Saint Gobain - Registration document 2016

274 / 330

9 FINANCIAL AND ACCOUNTING INFORMATION
3. Compagnie de Saint-Gobain annual financial statements (parent company)
274 SAINT-GOBAIN - REGISTRATION DOCUMENT 2016
2016 will be issued/delivered, except in the case of early release following the grantee’s death or disability, along with the
The following table shows the expected dates when shares under the four performance share plans outstanding at December 31,
service and performance conditions remaining to be fulfilled:
Grant date
inception
granted at
Number of rights
of Plan deliveries
Early
12/31/2016 *
Outstanding
rights at
Delivery date
11/21/2017 11/20/2018 11/26/2019 11/24/2020 shares
Type of
11/21/2013 541,655 550 541,105 541,105 existing
11/20/2014 530,240 450 529,790 529,790 existing
11/26/2015 500,910 500,910 500,910 existing
11/24/2016 1,231,320 1,231,320 1,231,320 existing
TOTAL 2,804,125 1,000 2,803,125 541,105 529,790 500,910 1,231,320
Subject to fulfillment of the service and performance conditions applicable to each plan. *
Performance unit plans 10.6
conditions were set up every year between 2012 and 2015, for
certain management-grade employees and senior managers
of the Group in France. These plans do not give rise to the
delivery of shares, but entitle grantees to receive cash
compensation deferred over the long term (exercise period
between four and ten years after the grant date), the amount
of which will be determined by reference to the Company’s
share price.
Performance unit plans subject to service and performance
was set up in 2016, since all beneficiaries received rights to
performance shares (see above).
No long term payment plan in the form of performance units
In 2016, 345,431 units became exercisable under the 2012
plan, and 190,969 units under that plan lapsed, including
180,038 because the related performance conditions was only
partly met.
The following table shows historical data of performance unit
plans in the process of vesting at December 31, 2016.
Grant date
Number of performance units granted
at inception of plan Exercised early at 12/31/2016 *
Performance units outstanding
11/21/2013 588,535 17,750 570,785
11/20/2014 598,400 1,350 597,050
11/26/2015 556,340 556,340
TOTAL 1,743,275 19,100 1,724,175
Subject to fulfillment of the service and performance conditions applicable to each plan. *
Savings Plan (PEG)
Compagnie de Saint-Gobain Group 10.7
The Group Savings Plan (“PEG”) is an employee stock purchase
plan open to all Group employees in France and most other
countries where the Group is present. Eligible employees must
have completed a minimum of three months’ service with the
Group. Eligible employees are able to invest in Saint-Gobain
shares at a preferential subscription price. These shares are
held either directly or through the employee saving plan’s
authorization for setting the subscription price to the Chief
Executive Officer of Compagnie de Saint-Gobain. It
corresponds to the average of the opening prices for the
Saint-Gobain share on Euronext Paris over the 20 trading days
preceding the date of the decision, subject to a 20% discount,
in accordance with applicable laws, the Shareholders’ Meeting
resolutions and the deliberations of the Board of Directors.
occurrence of certain events. The Board of Directors delegates
mutual funds, depending on local legislation, and are subject to
a mandatory five or ten years lock-up, except following the
of €136 million (€144 million in 2015).
subscription price of €29.42 (4,449,939 shares at an average
price of €32.44 in 2015), representing a share capital increase
issued to employees under the PEG at an average
In 2016, 4,653,810 new shares with a par value of €4 were