financial report and registration document 2011 - Groupe SEB

7 Employee
Information on the Company and its share capital
shareholding
7.4. EMPLOYEE SHAREHOLDING
Staff mutual investment fund and direct employee shareholding
At 31 December 2011, employees of the Group’s companies held
915,700 shares as part of a Company savings scheme via an employee
mutual investment fund, amounting to 1.83% of share capital and 2.57% of
Bonus and profi t-sharing schemes
To attract competent and career-oriented employees at all levels and in
addition to its dynamic salary and career management policies, Groupe SEB
has always pursued an active policy of employee shareholding and staff
participation in profi ts, through:
� an exceptional Group profi t-sharing agreement which involves employee
shareholding and profi t sharing with signifi cantly more interesting terms
than legally required. Depending on the year, the exceptional part
represents between two and four times the legal amount of profi t-sharing;
Over the past fi ve years, the sums assigned were as follows:
voting rights. With the addition of directly-owned shares, employees held a
total of 3.09% of share capital and 3.96% of voting rights.
� a Group bonus scheme agreement, based on a scheme stipulated by
law but which is discretionary. This Corporate-level agreement allows
a fair distribution of the sums from the bonus scheme between the
employees of the different companies regardless of their business sector
and performance.
In 2011, charges recognised for bonus and profi t-sharing schemes amounted
to €44.0 million.
(in € millions) 2011 2010 2009 2008 2007 2006
44.0* 50.3* 33.5* 38.2* 33.3 25.7
* Of which €3.3 million corresponded to the employer’s social tax contribution in 2011, €2.9 million in 2010, €1.3 million in 2009, and €0.7 million in 2008.
Stock option and performance share allocation policy
Groupe SEB operates two types of stock option allocation schemes:
� periodically, an allocation of stock options to members of management,
extended to the Group’s different entities, taking account of individual
potential, responsibilities and performance;
� occasionally, a broader allocation with a view to mobilising employees
around a specifi c project.
CHARACTERISTICS OF STOCK OPTIONS
ALLOCATED
The exercise price is equal to the average of the last 20 stock market prices
preceding the date of allocation by the Board. No discount is proposed on
this average price.
The stock options last for eight years. They can only be exercised four years
from their date of allocation.
The stock options granted to the corporate offi cer and to the other members
of the Group Executive Committee are subject to performance-based criteria
related to targets for sales and operating margin. Some of these criteria are
yearly, while others pertain to a four-year period.
CHARACTERISTICS OF THE PERFORMANCE-
RELATED SHARES AWARDED
The shares are awarded to recipients following a two-year vesting period,
subject to performance and continued employment requirements. Recipients
are required to retain the shares for an additional two years.
The performance-based criteria are related to targets for sales and operating
margin.
166 GROUPE SEB Financial Report and Registration Document 2011