2014 Registration Document and Annual Financial Report - page 142

Corporate GOVERNANCE
Interests and compensation
3
The performance conditions under these plans are measured for
each of their first two years, with between 0% and 50% of the
share grants vesting in each of those years depending on the
degree to which the performance conditions have been met. If
the objectives under one performance condition are not met this
may be offset by any outperformance achieved with respect to an
objective applicable under another performance condition for the
same year.The number of shares that vest at the end of the two-year
vesting period is capped at 100% of the number of shares originally
granted and offsetting between the two years is not permitted.
Table 11: Performance shares granted to each executive officer in 2014
Grantee
Grant
date
Number
of shares
granted
Theoretical
value based
on the method
used in the
consolidated
financial
statements
(in euros)
Vesting date
End of
lock-up
period Performance conditions
Sébastien Bazin 06/18/2014 50,000 1,655,000
(1)
06/19/2016 06/19/2018 Actual
versus
budgeted EBIT margin
Actual
versus
budgeted operating cash flow
(excluding acquisitions and disposals)
Degree of completion of budgeted asset
disposals
Accor’s
Total Shareholder Return
(TSR)
relative to that of eight other international
hotel groups
Sven Boinet
06/18/2014 25,000 827,500
(1)
06/19/2016 06/19/2018 Actual
versus
budgeted EBIT margin
Actual
versus
budgeted operating cash flow
(excluding acquisitions and disposals)
Degree of completion of budgeted asset
disposals
Accor’s
Total Shareholder Return
(TSR)
relative to that of eight other international
hotel groups
(1) In accordance with the AFEP/MEDEF Corporate Governance 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.
The 73,125 performance shares granted to the Company’s executive officers in 2014 and which were still valid at the date of this Registration
Document would represent 0.032% of the Company’s capital at December 31, 2014 should they fully vest.
Table 12: Performance shares granted in 2014 to the top ten employee grantees other than executive officers
Number of shares
granted
Performance shares granted in 2014 to the ten employee grantees other than executive officers who received
the largest number of shares
95,500
Achievement levels of performance conditions for outstanding performance share plans
Each year, the Board of Directors places on record the achievement level of the performance conditions applicable under outstanding
performance share plans.
The table below shows the maximum number of shares that may vest and the number of shares that have actually vested based on
the achievement level of the applicable performance conditions (as placed on record by the Board of Directors on February 17, 2015) for
outstanding performance share plans.
Registration Document 2014
140
1...,132,133,134,135,136,137,138,139,140,141 143,144,145,146,147,148,149,150,151,152,...332
Powered by FlippingBook