Universal Registration Document Fiscal 2025

7 Corporate Governance

Further details of the plans in force are provided in the table below:

Restricted shares granted to Group managers
TABLE 9, BASED ON THE AFEP-MEDEF CODE TEMPLATE AND AMF RECOMMENDATION 2021-02
  2022 PLAN 2022-2 PLAN 2023 PLAN 2023-2 PLAN 2024 PLAN 2024-2 PLAN 2025 PLAN 2025-2 PLAN
Date of Annual Shareholders Meeting

Date of Annual Shareholders Meeting

2022 PLAN

12/14/2021

Date of Annual Shareholders Meeting

2022-2 PLAN

12/14/2021

Date of Annual Shareholders Meeting

2023 PLAN

12/14/2021

Date of Annual Shareholders Meeting

2023-2 PLAN

12/14/2021

Date of Annual Shareholders Meeting

2024 PLAN

12/15/2023

Date of Annual Shareholders Meeting

2024-2 PLAN

12/15/2023

Date of Annual Shareholders Meeting

2025 PLAN

12/15/2023

Date of Annual Shareholders Meeting

2025-2 PLAN

12/15/2023

Date of grant by the Board of Directors

Date of grant by the Board of Directors

2022 PLAN

02/01/2022

Date of grant by the Board of Directors

2022-2 PLAN

06/22/2022

Date of grant by the Board of Directors

2023 PLAN

01/31/2023

Date of grant by the Board of Directors

2023-2 PLAN

06/28/2023

Date of grant by the Board of Directors

2024 PLAN

02/23/2024

Date of grant by the Board of Directors

2024-2 PLAN

06/27/2024

Date of grant by the Board of Directors

2025 PLAN

04/24/2025

Date of grant by the Board of Directors

2025-2 PLAN

06/26/2025

Total number of shares granted

Total number of shares granted

2022 PLAN

1,031,372

Total number of shares granted

2022-2 PLAN

34,231

Total number of shares granted

2023 PLAN

1,078,145

Total number of shares granted

2023-2 PLAN

34,253

Total number of shares granted

2024 PLAN

834,387

Total number of shares granted

2024-2 PLAN

28,732

Total number of shares granted

2025 PLAN

906,460

Total number of shares granted

2025-2 PLAN

75,375

Total number of beneficiaries

Total number of beneficiaries

2022 PLAN

2,181

Total number of beneficiaries

2022-2 PLAN

25

Total number of beneficiaries

2023 PLAN

2,332

Total number of beneficiaries

2023-2 PLAN

41

Total number of beneficiaries

2024 PLAN

2,116

Total number of beneficiaries

2024-2 PLAN

27

Total number of beneficiaries

2025 PLAN

2,054

Total number of beneficiaries

2025-2 PLAN

29

% of share capital

% of share capital

2022 PLAN

0.70%

% of share capital

2022-2 PLAN

0.02%

% of share capital

2023 PLAN

0.75%

% of share capital

2023-2 PLAN

0.02%

% of share capital

2024 PLAN

0.57%

% of share capital

2024-2 PLAN

0.02%

% of share capital

2025 PLAN

0.61%

% of share capital

2025-2 PLAN

0.05%
Performance conditions
Underlying operating profit

Underlying operating profit

2022 PLAN

X

Underlying operating profit

2022-2 PLAN

X

Underlying operating profit

2023 PLAN

X

Underlying operating profit

2023-2 PLAN

X

Underlying operating profit

2024 PLAN

X

Underlying operating profit

2024-2 PLAN

X

