| FISCAL 2022 | FISCAL 2021 | FISCAL 2020 | ||||
|---|---|---|---|---|---|---|
| DENIS MACHUEL CHIEF EXECUTIVE OFFICER (in euro) | GROSS AMOUNTS AWARDED (BEFORE TAX) | GROSS AMOUNTS PAID (BEFORE TAX) | GROSS AMOUNTS AWARDED (BEFORE TAX) | GROSS AMOUNTS PAID (BEFORE TAX) | GROSS AMOUNTS AWARDED (BEFORE TAX) | GROSS AMOUNTS PAID (BEFORE TAX) |
| Fixed compensation(1) | Fixed compensation (1)FISCAL 202275,000 |
Fixed compensation (1)FISCAL 202175,000 |
Fixed compensation (1)FISCAL 2020900,000 |
900,000 | 675,000 | 675,000 |
| Variable compensation(2) | Variable compensation (2)FISCAL 202275,000 |
Variable compensation (2)FISCAL 2021885,000(4) |
Variable compensation (2)FISCAL 2020810,000 |
— | — | 892,800 |
| Exceptional compensation | Exceptional compensation FISCAL 2022N/A |
Exceptional compensation FISCAL 2021N/A |
Exceptional compensation FISCAL 2020N/A |
N/A | N/A | N/A |
| Directors’ compensation | Directors’ compensation FISCAL 2022N/A |
Directors’ compensation FISCAL 2021N/A |
Directors’ compensation FISCAL 2020N/A |
N/A | N/A | N/A |
| Non-compete | Non-competeFISCAL 20221,045,000 | Non-competeFISCAL 20211,045,000(4) | Non-competeFISCAL 2020
|
|||
| Benefits in kind(3) | Benefits in kind (3)FISCAL 202229,448 |
Benefits in kind (3)FISCAL 202129,448 |
Benefits in kind (3)FISCAL 202013,394 |
13,394 | 13,463 | 13,463 |
| TOTAL | TOTALFISCAL 20221,224,448 | TOTALFISCAL 20212,034,448 | TOTALFISCAL 20201,723,394 | 913,394 | 688,463 | 1,581,263 |
(1) Given the unprecedented sanitary crisis caused by the Covid-19 pandemic and its resulting social and economic impacts, the Board of Directors decided to reduce Denis Machuel's fixed salary by 50% for the second half of Fiscal 2020. This decision received the full support of Denis Machuel, who thereby demonstrated his solidarity with the Group’s employees
(2) Denis Machuel's variable compensation for the year, to be paid the following year (see tables below for details). Given the unprecedented sanitary crisis caused by the Covid-19 pandemic and its resulting social and economic impacts, the Board of Directors decided to suppress any variable compensation for Fiscal 2020. The Board of Directors decided to establish the budget for Fiscal 2021 for each of the first and second halves of the fiscal year. Thus, the financial performance targets were set in October 2020 for the first half and in March 2021 for the second half. This structure has been applied to all employees eligible for variable compensation. The possibility of an outperformance payment was precluded for this year
(3) Denis Machuel has the use of a Company car and is the beneficiary of an unemployment insurance policy. 28,350 euro was paid in September 2021 to finance the purchase of an individual insurance policy for the 12 months following the termination of his duties.
(4) Amounts paid in Fiscal 2022 and 2021 subject to approval at the Annual Shareholders Meeting.
The Board of Directors wanted to recognize Denis Machuel’s work at the Group over the last 14 years, his leadership through the recent crisis, and his commitment up to his last day of service. The Board decided to set the amount of the annual variable portion for Fiscal 2022 on a prorata temporis basis to the amount of the target annual variable portion of the Chief Executive Officer, i.e., 75,000 euro. This amount will be paid only if the shareholders vote in favor of the corresponding resolution at the Annual Shareholders Meeting on December 14, 2021.
Exceptionally and given the unprecedented sanitary crisis caused by the Covid-19 pandemic, the Board of Directors decided to establish the budget for Fiscal 2021 for each of the first and second halves of the fiscal year. Thus, the financial performance targets were set in October 2020 for the first half and in March 2021 for the second half. This structure has been applied to all employees eligible for variable compensation.
The possibility of an outperformance payment was precluded for this year.
