LISI FINANCIALREPORT2013 I
113
INFORMATIONREGARDINGTHECOMPANYANDCORPORATEGOVERNANCE
7
2012plan:
Actingon the recommendationof theCompensationCommittee, LISI's
Board of Directors decided, on October 24, 2012, with the permission
of theGeneralMeetingofApril 26, 2012, toallocateperformance shares
tomembers of the Executive Committee and tomembers of themain
Management Committees for the three LISI Group divisions, subject
to theirmeetingall or part of certainperformance targets: reachingon
December 31, 2014, one criterion, namely Net Asset Value of at least
€900m. If the Net Asset Value is between €900m and €1,220m, the
shareswouldbe allocated inpart. If theNet Asset Value is higher than
€1,220m, the shareswouldbeallocated in full. Themaximumallocated
numberofshares is50,950sharesandconcerns152Frenchemployees.
Theplanalso stipulates that shares thus allocated shall beheld for two
years,duringwhichperiodtheymaynotbesoldon.
As far as the corporate officers are concerned, the Board of Directors
decided:
1) Inorder to receiveatmaturityall orpartof thePerformanceShares to
which theyareentitled, eachof thecorporateofficerdirectorsshall, at
theendoftheacquisitionperiod,acquire200Companyshares.
2)Thecorporateofficerdirectorsshallretain200ofanyshareswhichmay
havebeen allocated to them registered in their ownname, anduntil
theterminationoftheiremployment.
52employeesoutsideof Francewill benefit frombonusesbasedon the
principlesandconditions,but inthe formofpayandsalaries.
2013plan:
Actingon the recommendationof theCompensationCommittee, LISI's
Board of Directors decided, on October 24, 2013, with the permission
of theGeneralMeetingofApril 25, 2013, toallocateperformance shares
tomembers of the Executive Committee and tomembers of themain
Management Committees for the three LISI Group divisions, subject
to their meeting all or part of certain performance targets: reaching
onDecember 31, 2015, one criterion, namelyNet Asset Valueof at least
€1,000m. If theNet Asset Value is between€1,000m and€1,360m, the
shareswouldbe allocated inpart. If theNet Asset Value is higher than
€1,360m, the shareswouldbeallocated in full. Themaximumallocated
numberofshares is33,340sharesandconcerns159Frenchemployees.
Theplanalso stipulates that shares thus allocated shall beheld for two
years,duringwhichperiodtheymaynotbesoldon.
As far as the corporate officers are concerned, the Board of Directors
decided:
1) Inorder to receiveatmaturityall orpartof thePerformanceShares to
which theyareentitled, eachof thecorporateofficerdirectorsshall, at
theendoftheacquisitionperiod,acquire130Companyshares.
2)Thecorporateofficerdirectorsshall retain130ofany freeshareswhich
may havebeen allocated to them registered in their ownname, and
until theterminationoftheiremployment.
50employeesoutsideof Francewill benefit frombonusesbasedon the
principlesandconditions,but inthe formofpayandsalaries.
c) Information relating to share-purchase options and the awarding
of shares basedon performance onDecember 31, 2013.
The table below shows the information relating to share-purchase
options andperformance-based sharesoutstandingas atDecember 31,
2013:
Number
Average
weighted
exercise
price of
options
in€
Optionsoutstandingatyear start
96,850
Optionsallocatedduring theperiod
33,340
Optionscancelledduring theperiod
(2,550)
Optionsexercisedduring theyear
Options that reachedmaturityduring
theperiod
Optionsoutstandingatyearend
127,640
Optionsgranted todatewere taken from treasuryshareswithoutgiving
risetothe issueofnewshares.
The followingtablepresentsthebreakdownbydateofallocationofstockoptionsoutstandingasatDecember31,2013:
Allotment Date of Options
Exercise price in€
Number of options outstanding at
December 31, 2013
Residual contractual term
07/28/11
None
43,050
02/26/14
10/24/12
None
50,950
February2015
10/24/12
None
300
February2015
10/24/13
None
33,340
February2016
Total
127,640