Underlying operating profit

2025 PLAN

X

Underlying operating profit

2025-2 PLAN

X
Revenues

Revenues

2022 PLAN

X

Revenues

2022-2 PLAN

X

Revenues

2023 PLAN

X

Revenues

2023-2 PLAN

X

Revenues

2024 PLAN

X

Revenues

2024-2 PLAN

X

Revenues

2025 PLAN

X

Revenues

2025-2 PLAN

X
TSR

TSR

2022 PLAN

X

TSR

2022-2 PLAN

X

TSR

2023 PLAN

X

TSR

2023-2 PLAN

X

TSR

2024 PLAN

X

TSR

2024-2 PLAN

X

TSR

2025 PLAN

X

TSR

2025-2 PLAN

X
Corporate responsibility

Corporate responsibility

2022 PLAN

X

Corporate responsibility

2022-2 PLAN

X

Corporate responsibility

2023 PLAN

X

Corporate responsibility

2023-2 PLAN

X

Corporate responsibility

2024 PLAN

X

Corporate responsibility

2024-2 PLAN

X

Corporate responsibility

2025 PLAN

X

Corporate responsibility

2025-2 PLAN

X
Plans
Vesting date

Vesting date

2022 PLAN

02/01/2025

Vesting date

2022-2 PLAN

06/22/2025

Vesting date

2023 PLAN

01/30/2026

Vesting date

2023-2 PLAN

06/27/2026

Vesting date

2024 PLAN

02/22/2027

Vesting date

2024-2 PLAN

06/26/2027

Vesting date

2025 PLAN

04/23/2028

Vesting date

2025-2 PLAN

06/25/2028

Availability date

Availability date

2022 PLAN

02/03/2025

Availability date

2022-2 PLAN

06/23/2025

Availability date

2023 PLAN

01/31/2026

Availability date

2023-2 PLAN

06/28/2026

Availability date

2024 PLAN

02/23/2027

Availability date

2024-2 PLAN

06/28/2027

Availability date

2025 PLAN

04/24/2028

Availability date

2025-2 PLAN

06/26/2028

Total number of shares granted(1)

Total number of shares granted

(1)

2022 PLAN

1,031,372

Total number of shares granted

(1)

2022-2 PLAN

34,231

Total number of shares granted

(1)

2023 PLAN

1,078,145

Total number of shares granted

(1)

2023-2 PLAN

34,253

Total number of shares granted

(1)

2024 PLAN

834,387

Total number of shares granted

(1)

2024-2 PLAN

28,732

Total number of shares granted

(1)

2025 PLAN

906,460

Total number of shares granted

(1)

2025-2 PLAN

75,375

o/w to Corporate Officers

o/w to Corporate Officers

2022 PLAN

 

o/w to Corporate Officers

2022-2 PLAN

 

o/w to Corporate Officers

2023 PLAN

47,119

o/w to Corporate Officers

2023-2 PLAN

 

o/w to Corporate Officers

2024 PLAN

46,706

o/w to Corporate Officers

2024-2 PLAN

 

o/w to Corporate Officers

2025 PLAN

55,170

o/w to Corporate Officers

2025-2 PLAN

 

Sophie Bellon

Sophie Bellon

2022 PLAN

 

Sophie Bellon

2022-2 PLAN

 

Sophie Bellon

2023 PLAN

33,844

Sophie Bellon

2023-2 PLAN

 

Sophie Bellon

2024 PLAN

34,500

Sophie Bellon

2024-2 PLAN

 

Sophie Bellon

2025 PLAN

40,000

Sophie Bellon

2025-2 PLAN

 

Nathalie Bellon-Szabo

Nathalie Bellon-Szabo

2022 PLAN

 

Nathalie Bellon-Szabo

2022-2 PLAN

 

Nathalie Bellon-Szabo

2023 PLAN

13,275

Nathalie Bellon-Szabo

2023-2 PLAN

 

Nathalie Bellon-Szabo

2024 PLAN

12,206

Nathalie Bellon-Szabo

2024-2 PLAN

 

Nathalie Bellon-Szabo

2025 PLAN

15,170

Nathalie Bellon-Szabo

2025-2 PLAN

 

