2013 Registration document and annual financial report - page 145

Registration Document 2013
143
Corporate Governance
3
Interests and Compensation
Analysis of directors’ and officers’ compensation
Analysis of compensation paid to executive officers
The following tables provide a summary of the total gross compensation and benefits paid by Accor to its executive officers for 2012
and 2013 as well as the stock options and performance shares granted to these executive officers in those years.
Table 1: Compensation, stock options and performance shares granted to each executive officer in 2012 and 2013
Mr. Hennequin
Chairman and Chief Executive Officer until April 23, 2013
2012
2013
Compensation for the year (see Table 2 for details)
1,817,277
4,268,803
Value of stock options granted during the year (see Table 6 for details)
(1)
504,845
N/A
Value of performance shares granted during the year (see Table 10 for details)
(2)
424,110
422,000
TOTAL
2,746,232
4,690,803
Mr. Caillère
President and Chief Operating Officer until April 23, 2013
Chief Executive Officer from April 23 to August 27, 2013
2012
2013
Compensation for the year (see Table 2 for details)
997,649
3,188,844
Value of stock options granted during the year (see Table 6 for details)
(1)
301,400
N/A
Value of performance shares granted during the year (see Table 10 for details)
(2)
253,200
263,750
TOTAL
1,552,249
3,452,594
Mr. Bazin
Chairman and Chief Executive Officer since August 27, 2013
2012
2013
Compensation for the year (see Table 2 for details)
N/A
838,566
Value of stock options granted during the year (see Table 6 for details)
(1)
N/A
252,000
Value of performance shares granted during the year (see Table 10 for details)
(2)
N/A
N/A
TOTAL
N/A
1,090,566
Mr. Boinet
Deputy Chief Executive Officer since December 2, 2013
2012
2013
Compensation for the year (see Table 2 for details)
N/A
50,000
Value of stock options granted during the year (see Table 6 for details)
(1)
N/A
N/A
Value of performance shares granted during the year (see Table 10 for details)
(2)
N/A
N/A
TOTAL
N/A
50,000
(1) Stock options may be exercised only if the grantee is still a member of the Group on the exercise date and, in some cases, if the applicable performance conditions
are met. In accordance with the AFEP/MEDEF Corporate Governance Code for listed companies, stock options are measured at their theoretical value at the grant
date rather than at the value of the compensation received. This theoretical value was determined using the Black & Scholes option pricing model for the stock
options granted under the March 27, 2012 plan and the Monte-Carlo option pricing model for the performance stock options granted under the March 27, 2012 and
September 26, 2013 plans.
(2) In accordance with the AFEP/MEDEF Code, performance shares are measured at their theoretical value - corresponding to Accor’s opening share price on the grant
date less the present value of unpaid dividends - rather than at the value of the compensation received. Performance shares are forfeited if the grantee leaves the
Group before the shares vest or if the performance conditions are not met. Further details on performance shares granted to Accor’s executive officers and the
applicable vesting dates are provided in Table 10 on page 153.
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