The vesting of free shares under the above plans is conditional on continued employment throughout the vesting period. Vesting is also subject to non-market performance conditions for LTI 2017 to 2019, LTI 2019-2021 Directoire, Sapient 2017 to 2020 plans with a three-year vesting period, the 2019 Epsilon Replacement Plan, the 2019 special retention plan and the 2020 Epsilon LTI.
2020 | 2019 | |
|---|---|---|
Grants at January 1 | Grants at January 1 2020 4,595,712 | Grants at January 1 2019 7,399,011 |
Grants during the year | Grants during the year 2020 1,849,923 | Grants during the year 2019 2,747,940 |
Deliveries | Deliveries 2020 (1,348,507) | Deliveries 2019 (1,045,787) |
Grants lapsed | Grants lapsed 2020 (925,366) | Grants lapsed 2019 (4,505,452) |
Grants at December 31 | Grants at December 31 2020 4,171,762 | Grants at December 31 2019 4,595,712 |
Fair value of free Publicis Groupe shares granted during financial year 2020 | Sapient 2020 (4 years) | Sapient 2020 (3 years)(1) | LTI Epsilon 2020(2) |
|---|---|---|---|
Date of Management Board meeting | Date of Management Board meeting Sapient 2020 (4 years) 05/19/2020 | Date of Management Board meeting Sapient 2020 (3 years)(1) 05/19/2020 | Date of Management Board meeting LTI Epsilon 2020(2) 07/20/2020 |
Number of shares originally granted | Number of shares originally granted Sapient 2020 (4 years) 240,208 | Number of shares originally granted Sapient 2020 (3 years)(1) 345,295 | Number of shares originally granted LTI Epsilon 2020(2) 1,264,420 |
Initial valuation of shares granted (weighted average, in euros) | Initial valuation of shares granted (weighted average, in euros) Sapient 2020 (4 years) 22.18 | Initial valuation of shares granted (weighted average, in euros) Sapient 2020 (3 years)(1) 21.35 | Initial valuation of shares granted (weighted average, in euros) LTI Epsilon 2020(2) 24.28 |
Share price on the grant date (in euros) | Share price on the grant date (in euros) Sapient 2020 (4 years) 26.00 | Share price on the grant date (in euros) Sapient 2020 (3 years)(1) 26.00 | Share price on the grant date (in euros) LTI Epsilon 2020(2) 27.42 |
Vesting period (in years) | Vesting period (in years) Sapient 2020 (4 years) 1 to 4 | Vesting period (in years) Sapient 2020 (3 years)(1) 3 | Vesting period (in years) LTI Epsilon 2020(2) 1 to 3 |
(1) Conditional shares for which vesting is subject to the achievement of targets set for the years 2020 to 2022.
(2) Some shares are subject to the achievement of targets set for the year 2020.
The total impact of these plans on the 2020 income statement was euro 55 million (excluding taxes and social security charges), compared to euro 49 million in 2019 (see Note 4).
With regard to the free share plans granted subject to performance conditions, and for which performance has not yet been definitively measured as of December 31, 2020, the probability of meeting the targets set in respect of the calculation of the 2020 expense has been estimated as follows:
