The fixed and variable components of the total compensation and benefits paid during or awarded for Fiscal 2023 to Sophie Bellon comply with the Fiscal 2023 compensation policy for the Chief Executive Officer detailed in the 2022 Universal Registration Document (Chapter 6, Section 6.5.1.3) and approved by the Shareholders Meeting of December 19, 2022 (fourteenth resolution, approved by 94.4% of the votes).
The compensation components paid during or awarded for Fiscal 2023 as presented below will be submitted for approval at the Annual Shareholders Meeting of December 15, 2023.
| TYPE OF COMPENSATION OR BENEFITS | AMOUNTS PAID DURING FISCAL 2023 | AMOUNTS AWARDED FOR FISCAL 2023 OR ACCOUNTING VALUE | COMMENTS |
|---|---|---|---|
| Fixed compensation | Fixed compensation AMOUNTS PAID DURING FISCAL 2023€900,000 |
Fixed compensation AMOUNTS AWARDED FOR FISCAL 2023 ORACCOUNTING VALUE €900,000 |
Fixed compensation COMMENTS Pre-tax gross amount due for the fiscal year. The fixed compensation includes compensation payable and paid for her role as Chairwoman and Chief Executive Officer. |
| Variable compensation | Variable compensation AMOUNTS PAID DURING FISCAL 2023€587,250 |
Variable compensation AMOUNTS AWARDED FOR FISCAL 2023 ORACCOUNTING VALUE €966,195 |
Variable compensation COMMENTS Amount awarded consisting of the variable bonus due to the Chairwoman and Chief Executive Officer for Fiscal 2023 in application of the Fiscal 2023 compensation policy for the Chief Executive Officer, and payable in Fiscal 2024. Amount corresponding to 107.4% of the fixed compensation received in Fiscal 2023 As her role as Chairwoman and Chief Executive Officer began on March 1, 2022, the amount paid for Fiscal 2022 was calculated on a prorata temporis basis. |
| Stock options and performance shares | Stock options and performance shares AMOUNTS PAID DURING FISCAL 2023N/A |
Stock options and performance shares AMOUNTS AWARDED FOR FISCAL 2023 ORACCOUNTING VALUE €1,784,516 |
Stock options and performance shares COMMENTS On January 31, 2023, the Chairwoman and Chief Executive Officer was granted 24,500 shares valued for accounting purposes at 1,784,516 euros. All of the shares granted are subject to performance conditions. The vesting period is 3 years. |
| Directors’ compensation | Directors’ compensation AMOUNTS PAID DURING FISCAL 2023N/A |
Directors’ compensation AMOUNTS AWARDED FOR FISCAL 2023 ORACCOUNTING VALUE N/A |
Directors’ compensation COMMENTS The Chairwoman and Chief Executive Officer does not receive any directors’ compensation. |
| Supplemental pension plan | Supplemental pension plan AMOUNTS PAID DURING FISCAL 2023No amounts paid |
Supplemental pension plan AMOUNTS AWARDED FOR FISCAL 2023 ORACCOUNTING VALUE No amounts awarded |
Supplemental pension plan COMMENTS Since her appointment on March 1, 2022, the Chairwoman and Chief Executive Officer has been a beneficiary of a defined benefit pension plan governed by article 39 of the French General Tax Code and article L.137-11-2 of the French Social Security Code, set up in 2021 for the Group’s senior executives holding an employment contract with one of its French companies. This plan grants annual rights amounting to 0.5% of fixed and variable compensation for her role as Chairwoman and Chief Executive Officer for the first five years and then 1% per year beyond five years, up to a total of 10%. The rights vest subject to an achievement rate for the Chairwoman and Chief Executive Officer’s annual variable compensation targets of at least 80%. As this condition was met for Fiscal 2023, the Chairwoman and Chief Executive Officer has acquired the right to a lifetime annuity of 9,330 euros gross per year. |
| Benefits in kind | Benefits in kind AMOUNTS PAID DURING FISCAL 2023€1,123 |
Benefits in kind AMOUNTS AWARDED FOR FISCAL 2023 ORACCOUNTING VALUE €1,123 |
Benefits in kind COMMENTS Sophie Bellon has the use of a company car. |
Sophie Bellon is not eligible for any of the following types of compensation or benefits: multi-year variable compensation, exceptional compensation, non-compete indemnity or termination benefit.
