At its meeting on Thursday, 25 February 2021, after hearing the Compensation Committee’s recommendations, the Board of Directors of Sopra Steria Group noted that, in accordance with the targets set, the Chief Executive Officer’s annual variable compensation (AVC) for financial year 2020 breaks down as follows:

the Chief Executive Officer’s annual variable compensation (AVC) for financial year 2020

 

The Board of Directors therefore set the total amount of €97,500.For information:

  • The criteria were applied as planned, notwithstanding the effects of the public health crisis in the second half of the year and those of the cyberattack that targeted the Group in October 2020 (targets for financial year 2020 were set by the Board of Directors at its meeting on 28 July 2020).
  • Achievement of the qualitative criteria was assessed by the Compensation Committee. Both the introduction of the role of COO (Chief Operating Officer) and the contribution toward the Group’s goal of becoming carbon-neutral were deemed to have been fully achieved. It should be noted that over the course of the financial year, the Group announced its commitment to achieve “zero net emissions” by 2028.

The Board of Directors also took note of the performance of the LTI C plan as of 16 February 2018:

  • The overall performance measured by the average rate of achievement of targets set for the three financial years (2018, 2019 and 2020) with respect to consolidated organic growth, consolidated operating profit on business activity (as a percentage of revenue) and consolidated free cash flow was 63.5%.
  • Consequently, subject to the condition of continued employment until 31 March 2021, 1,905 Sopra Steria Group shares will vest to Vincent Paris as of 1 April 2021. The rules of the plan stipulate that Vincent Paris must retain 50% of the performance shares allocated to him throughout his entire term of office.

Lastly, the Board of Directors, upon the recommendation of the Compensation Committee, decided to calculate the variable compensation attributable to the Chief Executive Officer in respect of financial year 2021 as follows:

 

the variable compensation attributable to the Chief Executive Officer in respect of financial year 2021

 

In general, the applicable quantifiable target values are not publicly disclosed for confidentiality reasons and so as not to interfere with financial communications.