Introduction
TABLE OF CONTENTS
6 TO 50
383 TO 406
Pursuant to the criterion related to operating profit, in order for all the free shares granted to be fully vested by the beneficiaries at the end of the vesting period, a level of growth defined by the Board of Directors, but not made public for confidentiality reasons, must be met or exceeded. If this is not achieved, the grant decreases. If the operating profit does not increase in absolute value over the period, no shares will fully vest pursuant to this criterion.
Pursuant to the criterion related to the achievement of the L’Oréal for the Future Commitments, in order for all the free shares granted to be fully vested by the beneficiaries at the end of the vesting period, an average of 79% of the L’Oréal for the Future Commitments must be achieved during the vesting period. If this is not achieved, the grant decreases. If the average level of achievement for the L’Oréal for the Future Commitments falls below 66%, no shares will fully vest pursuant to this criterion.
Pursuant to the criterion related to gender balance in strategic positions, in order for all the free shares granted to be fully vested by the beneficiaries at the end of the vesting period, the average representation of one of the genders must account for at least 40% of employees in strategic positions. If this is not achieved, the grant decreases. No shares will vest in relation to this criterion if the average representation of one of the genders is below 35% over the vesting period.
The Human Resources and Remuneration Committee is responsible for communicating to the Board of Directors the level of indicators recorded for the years to be used for the calculation of the performance conditions. The Board of Directors records, at the appropriate time, the level of performance achieved on which the number of shares that fully vests depends.
The figures recorded each year to determine the levels of performance achieved are published in section 7.4.3.6.
The vesting of the first 100 conditional grants of shares is not subject to fulfilment of the performance conditions except for beneficiaries who were members of the Executive Committee at grant date, including the Chief Executive Officer.
The total number of shares granted in 2024 to the 10 employees other than corporate officers who received the largest number of shares was 73,175 shares.