2014 Registration Document and Annual Financial Report - page 138

Corporate GOVERNANCE
Interests and compensation
3
3.5.2 DIRECTORS’ AND EMPLOYEES’ INTERESTS
Accor regularly sets up stock-based incentive plans for executives, as well as for senior and middle managers. The terms and conditions
of the plans are determined by the Board of Directors, which then gives the Chairman and Chief Executive Officer the necessary powers
to carry out the grants. In accordance with the AFEP/MEDEF Corporate Governance Code, the plans set up in 2014 were launched during
the same period as in previous years.
Stock option plans
Stock option plans set up in 2014
At its meeting on February 19, 2014 the Board of Directors decided not to set up any stock option plans in 2014.
Table 5: Stock options granted to executive officers in 2014
Grantee
Plan number
and date
Type of
options
Theoretical value based on the
method used in the consolidated
financial statements
(in euros)
Number
of options
Exercise
price
(in euros)
Exercise
period
Sébastien Bazin
_
_
_
_
_
_
Sven Boinet
_
_
_
_
_
_
Achievement levels of performance conditions
for outstanding stock option plans
Each year, the Board of Directors places on record the achievement
level of the performance conditions applicable under the performance
stock option plans set up for executive officers and other members
of the Executive Committee. Consequently, at its meeting on
February 17, 2015, the Board placed on record the degree to which
the performance condition for the plans outstanding in 2014 had
been met. The Board’s assessment related to a single external
performance condition based on Accor’s TSR relative to that of
eight other international hotel groups, as described in note 26.3 to
the consolidated financial statements.
The achievement level of this performance condition is measured
for each of the four years of the vesting periods under the plans,
with between 0% and 37.5% of the options originally granted
depending on the degree to which the condition has been met.
However, the total number of options that may be exercised at
the end of the four-year vesting period is capped at 100% of the
number of options originally granted.
Table 6: Achievement levels in 2014 of the performance condition for stock option plans
Plan Grant date
Performance condition
Achievement
level
Number of
options vested
in 2014
Maximum number of
options that could
have vested in 2014
Plan 24 April 4, 2011
Accor’s TSR relative to that of eight
other international hotel groups
6
th
9,962
19,922
Plan 26 March 27, 2012
Accor’s TSR relative to that of eight
other international hotel groups
6
th
0
17,766
Plan 27 September 26, 2013
Accor’s TSR relative to that of eight
other international hotel groups
(1)
8
th
0
15,000
(1) Calculated over the period from September 1, 2013 to August 31, 2014.
Registration Document 2014
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