accordance with the compensation policy adopted by the previous Shareholders’ Meeting during the 2020 financial year, the Supervisory Board set the variable part of Steve King’s compensation at GBP 1,440,000 gross, i.e. euro 1,620,590, the payment of which will be subject to the approval of the Annual General Shareholders’ Meeting of May 26, 2021 in its nineteenth resolution in accordance with article L. 22-10-34, II of the French Commercial Code. This amount results from the following facts and assessments shown below and in the table below. |
Multi-year variable compensation | - | - | N/A |
Exceptional compensation | - | - | N/A |
Stock options, performance shares or any other long-term benefit (warrants, etc.) | N/A | 721,500 | This amount represents the maximum annual valuation in the consolidated financial statements of the performance shares awarded in 2019 to Steve King under the LTIP 2019-2021 Directoire performance share plan as described in Section 3.2.1.4. In 2019, it was decided to award him 50,000 shares subject to continued presence and performance conditions covering the period 2019-2021 (i.e. 16,667 shares subject to continued presence and performance conditions per year)(2). |
Other benefits | - | - | The use of one of the Company cars(3) |
Indemnities when taking or leaving a function | - | - | No sum was awarded with respect to the past financial year. The severance payment described in Section 3.2.1.7 that may be paid to Steve King equates to one year of total gross compensation (fixed and variable compensation paid) calculated from the average over the previous 24 months of compensation, subject to performance conditions, i.e. an estimated amount of euro 2,328,870. |
Non-compete agreement | - | - | N/A |
Supplementary pension plan | 53,402 | 53,402 | N/A |
Collective health and welfare insurance plans | - | - | N/A |
Compensation by the company(ies) within the scope of consolidation as per article L. 233-16 of the French Commercial Code | - | - | Steve King continues to benefit from an employment contract with one of the Groupe’s subsidiaries. Compensation for offices held in Groupe companies is excluded by Janus, the Publicis Groupe code of conduct. Steve King does not receive compensation other than that detailed in this document. |
(1) Compensation determined and paid in pounds sterling. The translation into euros was carried out at the average rate of 1 pound sterling = euro 1.12541.
(2) In accordance with the Company’s usual practice, performance share plans that are awarded every three years are broken down in thirds over the three years in which the performance is assessed.
(3) Benefits in kind relating to the use of a company-provided vehicle are not mentioned if they are for an immaterial amount.
