2014 Registration Document and Annual Financial Report - page 148

Interests and compensation
Amounts allocated to the special profit-sharing reserve in previous
years were:
€8.5 million for 2012 (paid in 2013);
€9.6 million for 2011 (paid in 2012).
The total amount of the reserve is allocated between all of the
employee beneficiaries in proportion to their individual salary for
the reference year, which is capped by the agreement at double the
amount of the annual ceiling for French social security contributions,
set at December 31 of the reference year.
In compliance with the French Act of December 3, 2008, since
2009 the five-year lock-up period on amounts allocated to employee
profit-shares has been optional rather than compulsory. Consequently,
in 2014, just over 47% of beneficiaries requested the immediate
payment of all or part of their 2013 profit-share.
Consequently, in 2014, just over 47% of beneficiaries requested
the immediate payment of all or part of their 2013 profit-share.
Where such a request is not made, in accordance with the law,
the amounts in the profit-sharing reserve are invested in corporate
mutual funds, with half allocated to the Group Retirement Savings
Plan (PERCO) and the other half to the Corporate Savings Plan
(PEEG). In order to qualify for tax and social security exemptions,
the amounts allocated to the Group Retirement Savings Plan are
locked in until the employee retires and amounts allocated to the
Corporate Savings Plan are locked in for a period of five years.
In 2014, nearly 19% of employees allocated all or part of their
profit-share to the Accor Group Retirement Plan.
Discretionary profit-sharing
Due to the Group’s organization structure and compensation policy,
a large number of discretionary profit-sharing agreements have
been negotiated at the level of Accor SA, its subsidiaries and the
operating units.
These profit-shares are determined based on whether the subsidiary
or unit concerned meets or exceeds its profit targets. In the case
of Accor SA, the amount is dependent partly on meeting objectives
for reducing support costs and partly on achieving EBIT targets.
The calculation method is based on quantitative criteria specified in
each agreement.The amounts vary from year to year and are capped.
Discretionary profit-sharing agreements are negotiated withWorks
Councils or union representatives.
Transactions carried out by executive officers involving Accor SA shares
Sébastien Bazin, Chairman and Chief Executive Officer of Accor
(the “Company”), has informed the French securities regulator
(AMF) and the Company that, on December 30, 2014, he acquired
1,400,000 call options on Accor shares at a unit price of €3.0404
via a personally-owned company.
The options have an exercise price of €42 and can only be exercised
on the expiration date, which falls in the fourth quarter of 2016.
The transaction represents a total personal investment of €4,256,560
or the equivalent of around two years of Mr. Bazin’s basic and variable
compensation. It will only generate a gain if the Accor share price
is higher than €45 on the options’ expiration date.
Schedule of transactions involving shares of the Company carried out during the past fiscal year,
within the meaning of Article L. 621-18-2 of the French Monetary and Financial Code
Person concerned
Type of transaction
Number of shares
Paul Dubrule
Sale of shares
Gérard Pélisson
Sale of shares
Virginie Morgon
Purchase of shares
Bertrand Meheut
Purchase of shares
Iris Knobloch
Purchase of shares
Patrick Sayer
Purchase of shares
Sébastien Bazin (related party)
Purchase of stock options
Jean-Paul Bailly
Purchase of shares
Sophie Gasperment
Purchase of shares
Mercedes Erra
Purchase of shares
Philippe Citerne
Purchase of shares
(1) Number of stock options.
Registration Document 2014
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