Compensation

Information related to the remuneration for the executive corporate officers of the company

(information published on 9 April 2018 and updated on 26 June 2018
in accordance with AFEP and MEDEF recommendations)

At its meeting of 9 April 2018, after considering the recommendations of the appointments and compensation committee, the Board of Directors took the following decisions, in compliance with the current Company’s compensation policy, as regards the remuneration of Mr Hervé Poncin, Chief Executive Officer.

 

Variable compensation for 2017

Based on the performance conditions it had set on 7 June 2017 and their fulfilment, the Board of Directors set Mr Poncin’s variable compensation for the period from 7 June to 31 December 2017 to 139,275 euros, i.e. 47% of its target amount.

The shareholders’ meeting held on 23 May 2018 has approved the elements of remuneration allocated to Mr Poncin for 2017 and the above mentioned variable compensation has then been paid to Mr Poncin.

 

Fixed compensation and variable compensation for 2018

The Board of Directors decided on 9 April 2018 to maintain Mr Poncin’s fixed compensation at 650,000 euros for 2018.

The Board also decided to maintain Mr Poncin’s 2018 variable compensation for 2018 at a maximum of 80% of its fixed compensation, i.e. 520,000 euros, if all the performance conditions are met and has set those performance conditions as follows:

Quantifiable conditions (60%)    
2018 group’s EBITDA (compared to 2018 budget):30%
Group’s debt at 31 Décember 2018 (compared to 2018 budget):20%
2018 Group’s turnover (compared to 2018 budget):10%

Qualitative conditions (40%)    
Satisfactory evolution of the stock market price:20%
Growth of Packaging and Visual Communication activities’ turnovers:20%

The Board also confirmed its previous decision of not awarding Mr Pascal Lebard any compensation in respect of his duties as Chairman of the Board of the Company.

 

Award of Antalis free shares

The Board of Directors also decided on 23 May 2018, on the compensation committee’s recommendation and following the authorization granted for this purpose by the shareholders’ meeting of 23 May 2018, to award Antalis free shares to Mr Poncin under a performance share plan put in place for the benefit of key group executives.

Mr Poncin has been awarded a potential maximum number of 108,000 shares, representing 0.15% of the share capital.  These shares might be awarded to him in 2020 subject to both a condition of presence and some performance conditions linked to the Antalis Long Range Plan and the share price evolution.  Mr Poncin shall hold 20% of the total number of shares awarded to him until the end of his term of office as CEO.

 

Read the information related to the remuneration published on 12 June 2017
Read the 2017 Remuneration policy