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INFORMATION REGARDING THE COMPANY AND CORPORATE GOVERNANCE
137
LISI 2015 FINANCIAL REPORT
As far as the corporate officers are concerned, the Board of
Directors decided:
1) In order to receive at maturity all or part of the performance
shares to which they are entitled, each of the corporate
officer directors shall, at the end of the acquisition period,
acquire 650 Company shares (corresponding to 130 shares
before the stock split).
2) Corporate officers must keep in registered form 650 shares
that have been allocated to them for free, up until the
termination of their duties (corresponding to 130 shares
before the division of the nominal share value).
50 employees outside of France will benefit frombonuses based
on the principles and conditions, but in the form of pay and
salaries.
2014 plan:
On October 23, 2014, on the proposal of the Compensation
Committee, and under the authorization of the Shareholders’
General Meeting of April 23, 2014, LISI's Board of Directors
decided to award performance shares to the members of
the Executive Committee and to the members of the main
Management Committees of the LISI Group's three divisions,
subject to the achievement of all or part of the following
performance criteria: Net Asset Value (NAV) of at least €1,100
million at December 31, 2016. If the Net Asset Value is between
€1,100million and €1,365 million, the shares would be allocated
in part. If the Net Asset Value is higher than €1,365 million,
the shares would be allocated in full. The maximum allocated
number of shares is 173,250 shares and concerns 165 employees
in France.
The plan also stipulates that shares thus allocated shall be held
for two years, during which period they may not be sold on.
As far as the corporate officers are concerned, the Board of
Directors decided:
1) In order to receive at maturity all or part of the performance
shares to which they are entitled, each of the corporate
officer directors shall, at the end of the acquisition period,
acquire 600 Company shares.
2) The corporate officer directors shall retain 600 of any free
shares which may have been allocated to them registered
in their own name, and until the termination of their
employment.
52 employees outside of France will benefit frombonuses based
on the principles and conditions, but in the form of pay and
salaries.
2015 plan:
On December 17, 2015, on the proposal of the Compensation
Committee, and under the authorization of the Extraordinary
General Meeting of December 1
st
, 2015, LISI's Board of Directors
decided to award performance shares to the members of
the Executive Committee and to the members of the main
Management Committees of the LISI Group's three divisions,
subject to the achievement of all or part of the following
performance criteria: Net Asset Value (NAV) of at least
€1,147 million at December 31, 2017. If the Net Asset Value is
between €1,147 million and €1,610 million, the shares would
be allocated in part. If the Net Asset Value is higher than
€1,610 million, the shares would be allocated in full. The
maximum allocated number of shares is 137,770 shares and
concerns 207 employees in France.
As far as the corporate officers are concerned, the Board of
Directors decided:
1) In order to receive at maturity all or part of the performance
shares to which they are entitled, each of the corporate
officer directors shall, at the end of the acquisition period,
acquire 600 Company shares.
2) The corporate officer directors shall retain 500 of any free
shares which may have been allocated to them registered
in their own name, and until the termination of their
employment.
52 employees outside of France will benefit from bonuses based
on the principles and conditions, but in the form of pay and
salaries.
c) Information on the award of performance shares as at
December 31, 2015
The following table details the award of performance shares
outstanding as at December 31, 2015:
Number
Options outstanding at year start
572,725
Options allocated during the period
142,800
Options cancelled during the period
-56,308
Options exercised during the year
-187,792
Options that reached maturity during
the period
0
Options outstanding at year end
471,425
Options granted to date were taken from treasury shares
without giving rise to the issue of new shares.