Bureau Veritas: Information related to the elements of compensation of the Chief Executive Officer
December 18 2020 - 11:45AM
Bureau Veritas: Information related to the elements of compensation
of the Chief Executive Officer
PRESS RELEASE
Neuilly-sur-Seine, France – December 18, 2020
Information related to the elements of
compensation of the Chief Executive Officer
published pursuant to the recommendations
of the AFEP-MEDEF Corporate Governance Code
of Listed Corporations
In the framework of its remuneration policy,
Bureau Veritas grants stock options and performance shares to a
number of Group employees around the world as well as to the Chief
Executive Officer. In addition, the Chief Executive Officer
benefits from a specific free share allocation plan dated 22 July
2013, as amended on 23 March 2016 and 17 December 2020
(“Plan”).
Under the Plan, the number of shares delivered
at the end of the vesting period depends on the level of
achievement of the Total Shareholder Return (TSR) during the
vesting period. The plan rules provide for a vesting period
starting on the grant date, i.e. 22 July 2013, until the
announcement of the results for the financial year 2020, which may
be extended until the announcement of the results for the financial
year 2021 in case of a major event during the vesting period that
may significantly reduce the share price.
The Board of Directors, meeting on 17 December
2020, decided in the context of the current global health and
economic crisis generated by Covid-19, in compliance with the
objectives and principles of its remuneration policy as presented
in its report on the remuneration of corporate officers included in
the 2019 Universal Registration Document, to review and adapt the
Plan’s conditions as follows:
- Extend the vesting period by one year, i.e. until the
announcement of the results for the financial year 2021, as
provided for by the Plan in case of major events reducing
significantly the share price;
- In the continuity of its decisions taken in 2020 for the 2018
and 2019 Long Term Incentive Plans, the TSR performance condition
will not be applied for the year 2020.
About Bureau
Veritas
Bureau Veritas is a world leader in laboratory
testing, inspection and certification services. Created in 1828,
the Group has more than 75,000 employees located in more than 1,500
offices and laboratories around the globe. Bureau Veritas helps its
clients improve their performance by offering services and
innovative solutions in order to ensure that their assets,
products, infrastructure and processes meet standards and
regulations in terms of quality, health and safety, environmental
protection and social responsibility.Bureau Veritas is listed on
Euronext Paris and belongs to the Next 20 index.Compartment A, ISIN
code FR 0006174348, stock symbol: BVI.For more information, visit
www.bureauveritas.com, and follow us on Twitter (@bureauveritas)
and LinkedIn.
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ANALYST/INVESTOR CONTACTS |
Laurent Brunelle |
+33 (0)1 55 24 76 09 |
laurent.brunelle@bureauveritas.com |
|
Florent Chaix |
+33 (0)1 55 24 77 80 |
florent.chaix@bureauveritas.com |
- Bureau Veritas_PR_Information related to the CEO
compensation_LTIP
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