Ubisoft 2016 Annual Report Download - page 67

Governance, risks, riskmanagement andinternalcontrol
3
Compensation of corporate offi cers
Yves Guillemot, Chairman and Chief Executive Offi cer
Compensation components due
or granted
Year to March31, 2016
Amounts or
accounting valuation
submitted for a vote Presentation
Performance shares €617,965
(accounting valuation)
Grant of 1,333 preference shares (21stresolution of the General Meeting
of September23, 2015)
1 preference share could entitle the holder to 30 ordinary shares subject
to the achievement of share price performance conditions over 5years
(i.e. a maximum of 39,990 ordinary shares)
Internal performance conditions: achievement of an average EBIT
assessed on the cumulative basis of the separate fi nancial statements
for the fi nancialyears ended March31, 2017, 2018 and 2019. The fi nal
percentage of grant will depend on thresholds to be reached set out
according to a percentage of achievement of the cumulated objectives.
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%
Share price conditions to be met over 5years (end of the retention
period of the preference shares):
♦ increase ≥ 50% of the fl oor price (average price over the 20 trading
days preceding the Board of Directors’ meeting granting the
shares): 1preference share entitles the holder to 30 ordinary shares
♦ if increase <50%: each 1% increase entitles the holder to 0.6
ordinary share
Other long-term compensation
components (redeemable equity
warrants, equity warrants,etc.)
N/A No allocation of long-term compensation components was carried out
Directors’ fees (gross) €40,000
€40k in total
Fixed: 40% is paid in two equal instalments in April (for the period from
April1 to September30) and in October (for the period from October1
to March31)
Variable: 60% paid in March prorated in accordance with the Board
members’ attendance at the meetings held during the fi nancialyear
within the following proportions:
♦ less than 50% attendance at Board meetings: no payment of the
variable component;
♦ between 50% and 75% attendance at Board meetings: payment of
half of the variable component;
♦ over 75% attendance at Board meetings: payment of the entire
variable component.
Benefi ts in kind N/A Yves Guillemot is not eligible for benefi ts in kind
Severance payment N/A No commitment of this type exists
Non-compete indemnity N/A There is no non-compete clause applicable
Supplementary pension scheme N/A Yves Guillemot is not eligible for a supplementary pension scheme
- Registration Document 2016 65