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REPORTS OF THE BOARD OF DIRECTORS
8
SPECIAL REPORT ON THE ALLOCATION OF FREE SHARES AND PERFORMANCE SHARES
8.3
SPECIAL REPORT ON THE ALLOCATION OF FREE SHARES
AND PERFORMANCE SHARES
8.3.1
FREE SHARE AND PERFORMANCE
SHARE AWARDS (ARTICLE L. 225-197-4
OF THE FRENCH COMMERCIAL CODE)
GENERAL MEETING OF 24 MAY 2016
To the shareholders,
In accordance with the provisions of Article L. 225-197-4 of the French
Commercial Code, we have prepared the following report on free
shares and/or performance shares awarded (i) to officers and certain
employees of the Company, and (ii) by Assystem subsidiaries.
8.3.2
FREE SHARE AND PERFORMANCE SHARE
AWARDS DECIDED BY THE COMPANY’S
MANAGEMENT BOARD
In the year ended 31 December 2011
The Management Board, using the authorisation granted by the
Extraordinary General Meeting of 5 May 2010, in its 15
th
resolution:
●
awarded 20,500 performance shares to salaried Group employees
at its meeting of 13 April 2011;
●
awarded 43,360 performance shares to salaried Group employees
at its meeting of 28 October 2011;
●
awarded 108,900 performance shares to salaried employees
of Group companies in France and abroad at its meeting of
29 November 2011.
The vesting periods under these free share plans ended on 14 April
2013, 29 October 2013 and 30 November 2013 respectively and
the applicable lock-up periods ended on 14 April 2015, 29 October
2015 and 31 March 2016 respectively.
In the year ended 31 December 2012
The Management Board, using the authorisation granted by the
Extraordinary General Meeting of 5 May 2010, in its 15
th
resolution:
●
awarded 60,000 performance shares to members of the Company’s
Management Board (with the exception of the Chairman) at its
meeting of 13 March 2012. These shares will vest after a period of
three years subject to the beneficiaries still forming part of the Group
at that date and to the achievement of the applicable performance
conditions (with each condition accounting for one third of the vested
shares).
●
awarded 1,000 free shares to salaried employees of Group
companies in France at its meeting on 13 March 2012
(1)
;
●
awarded 46,393 performance shares to salaried employees of the
Group at its meeting on 7 November 2012
(1)
.
The vesting periods under these plans ended on 14 March 2015 and
8 November 2014 respectively and the applicable lock-up periods
will end on 8 November 2016 and 14 March 2017 respectively.
In the year ended 31 December 2013
No free shares or performance shares were awarded in 2013.
In the year ended 31 December 2014
The Management Board, using the authorisation granted by the
Extraordinary General Meeting of 22 May 2013, in its 19
th
resolution:
●
awarded 9,000 free shares to salaried employees of Group
companies in France at its meeting on 24 March 2014
(1)
;
●
awarded 6,000 free shares to salaried employees of Group
companies in France at its meeting on 12 May 2014
(1)
.
(1) These free shares will only vest if the beneficiary still forms part of the Group at the vesting date.
185
ASSYSTEM
FINANCIAL REPORT
2015