At the Shareholders’ General Meeting of 12 April 2022, in accordance with Article L.22-10-34 II of the French Commercial Code, shareholders will be asked to vote on a draft resolution relating to the items of remuneration paid in 2021 or granted in respect of this same year to Mr Huillard, Chairman and Chief Executive Officer.
| Item of remuneration | Amount | Observations |
|---|---|---|
| Fixed remuneration | Fixed remuneration Amount €1,200,000 |
Fixed remuneration Observations Annual gross fixed remuneration in respect of the 2021 financial year set at €1,200,000 by the Board at its meetings of 7 February and 17 April 2018 for the 2018-2022 period. |
| Variable remuneration | Variable remuneration Amount €1,862,400 |
Variable remuneration Observations Gross variable remuneration in respect of the 2021 financial year, as approved by the Board at its meeting of 3 February 2022, as explained in paragraph 4.2.1.1, pages 147 and 148, which is payable in 2022. |
| Annual deferred variable remuneration | Annual deferred variable remuneration Amount n/a |
Annual deferred variable remuneration Observations Not applicable. |
| Multi-year variable remuneration | Multi-year variable remuneration Amount n/a |
Multi-year variable remuneration Observations Not applicable. |
| Long-term incentive plan set up in 2021 | Long-term incentive plan set up in 2021 Amount €2,429,976 |
Long-term incentive plan set up in 2021 Observations At its meeting of 8 April 2021, the Board granted Mr Huillard an award of 30,900 VINCI shares, which will vest on 8 April 2024, subject to the performance conditions described in paragraph 5.3.2, page 154. |
| Remuneration as a Board member | Remuneration as a Board member Amount €13,750 |
Remuneration as a Board member Observations Mr Huillard does not receive remuneration as a Board member from VINCI SA, but he has received remuneration as a Board member from a foreign subsidiary, the amount of which will be deducted from the variable portion of his remuneration. |
| Exceptional remuneration | Exceptional remuneration Amount n/a |
Exceptional remuneration Observations Not applicable. |
| Benefits in kind | Benefits in kind Amount €5,574 |
Benefits in kind Observations Mr Huillard has the use of a company car. |
| Amount | Observations | |
|---|---|---|
| Severance pay | Severance pay Amount No payment |
Severance pay Observations Mr Huillard is eligible for severance pay in the event that the Company terminates his appointment before its normal expiry in 2022. This commitment is halved if the termination occurs during the last year of the term of office. Severance pay is subject to performance conditions. The related commitment was authorised by the Board at its meeting of 7 February 2018 and approved at the Shareholders’ General Meeting of 17 April 2018 (Eleventh resolution). |
| Non-competition payment | Non-competition payment Amount n/a |
Non-competition payment Observations Mr Huillard is not eligible for any non-competition payment. |
| Supplementary pension plan | Supplementary pension plan Amount No payment |
Supplementary pension plan Observations Mr Huillard is eligible for coverage under the supplementary defined benefit pension plan (known in France as an “Article 39” plan) set up at the Company and which has been closed to new members since July 2019, under the same conditions as those applicable to the category of employees to which he is deemed to belong for the determination of employee benefits and other ancillary items of remuneration. Mr Huillard is also eligible for coverage under the mandatory defined contribution pension plan set up by the Company for its executives and other management-level personnel. The related commitment was authorised by the Board at its meeting of 7 February 2018 and approved at the Shareholders’ General Meeting of 17 April 2018 (Tenth resolution). |
VINCI SA and its subsidiary VINCI Management have set up a defined benefit pension plan for their senior executives, with the aim of guaranteeing them a supplementary annual pension. The table below presents the main features of this plan, which is now closed to new members in application of new regulatory provisions:
| Type of disclosure required by Decree 2016-182 of 23 February 2016 | Information |
|---|---|
| Name of the obligation | Name of the obligation Information Defined benefit pension plan set up on 1 January 2010 and closed to new members from 4 July 2019 |
| Applicable legal provisions | Applicable legal provisions Information Article 39 of the French Tax Code |
| Eligibility requirements for beneficiaries | Eligibility requirements for beneficiaries Information At least 10 years’ service within the Group |
| Beneficiaries | Beneficiaries Information Employees of VINCI or VINCI Management having the status of senior executive (“cadre dirigeant”) as defined by Article L.3111-2 of the French Labour Code |
| Conditions for receiving pension payments | Conditions for receiving pension payments Information
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| Method for determining the remuneration reference amount | Method for determining the remuneration reference amount Information Monthly average of the gross fixed and variable remuneration received over the last 36 months of activity multiplied by 12 |
| Vesting formula | Vesting formula Information The beneficiary’s gross pension is determined using the following formula: Gross pension = 20% R1 + 25% R2 + 30% R3 + 35% R4 + 40% R5, where:
|
| Pension payment limit | Pension payment limit Information The pension payment limit is 8 times the annual French social security ceiling, equivalent to €329,088 at 1 January 2021. |
| Funding of benefits | Funding of benefits Information The Group uses an insurance contract to externalise its pension plan, to which VINCI and VINCI Management make contributions. |
