NATIXIS - 2018 Registration document and annual financial report

5 FINANCIAL DATA

Consolidated financial statements and notes

HEADCOUNT, PAYROLL COSTS, COMPENSATION AND EMPLOYEE

NOTE 12

BENEFITS

Headcount 12.1

12.2.1 Short-term employee benefits This item includes wages and salaries paid within twelve months of the end of the reporting period in which the related services were rendered, employee incentives and profit-sharing, meeting the definition of short-term benefits under IAS 19R “Employee Benefits”. In accordance with this standard, short-term benefits are expensed in the period in which the employees render the services giving rise to such benefits. Deferred compensation 12.2.2 Share-based employee retention and performance recognition plans Every year since 2010, Natixis has granted share-based payment plans to certain categories of staff. The accounting treatment of these plans is described in Note 6.17. Regarding the plan approved by the Board of Directors on February 13, 2018, as these allocations had not yet formally been carried out at the reporting date, these expenses have been estimated using best available estimates of inputs at the reporting date. Coface has had share-based compensation plans in place since 2014. As the impact of these plans is not material for Natixis at the consolidated level, the characteristics of these plans are not outlined in the paragraphs that follow.

31/12/2018

31/12/2017

Number

Headcount (a) 20,898 Full-time equivalent current employees of Natixis at the reporting (a) date (including the employees of entities restated under IFRS 5 at December 31, 2018). 21,652

The breakdown of the headcount is presented in Note 6.6.1 of Chapter [6], “Non-financial performance report”.

Compensation and employee benefits 12.2 Compensation and employee benefits include wages and salaries net of rebilled expenses paid within twelve months of the end of the reporting period in which the services were rendered, deferred cash-settled or equity-settled variable compensation, employee incentives and profit-sharing for the period, the cost of pensions, other employee benefit obligations such as long-service awards and benefits related to capital increases reserved for employees. Payroll costs totaled €4,061 million at December 31, 2018, versus €3,946 million at December 31, 2017.

Long-term cash-settled payment plans indexed to the Natixis share price

Number of units acquired by beneficiaries

Fair value of the free share at the valuation date (in euros)

Initial number of shares granted (*)

Year of plan Expenses

Grant date

Acquisition dates

October 2016 October 2017 October 2018 March 2018 March 2019 March 2019 March 2020 March 2020 March 2021 March 2021 March 2022

1,576,403 1,449,399 -

2014 Plan

18/02/2015

4,493,016

6.37

2015 Plan

10/02/2016

6,084,435

6.11

2016 Plan

10/04/2017

2,835,311

5.47

2017 Plan

23/02/2018

2,660,487

5.34

988,570 1,886,095

2018 Plan

26/02/2019

3,260,945

2,72

The expected number of units at the vesting date is funded by equity swaps. *

Payments under these plans are subject to presence and performance criteria.

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Natixis Registration Document 2018