% of share capital

% of share capital

2022 PLAN

0.00%

% of share capital

2022-2 PLAN

0.00%

% of share capital

2023 PLAN

0.02%

% of share capital

2023-2 PLAN

0.00%

% of share capital

2024 PLAN

0.03%

% of share capital

2024-2 PLAN

0.00%

% of share capital

2025 PLAN

0.04%

% of share capital

2025-2 PLAN

0.00%
Aggregate number of shares canceled

Aggregate number of shares canceled

2022 PLAN

300,408

Aggregate number of shares canceled

2022-2 PLAN

5,360

Aggregate number of shares canceled

2023 PLAN

276,153

Aggregate number of shares canceled

2023-2 PLAN

7,764

Aggregate number of shares canceled

2024 PLAN

84,009

Aggregate number of shares canceled

2024-2 PLAN

0

Aggregate number of shares canceled

2025 PLAN

18,199

Aggregate number of shares canceled

2025-2 PLAN

0

Shares forfeited due to performance conditions not being met

Shares forfeited due to performance conditions not being met

2022 PLAN

38,832

Shares forfeited due to performance conditions not being met

2022-2 PLAN

2,710

Shares forfeited due to performance conditions not being met

2023 PLAN

0

Shares forfeited due to performance conditions not being met

2023-2 PLAN

0

Shares forfeited due to performance conditions not being met

2024 PLAN

0

Shares forfeited due to performance conditions not being met

2024-2 PLAN

0

Shares forfeited due to performance conditions not being met

2025 PLAN

0

Shares forfeited due to performance conditions not being met

2025-2 PLAN

0

Vested shares Vested shares

2022 PLAN

727,195
Vested shares

2022-2 PLAN

28,871
Vested shares

2023 PLAN

N/A
Vested shares

2023-2 PLAN

N/A
Vested shares

2024 PLAN

N/A
Vested shares

2024-2 PLAN

N/A
Vested shares

2025 PLAN

N/A
Vested shares

2025-2 PLAN

N/A
Accelerated vesting for death and disability Accelerated vesting for death and disability

2022 PLAN

3,769
Accelerated vesting for death and disability

2022-2 PLAN

0
Accelerated vesting for death and disability

2023 PLAN

1,644
Accelerated vesting for death and disability

2023-2 PLAN

0
Accelerated vesting for death and disability

2024 PLAN

385
Accelerated vesting for death and disability

2024-2 PLAN

0
Accelerated vesting for death and disability

2025 PLAN

0
Accelerated vesting for death and disability

2025-2 PLAN

0

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2022 PLAN

0

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2022-2 PLAN

0

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2023 PLAN

800,348

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2023-2 PLAN

26,489

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2024 PLAN

749,993

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2024-2 PLAN

28,732

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2025 PLAN

888,261

TOTAL OF THE PLANS AS OF AUGUST 31, 2025

2025-2 PLAN

75,375

As of August 31, 2025, a total of 2,569,198 restricted shares had been granted to Group Corporate Officers and managers and not yet vested (representing approximately 1.7% of the Company’s share capital as of the date of the Annual Shareholders Meeting of December 15, 2023), for a total amount of approximately 119 million euros (as measured in accordance with IFRS at the grant date).

Summary of restricted shares granted to the ten Group employees (other than Corporate Officers) receiving the highest number of shares or for whom the highest number vested
  TOTAL NUMBER OF SHARES PLAN DATE
Shares granted during Fiscal 2025 to the ten Group employees receiving the largest number of restricted shares (aggregate information)

Shares granted during Fiscal 2025 to the ten Group employees receiving the largest number of restricted shares (aggregate information)

TOTAL NUMBER OF SHARES

185,141

Shares granted during Fiscal 2025 to the ten Group employees receiving the largest number of restricted shares (aggregate information)

PLAN DATE

04/24/2025 06/26/2025

Shares vested during Fiscal 2025 for the ten Group employees receiving the largest number of restricted shares (aggregate information)

Shares vested during Fiscal 2025 for the ten Group employees receiving the largest number of restricted shares (aggregate information)

TOTAL NUMBER OF SHARES

144,197

Shares vested during Fiscal 2025 for the ten Group employees receiving the largest number of restricted shares (aggregate information)

PLAN DATE

02/01/2022 06/22/2022