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Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 20. Share-based compensation plans
Note 20.
Share-based compensation plans
20.1.
Impact on the Consolidated Statement of Earnings
(in millions of euros)
Note
Year ended December 31,
2014
2013
Charge/(Income)
Stock options, performance shares and bonus shares
9
15
Employee stock purchase plans
-
8
Stock Appreciation Rights (SAR)
-
1
Vivendi stock instruments
20.2
9
24
UMG equity unit plan
20.3
(17)
5
Charge/(Income) related to share-based compensation plans
(8)
29
Equity-settled instruments
9
23
Cash-settled instruments
(17)
6
20.2.
Plans granted by Vivendi
Vivendi grants several share-based compensation plans each year based
on Vivendi shares to officers and employees of the group: stock option
plans (without discount), performance share plans, as well as a capital
increase reserved for employees and retirees (classic and leveraged
plans).
In 2013, the Supervisory Board decided, upon the recommendation of
the Management Board and after the advice of the Human Resources
Committee, to stop granting stock option plans. In addition, in 2013,
Vivendi put into place a capital increase reserved for employees and
retirees (employee stock purchase and leveraged plans).
In 2014, due to the changes in the scope already completed or in
progress, Vivendi did not grant any annual plan to its employees and only
granted 380,000 performance shares to a member of the Management
Board and certain Executive Officers of its subsidiaries.
The accounting methods applied to value and recognize these granted
plans are described in Note 1.3.10. More specifically, the risk-free
interest rate applied is the rate of French fungible treasury bonds or
“
Obligations Assimilables du Trésor
” (OAT) with a maturity corresponding
to the expected term of the instrument at the valuation date, and the
expected dividend yield at grant date is based on Vivendi’s dividend
distribution policy.
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Annual Report 2014