Her variable compensation will be determined by the Board of Directors at the end of the fiscal year and paid, subject to shareholder approval, on a pro rata basis for the period until November 9 inclusive.
No clawback clause has been put in place for the Chief Executive Officer's variable compensation.
In accordance with best practices, as Sophie Bellon will step down from her role as Chief Executive Officer on November 10, 2025, she will not receive any performance share grants for Fiscal 2026.
The Board of Directors has decided not to set up a multi-year compensation system, preferring instead to apply a share-based long-term compensation program, which it considers to be more closely aligned with the interests of the Company's shareholders.
The compensation policy does not permit exceptional compensation to be granted to the Chairwoman and Chief Executive Officer.
The Chairwoman and Chief Executive Officer has the use of a Company car. Insurance, maintenance, and fuel costs related to the professional use of the vehicle are borne by the Company.
The Chairwoman and Chief Executive Officer is a member of the Company's collective health and benefit plans, subject to the same terms and conditions as those applicable to the Company's employees.
Sophie Bellon has requested not to benefit from this insurance.
In accordance with the principles relating to a potential change in governance set out in the compensation policy approved at the Annual Shareholders Meeting of December 17, 2024, the Board of Directors, on the recommendation of the Compensation Committee, has determined the compensation policy for the Chairwoman of the Board of Directors for Fiscal 2026, subject to shareholder approval at the Annual Shareholders Meeting of December 16, 2025.
The level of fixed compensation for the position of Chairwoman of the Board reflects the non-executive nature of the role, market practices, and the historical practices of the Group, which had a split governance structure until March 2022.
Sophie Bellon’s annual fixed compensation as Chairwoman of the Board of Directors has been set at 675,000 euros.
This compensation corresponds to the amount she received until Fiscal 2022, prior to her appointment as Chairwoman and Chief Executive Officer of the Group on March 1, 2022, which had remained unchanged since Fiscal 2018.
It will apply as from November 10, 2025.
The Chairwoman of the Board of Directors is a member of the Company's collective health and benefit plans, subject to the same terms and conditions as those applicable to the Company's employees.
The Chairwoman of the Board of Directors has the use of a Company car. Insurance, maintenance, and fuel costs related to professional use of the vehicle are borne by the Company.
The Chairwoman of the Board of Directors does not receive any additional compensation for her directorship or for her attendance at meetings of the Board Committees. Furthermore, she is not eligible for severance indemnity in the event that her term of office is terminated.
In addition, she does not benefit from any short-term annual or multi-year variable compensation, nor from any long-term compensation in the form of performance shares.
