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| 2013 ANNUAL REPORT | PRYSMIAN GROUP
On 30 November 2006, the Company’s shareholders approved
a stock option plan which was dependent on the flotation of
the Company’s shares on Italy’s Electronic Equities Market
(MTA) organised and managed by Borsa Italiana S.p.A.
The plan was reserved for employees of companies in the
Prysmian Group.
Each option entitled the holder to subscribe to one share at a
price of Euro 4.65.
As at 31 December 2013 the options were all fully vested and
exercised.
Long-term incentive plan 2011-2013
On 14 April 2011, the Ordinary Shareholders’ Meeting of
Prysmian S.p.A. had approved, pursuant to art. 114-bis of
Legislative Decree 58/98, a long-term incentive plan for
the period 2011-2013 for employees of the Prysmian Group,
including certain members of the Board of Directors of
Prysmian S.p.A., and granted the Board of Directors the
necessary authority to establish and execute the plan. The
plan’s purpose was to incentivise the process of integration
following Prysmian’s acquisition of the Draka Group, and was
conditional upon the achievement of performance targets, as
detailed in the specific information memorandum.
The plan originally involved the participation of 290(*)
employees of group companies in Italy and abroad viewed
as key resources, and divided them into three categories,
to whom the shares would be granted in the following
proportions:
• CEO: to whom 7.70% of the rights to receive Prysmian S.p.A.
shares were allotted.
• Senior Management: this category originally had 44
participants who held key positions within the Group
(including the Directors of Prysmian S.p.A. who held
the positions of Chief Financial Officer, Energy Business
Executive Vice President and Chief Strategy Officer), to
whom 41.64% of the total rights to receive Prysmian shares
were allotted.
• Executives: this category originally had 245 participants
from the various operating units and businesses around
the world, to whom 50.66% of the total rights to receive
Prysmian shares were allotted.
INCENTIVE PLANS
Stock option plan 2007-2012
CONSOLIDATED FINANCIAL STATEMENTS >
DIRECTORS’ REPORT
(*) Following movements since the plan’s issue, the number of plan participants amounted
to 268 at 31 December 2013.
