The expense recognized in the Fiscal 2023 income statement for restricted shares (including those granted to employees of the Benefits & Rewards Services activity (Pluxee)) is 45 million euros (38 million euros in Fiscal 2022).
The following table shows the headcount of Group employees (including Pluxee):
| AUGUST 31, 2023 | AUGUST 31, 2022 | |
|---|---|---|
| AVERAGE HEADCOUNT AS OF AUGUST 31 | AVERAGE HEADCOUNT AS OF AUGUST 31AUGUST 31, 2023429,305 | AVERAGE HEADCOUNT AS OF AUGUST 31AUGUST 31, 2022418,393 |
| TOTAL HEADCOUNT AS OF AUGUST 31 | TOTAL HEADCOUNT AS OF AUGUST 31AUGUST 31, 2023435,159 | TOTAL HEADCOUNT AS OF AUGUST 31AUGUST 31, 2022421,991 |
The compensation, loans, post-employment benefits and other benefits granted to Board members and to the Sodexo Leadership Team, including the Chairwoman and Chief Executive Officer in office, as of August 31, 2023, respectively for Fiscal 2022 and Fiscal 2023 comprise the following:
| (in million euros) | FISCAL 2023 | FISCAL 2022 |
|---|---|---|
| Short-term benefits* | Short-term benefits* FISCAL 2023 14.3 |
Short-term benefits* FISCAL 2022 12.9 |
| Post-employment benefits | Post-employment benefits FISCAL 2023 0.1 |
Post-employment benefits FISCAL 2022 0.1 |
| Fair value of free shares at the grant date | Fair value of free shares at the grant date FISCAL 2023 10.8 |
Fair value of free shares at the grant date FISCAL 2022 10.7 |
* Short-term benefits correspond to compensations paid by the Group to Board members and to the Executive Committee during Fiscal 2023 (including variable compensations of the prior financial year which where accrued during the latter).
These benefits include directors’ compensation, and all forms of compensation and benefits paid (or earned during the period for offices held) by Sodexo S.A., other Sodexo Group companies or Bellon SA.
In addition, members of the Sodexo Leadership Team, holding an employment contract with one of its French subsidiaries, are beneficiaries of a defined benefit pension plan governed by article L.137-11-2 of the French Social Security Code. This pension plan was introduced in 2021 in line with the following rules: subject to one year of seniority within the Group, pension rights of up to 0.5% per year are granted for the first five years of the plan, and then up to 1% beyond five years, not exceeding a total of 10%. The rights are determined based on the fixed and variable compensation received during the calendar year. The rights vest subject to an achievement rate for annual variable compensation targets. The resulting pension will top up the pensions provided by the basic compulsory plans and will not generate any corresponding obligation on the Company’s balance sheet.
As a reminder, Sophie Bellon, Chairwoman and Group Chief Executive Officer since October 1, 2021, is paid by Sodexo S.A. but does not have an employment contract with Sodexo S.A.
The Company has entered into non-compete clauses with a maximum term of 24 months with the Chairwoman and Chief Executive Officer and the Sodexo Leadership Team in order to protect the Group by restricting their freedom to hold a position as employee or director, or carry out any consulting work, for any of Sodexo’s competitors, either directly or through another legal entity. This commitment applies to Sophie Bellon, without payment of any financial consideration.
No loans have been granted to the Board or the Sodexo Leadership Team members.
