2019 Universal registration document and annual financial report - BNP PARIBAS 233
4Consolidated finanCial statements for the year ended 31 deCemBer 2019
4
Notes to the financial statements
Deferred share price-linked, cash-settled compensation plans
As part of the Group s variable remuneration policy, deferred annual compensation plans offered to certain high-performing employees or set up pursuant to special regulatory frameworks may entitle beneficiaries to variable compensation settled in cash but linked to the share price, payable over several years.
Variable compensation for employees, subject to special regulatory frameworks
Since the publication of the Decree by the French ministry of finance on 13 December 2010, and following the provisions of the European Directive CRD4 of 26 July 2013 transposed into the French law in the Monetary and Financial Code by the Order of 20 February 2014 as well as
the Decrees and Orders of 3 November 2014 and the delegated European regulation of 4 March 2014, the variable compensation plans apply to Group employees performing activities that may have a material impact on the Group s risk profile.
Under these plans, payment is deferred over time and is contingent on the performance achieved by the business lines, core businesses and Group.
Sums will mostly be paid in cash linked to the increase or decrease in the BNP Paribas share price.
Deferred variable compensation for other Group employees Sums due under the annual deferred compensation plans for high- performing employees are partly paid in cash linked to the increase or decrease in the BNP Paribas share price.
Global Share-Based Incentive Plan (until 2012)
➤ STOCK OPTION PLANS
On 4 March 2019, the last stock option plan expired.
Characteristics of the plan Options outstanding
at end of period
Originating company Date of grant
Number of grantees
Number of options
granted
Start date of exercise
period Option
expiry date
Adjusted exercise
price (in euros)
Number of options
Remaining period until expiry of
options (years)
BNP Paribas SA 04/03/2011 1,915 2,296,820 04/03/2015 04/03/2019 56.45
TOTAL OPTIONS OUTSTANDING AT END OF PERIOD - -
➤ MOVEMENTS OVER THE PAST TWO YEARS
Year to 31 Dec. 2019 Year to 31 Dec. 2018
Number of options
Weighted average exercise price
(in euros) Number of options
Weighted average exercise price
(in euros)
OPTIONS OUTSTANDING AT 1 JANUARY 1,296,508 58.25 2,277,443 55.61
Options exercised during the period (939,175) 52.07
Options expired during the period (1,296,508) (41,760)
OPTIONS OUTSTANDING AT 31 DECEMBER - - 1,296,508 58.25
OPTIONS EXERCISABLE AT 31 DECEMBER - - 1,296,508 58.25
➤ PERFORMANCE SHARE PLANS
At 31 December 2019, 206 BNP Paribas SA shares granted via performance share plans were not yet delivered to their beneficiaries.
