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23

Total’s Board approves ambitious plan to increase employee shareholding

In line with resolutions adopted at the May 24, 2016, Annual Shareholder Meeting, Total’s Board of Directors approved on July 27, 2016, two measures to develop the employee shareholding within the Group.

Total’s Board approves ambitious plan to increase employee shareholding Total’s Board approves ambitious plan to increase employee shareholding

In line with resolutions adopted at the May 24, 2016, Annual Shareholder Meeting, Total’s Board of Directors approved on July 27, 2016, two measures to develop the employee shareholding within the Group:

 

- Annual capital increases reserved for employees: from 2017, with Board approval, Total employees will be offered the possibility to purchase company shares at a discount of up to 20% every year instead of every two or three years. In addition, in 2017, for the first five shares purchased by an employee, they will receive a matching grant of five free shares.

 

- The number of free performance shares awarded in 2016 is increased by close to 20% from 2015. In 2016, performance shares are being awarded to more than 10,000 non-executive employees of the Group, with an annual renewal rate of around 40% of recipients and the first 150 shares are awarded without performance conditions. These performance shares vest after three years and must be held for an additional two years after vesting.

 

«Developing employee share ownership is, in our view, the best response to the debate regarding shareholder return and employee compensation. It aligns the interests of both with the collective interests of the company,» said Patrick Pouyanné, Chairman and CEO of Total. «Total also benefits from a stable core of shareholders made up of employees, who are represented on the Board of Directors by a member elected from among those proposed by the employees. Our performance share program is the largest among CAC 40 companies, with more than 10,000 non-executive participants each year since 2015.»

 

Employee shareholders represent more than 4.8% of the Group’s capital, the largest employee shareholding in the CAC 40, with a market value of more than 5.1 billion euros, contributing to a stronger balance sheet and demonstrating the confidence of employees in the development of the Group to which they actively contribute. 

Source : Neftegaz.RU