Ubisoft 2014 Annual Report Download - page 90

Management Report
2014
85
4.5.2 ELEMENTS OF COMPENSATION OF CORPORATE OFFICERS
SUBMITTED TO THE SHAREHOLDERS FOR CONSULTATION
Yves Guillemot, Chairman and Chief Executive officer
Compensation components
due or granted
Financial year March 31
st
, 2014
Amounts or
accounting
valuation
Presentation
Fixed gross annual compensation
500,004€
Compensation in force since June 1, 2008
Annual variable compensation
(1)
N/A
The principle of an annual variable compensation is envisaged for
financial year 2015
(1)
Deferred variable compensation
N/A
The principle of a deferred variable compensation is not envisaged
Multi-annual variable
compensation
N/A
The principle of a multi-annual variable compensation is not
envisaged
Annual exceptional compensation
(1)
N/A
The principle of an annual exceptional compensation is envisaged
for financial year 2015
(1)
Stock options
174,000 €
(accounting
valuation)
Allocation of 60,000 stock options (18
th
resolution of the combined
general meeting of September 24, 2012)
Subscription price : 11.92€ without discount
100% of the grant is subject to the completion of performance
conditions based on an objective of average EBIT appraised on the
basis of the financial accounts ending March 31, 2015, March 31,
2016, March 31, 2017 and March 31, 2018. The final percentage of
grant will depend on thresholds to be reached set out according to
a percentage of achievement of the cumulated objectives.
25% of the allocation is subject to the completion of cumulative
collective performance conditions
This allocation corresponds to 0.06% of the share capital as of
March 31, 2014
Performance shares
N/A
No allocation of performance shares was carried out during the
financial year 2014
Other long-term compensation
components (redeemable equity
warrants, equity warrants….)
N/A
No allocation of long-term compensation components was carried
out during the financial year 2014
Attendance fees
50,000€
(2)
(amount
paid or to be
paid)
40K€ (overall amount)
Half of the fixed portion is paid in April (for the period from April 1
to September 30) and the other half in October (for the period
from October 1 to March, 31)
The variable portion is paid in March prorated in accordance with
the Board members’ attendance to the meetings held during the
financial year within the following proportions :
 Attendance to the meetings less than 50% : no payment of the
variable portion
 Attendance to the meetings between 50% and 75% : payment of
a half of the variable portion
 Attendance to the meetings more than 75% : full payment of the
variable portion i.e. the maximum amount that can be grated for
the variable portion
Benefits in kind
N/A
Yves Guillemot is not entitled to benefits in kind
Severance payment
N/A
No commitment of this type exist
Non-compete indemnity
N/A
There is no non-compete complete clause applicable
Supplementary pension scheme
N/A
Yves Guillemot is not eligible for a supplementary pension scheme
(1)
The principle of an annual variable compensation based on qualitative and quantitative criteria and of an exceptional one
was decided by the Board of Directors during its meeting held on March 17, 2014 on the recommendation of the
Compensation committee. The conditions required to implement them will be defined at a future Board meeting further to
the recommendation of the Compensation committee.
(2)
Transition year : Decision of the Board of Directors’ meeting held on November 12, 2013 to amend the dates of
payment to have them corresponding with the closing dates for the sake of coherence and readability for the
shareholders.