Ubisoft 2016 Annual Report Download - page 58

Governance, risks, riskmanagement andinternalcontrol
3Compensation of corporate offi cers
3.2.2.2 Compensation of Executive Vice Presidents
COMPARATIVE BASIS
No comparative study was carried out for the compensation of Executive Vice Presidents.
Summary table of compensation owed or paid to the Executive Vice Presidents for the fi nancial year ended March 31, 2016
Gross fi xed compensation Stock options (accounting valuation) Directors’ fees
Claude Guillemot €62,496 €109,125 €40,000
Michel Guillemot €24,000 €109,125 €40,000
Gérard Guillemot €86,902(1) €109,125 €40,000
(1) Subject to exchange rate being the equivalent of US$97,000
Gross fi xed compensation Performance shares (accounting valuation) Directors’ fees
Christian Guillemot €62,496 €77,420 €40,000
BREAKDOWN
Annual fi xed compensation
Corporate executive offi cer Annual gross compensation
Claude Guillemot €62,496 Compensation unchanged since June1, 2008
Michel Guillemot €24,000 Compensation unchanged since February1, 2011
Gérard Guillemot €86,902(1) Compensation unchanged since January1, 2011
Christian Guillemot €62,496 Compensation unchanged since June1, 2008
(1) Subject to exchange rate being the equivalent of US$97,000
Long-term variable compensation
which for the past fi nancial year was paid as a grant subscription options (SOP) or preference shares (AGAP)
SOP granted during the fi nancialyear ended March31, 2016
Corporate
offi cer
General
Meeting
Board of
Directors Number Price for the fi nancialyear Exercise period Internal performance conditions assessed over 4 fi nancialyears
Claude Guillemot General
Meeting
09/23/15
(23rdresolution)
Board of
Directors
12/16/15
12,500(1) €26.85(2)
From 05/19
until 12/15/20
based on a target average Group EBIT
(the“Target”)
The fi nal percentage will depend on the threshold
reached
if EBIT ≥ Target = 100%
if EBIT ≥ 90% of Target and <Target = 70%
if EBIT ≥ 80% of Target and <90% of Target = 50%
if EBIT <80% = 0%
Michel Guillemot 12,500(1) €26.85(2)
Gérard Guillemot 12,500(1) €26.85(2)
(1) The percentage to be retained in registered form until the end of service has been set at 5% on the basis of a proposal from the Compensation Committee
(2) Subject to the achievement of internal performance conditions assessed over four fi nancialyears
The details of the performance conditions and the expected levels
of achievement, precisely calculated and predefi ned, cannot be
disclosed without revealing confi dential information about the
Group’s strategy over the coming four years.
The cumulative assessment over four years is mainly due to the
specifi c nature of the industry, in view of the highly seasonal
nature of the release of games, R&D investment projects that
span several years, as well as unforeseen events that can affect
the product release schedule. It also encourages decision-making
aimed at creating long-term value, rather than on an annual basis.
- Registration Document 2016
56