Follow up of the grants to executive directors
No stock options have been awarded since September 14, 2011. Until this date, the Company’s executive directors in office at the time of the decision were awarded stock options as part of broader share grant plans approved by the Board of Directors for certain Group employees and senior executives. Options granted to the executive directors were governed by the same provisions that apply to other beneficiaries of grant plans.
For options awarded between 2007 and 2011, the Board of Directors has made the exercise of options awarded to the executive directors contingent upon a presence condition and performance conditions based on the Group’s ROE and ROACE. The acquisition rate of performance-related options under the 2009, 2010 and 2011 plans was 100%. It had been 60% for the 2008 plan.
All the options awarded to Messrs. Desmarest and Pouyanné outstanding at December 31, 2014 respectively represented 0.005% and 0.005% of the potential share capital(1) of the Company on that date.
Stock options exercised in fiscal year 2014 by each executive director (AMF Table No. 5)
Grant of performance shares
Since 2011, the former Chairman and Chief Executive Officer had been awarded performance shares as part of the broader share grant plans approved by the Board of Directors for certain Group employees. Subject to specific performance conditions, performance shares granted to the Chairman and Chief Executive Officer were governed by the same provisions that apply to other beneficiaries of grant plans.
The performance conditions of performance share grant plans decided in 2012, 2013 and 2014 are described in Note 25 to the Consolidated Financial Statements.
For the 2012 plan, pursuant to performance conditions, the acquisition rate was 100% for shares granted under performance conditions based on the ROE and 88% for shares granted under performance conditions based on the ROACE. It should be noted that these acquisition rates were 100% for 2010 and 2011 plans.
Performance shares awarded to each executive and non executive director in fiscal year 2014 by the issuer and by any Group company (AMF Table No. 6)
Performance shares that have become available for each executive and non executive director (AMF Table No. 7)
(1) Based on a potential capital of 2,401,902,936 shares (refer to point 1.4.“Potential share capital” of chapter 9).
(2) Mr. Pouyanné exercised his options while he was a salaried employee of the Group (i.e., prior to his appointment as Chief Executive Officer on October 22, 2014).