1owHYXa

Friday, February 19, 2016
Note 18
Share-based compensation plans
18.1 Plans granted by Vivendi
18.1.1 Equity-settled instruments
Transactions on outstanding instruments, which have occurred since January 1, 2014 were as follows:
na: not applicable.
Number of outstanding
stock options
Stock options
a. As of the stock option exercise dates, the weighted average price for Vivendi shares was €22.14 (compared to €19.68 for stock options
exercised in 2014).
b. At its meeting held on February 27, 2015, after review by the Governance, Nominating and Human Resources Committee, the Supervisory
Board approved the level of satisfaction of objectives set for the cumulative fiscal years 2013 and 2014 for performance share plans
granted in 2013. It confirmed that not all the criteria had been met for fiscal year 2014. The final grant of the 2013 performance share
plans represents, depending on the subsidiaries of the group, between 62% and 80% of the initial grant. Consequently, 828,127 rights to
performance shares granted in 2013 were cancelled. In 2014, the Supervisory Board confirmed a final grant at 88% of the 2012 plans.
Consequently, among the instruments cancelled in 2014 were 335,784 stock options and 239,207 performance shares granted in 2012.
c. In accordance with legal requirements, the number and strike price of stock options, as well as the number of performance shares were
adjusted to take into account the impact for the beneficiaries of the distribution on June 30, 2014 of an ordinary distribution of €1 per
share from additional paid-in capital. This adjustment had no impact on share-based compensation expenses related to the relevant
stock option and performance share plans.
d. The total intrinsic value of outstanding stock options was €57 million.
Weighted average strike
price of outstanding stock
options
e. The weighted-average remaining period before delivering performance shares was 2.2 years.
Performance shares
Number of outstanding
performance shares
(in thousands) (in euros) (in thousands)
Balance as of December 31, 2013 52,835 19.7 5,344
Granted - na 380
Exercised (11,264) (a) 17.5 (1,600)
Forfeited (717) 17.5 na
Cancelled (b) (571) 13.7 (440)
Adjusted (c) 2,439 19.1 183
Balance as of December 31, 2014 42,722 19.3 3,867
Granted - na 1,566
Exercised (10,882) (a) 18.4 (1,968)
Forfeited (481) 19.0 na
Cancelled (28) 11.8 (920) (b)
Balance as of December 31, 2015 31,331 (d) 19.7 2,545 (e)
Exercisable as of December 31, 2015 31,331 19.7 -
Acquired as of December 31, 2015 31,331 19.7 650
Please refer to Note 15 for the potential impact on the share capital of Vivendi SA of the outstanding stock options and performance shares.
Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2015 Vivendi /79