348
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements | Consolidated
Financial Statements | Statutory Auditors’ Report on the Financial Statements |
Statutory Financial Statements
Note 14. Stock Option Plans and Performance Share Plans
14.2
Performance Share Plans
Grant date
Number of performance share rights granted
Vesting date
(1)
Availability
date
Value of shares
for the calculation
of the social
contribution
Number of performance share rights
Total number of
of which granted to members
of governing bodies
Number of
performance
share rights
cancelled in
2013
Number
of shares
created at
the end of
the vesting
period
Number of
performance
share rights
outstanding at
December 31,
2013 after
adjustments
beneficiaries
performance
share rights
Number of
beneficiaries
Number of
performance
share rights
04/17/12
799 1,818,477
11 276,007 04/18/14 04/19/16
9.80
66,160
3,660
(a)
(b)
1,889,195
07/16/12
1
1,780
-
-
07/17/17 07/19/16
12.40
-
-
1,895
09/27/12
5
97,500
5
97,500 09/29/14 09/30/16
12.42
-
-
103,754
02/22/13
775 2,573,444
8 360,000 02/23/15 02/24/17
11.79
-
-
(c)
2,633,483
05/13/13
9
8,190
-
-
05/14/15 05/15/17
13.58 102,378
-
8,720
06/18/13
2
26,390
-
-
06/19/15 06/20/17
11.87
-
-
26,390
07/22/13
5
47,816
-
-
07/23/15 07/24/17
12.35
-
-
(d)
47,816
10/21/13
3
56,000
1
20,000 10/22/15 10/23/17
15.64
-
-
56,000
12/11/13
1
70,000
1
70,000 12/14/15 12/15/17
14.33
-
-
70,000
Total
168,538
3,660
4,837,253
(1)
First day of quotation at the end of a 2-year acquisition period.
(a)
Includes 53,413 rights to performance shares, after adjustments, granted to US and Brazilian resident beneficiaries to be recorded in an account
in 2016.
(b)
Includes 279,904 rights to performance shares, after adjustments, granted to US, British and Brazilian resident beneficiaries to be recorded in an
account in 2016.
(c)
Includes 487,755 rights to performance shares, after adjustments, granted to US, British and Brazilian resident beneficiaries to be recorded in an
account in 2017.
(d)
Includes 17,816 rights to performance shares, after adjustments, granted to British and Brazilian resident beneficiaries to be recorded in an
account in 2017.
The definitive grant of performance shares for plans granted in 2012
will be effective upon the satisfaction of the following performance
conditions: an internal indicator (70%) determined by an EBITA margin
rate, which will be measured as of December 31, 2013 on a cumulative
basis including the 2012 and 2013 fiscal years; and external indicators
(30%) determined by the performance of Vivendi shares between
January 1, 2012 and December 31, 2013, as compared to two stock
indices: Europe Stoxx 600 Telecommunications (70%) and the value of a
portfolio of Media stock (30%).
The definitive grant of performance shares for plans granted in 2013
will be effective upon the satisfaction of the following performance
conditions: an internal indicator (70%) determined by an EBITA margin
rate, which will be measured as of December 31, 2014 on a cumulative
basis including the 2013 and 2014 fiscal years; and external indicators
(30%) determined by the performance of Vivendi shares between
January 1, 2013 and December 31, 2014, as compared to two stock
indices: Europe Stoxx 600 Telecommunications (70%) and the value of a
portfolio of Media stock (30%).
The definitive grant of performance shares will be effective upon
achievement of the performance conditions, as assessed at the end of a
2-year acquisition period: 100% of the performance share granted will
vest if the weighted total of the three indicators reaches or exceeds
100%; 50% of the performance share granted will vest if the weighted
total of the indicators reaches the applicable value thresholds; and no
shares will vest if the weighted total of the three indicators is lower
than the applicable value thresholds. Performance shares must be
retained by their holders for an additional two-year period following
the vesting date.
