|
|
|
WEIGHTING OF TARGETS | MAXIMUM IN% OF TARGET | ACHIEVEMENT RATE | CORRESPONDING AMOUNT
(in euro) |
|---|---|---|---|---|---|
| 70% based on financial targets | 70% based on financial targets Organic growth |
70% based on financial targets WEIGHTING OF TARGETS 20% |
70% based on financial targets MAXIMUM IN% OF TARGET 175% |
70% based on financial targets ACHIEVEMENT RATE 100% |
70% based on financial targets CORRESPONDING AMOUNT(in euro) 180,000 |
|
Underlying operating profit margin (excluding exchange rate impacts) |
20% |
WEIGHTING OF TARGETS 175% |
MAXIMUM IN% OF TARGET 86% |
ACHIEVEMENT RATE 154,800 |
|
|
Growth in Group net income |
10% |
WEIGHTING OF TARGETS 175% |
MAXIMUM IN% OF TARGET 0% |
ACHIEVEMENT RATE 0 |
|
|
Free cash flow |
20% |
WEIGHTING OF TARGETS 175% |
MAXIMUM IN% OF TARGET 175% |
ACHIEVEMENT RATE 315,000 |
|
|
Total financial targets |
70% |
WEIGHTING OF TARGETS 175% |
MAXIMUM IN% OF TARGET 103% |
ACHIEVEMENT RATE 649,800 |
|
| 30% based on non-financial targets | 30% based on non-financial targets Health and safety target |
30% based on non-financial targets WEIGHTING OF TARGETS 10% |
30% based on non-financial targets MAXIMUM IN% OF TARGET 100% |
30% based on non-financial targets ACHIEVEMENT RATE 100% |
30% based on non-financial targets CORRESPONDING AMOUNT(in euro) 90,000 |
|
Talent management |
10% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 70% |
ACHIEVEMENT RATE 63,000 |
|
|
Dow Jones Sustainability Index, industry leader position |
10% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 100% |
ACHIEVEMENT RATE 90,000 |
|
|
Total non-financial targets |
30% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 90% |
ACHIEVEMENT RATE 243,000 |
|
| TOTAL VARIABLE COMPENSATION FOR FISCAL 2019 | TOTAL VARIABLE COMPENSATION FOR FISCAL 2019 100% |
TOTAL VARIABLE COMPENSATION FOR FISCAL 2019 WEIGHTING OF TARGETS 150% |
TOTAL VARIABLE COMPENSATION FOR FISCAL 2019 MAXIMUM IN% OF TARGET 99% |
TOTAL VARIABLE COMPENSATION FOR FISCAL 2019 ACHIEVEMENT RATE 892,800 |
|
In accordance with the compensation policy approved by the shareholders at the Combined Annual Shareholders Meeting of January 21, 2020, the vesting period of shares granted under restricted share plans was reduced from four years to three years in order to align the vesting periods with the periods used to measure the achievement of the applicable performance conditions as well as to market practices. The timing of when the plans are usually set up was therefore also changed (i.e. during the first quarter of each fiscal year, aft er the publication of the financial statements for the previous fiscal year).
Consequently, in order to maintain a regular annual delivery of performance shares, no performance shares were granted to the Chief Executive Officer during Fiscal 2020.
| No PLAN NO. AND DATE | NUMBER OF SHARES THAT BECAME AVAILABLE DURING FISCAL 2020 |
|---|---|
| Plan no. 2016 dated April 27, 2016 | Plan no. 2016 dated April 27, 2016 NUMBER OF SHARES THAT BECAME AVAILABLE DURING FISCAL 2020 6,750 |
At its meeting on April 27, 2016, the Board of Directors decided, under its 2016 restricted share plan implemented pursuant to the authorization granted by the Annual Shareholders Meeting of January 26, 2016,
to grant 13,500 restricted shares to Denis Machuel, who at the time was a member of Sodexo’s Executive Committee. These shares were subject to a four-year vesting period expiring on April 27, 2020 and
to the following vesting conditions:
The performance condition was as follows:
(i) The vesting of 50% of the performance shares was subject to the average growth in operating profit (before exceptional items and excluding currency effects) in line with the external objectives of Sodexo, of between +8% to +10% per year for Fiscal 2016, Fiscal 2017, Fiscal 2018 and Fiscal 2019, as follows:
| GROWTH IN OPERATING PROFIT
(AVERAGE GROWTH PER YEAR FOR FISCAL 2016, FISCAL 2017,
|
NUMBER* OF VESTED SHARES
(% OF THE NUMBER OF SHARES SUBJECT TO THE CONDITION OF GROWTH IN OPERATING PROFIT) |
|---|---|
| Less than 8% per year | Less than 8% per year NUMBER* OF VESTED SHARES
(% OF THE NUMBER OF SHARES SUBJECT TO THE CONDITION OF GROWTH IN OPERATING PROFIT) 0% |
| Between 8% and 9% per year | Between 8% and 9% per year NUMBER* OF VESTED SHARES
(% OF THE NUMBER OF SHARES SUBJECT TO THE CONDITION OF GROWTH IN OPERATING PROFIT) 30%-60% |
| Between 9% and 10% per year | Between 9% and 10% per year NUMBER* OF VESTED SHARES
(% OF THE NUMBER OF SHARES SUBJECT TO THE CONDITION OF GROWTH IN OPERATING PROFIT) 60%-100% |
| 10% or higher per year | 10% or higher per year NUMBER* OF VESTED SHARES
(% OF THE NUMBER OF SHARES SUBJECT TO THE CONDITION OF GROWTH IN OPERATING PROFIT) 100% |
* Roundown to the closest whole number.
