Free translation for information purposes only
Information relating to the Chief Executive Officer's compensation for the 2022 financial year as determined by the Board of Directors on February 23, 2023
Further to the recommendation of the Compensation Committee, the Board of Directors, at its meeting held on February 23, 2023, (i) determined Christophe Périllat's variable compensation for his duties as
Chief Executive Officer for the 2022 financial year and (ii) acknowledged the degree of achievement of his pension plan's performance condition for the 2022 financial year.
It is noted that the (gross) annual fixed compensation paid by Valeo to Christophe Périllat as Deputy Chief
Executive Officer and then Chief Executive Officer for the 2022 financial year totalled EUR 958,1991.
I.
Christophe Périllat's variable compensation for the 2022 financial year
Further to the recommendation of the Compensation Committee, the Board of Directors at its meeting held on February 23, 2023, assessed the degree of achievement of the quantifiable and qualitative criteria of Christophe Périllat's annual variable compensation in respect of the 2022 financial year.
It is recalled that the components of the Chief Executive Officer's compensation policy for the 2022
financial year have been set by the Board of Directors by anticipation on March 24, 2021, on the recommendation of the Compensation Committee2. These components were supplemented by the Board of Directors on February 24, 2022, on the recommendation of the Compensation Committee, by the variable compensation components for the 2022 financial year3 (the 2022 Chief Executive Officer
Compensation Policy ).
In accordance with the 2022 Chief Executive Officer Compensation Policy, it was decided that the
(gross) annual fixed compensation of the Chief Executive Officer for the entire 2022 fiscal year
(i.e., (gross) EUR 975,000) shall apply as the reference compensation to the annual variable compensation of Christophe Périllat.
Qualitative criteria
In order to assess the degree of achievement of the qualitative criteria set for 2022, which are described in the table below, the Board of Directors, on the recommendation of the Compensation Committee,
carried out a detailed analysis of the degree of achievement for each of the criteria (see notes under the table below).
Based on this analysis, the Board of Directors, on the recommendation of the Compensation Committee,
noted that the achievement rate for the qualitative criteria was 47% (out of a maximum percentage of
50%) of the (gross) annual fixed compensation of the Chief Executive Officer.
Quantifiable criteria
The quantifiable criteria of Christophe Périllat's annual variable compensation have been set by the
Board of Directors, on the recommendation of the Compensation Committee, based on Valeo's budget
1
2
3
This amount corresponds to (i) the (gross) annual fixed compensation set at EUR 725,000 for the duties as Deputy Chief Executive Officer and paid to Christophe Périllat pro rata temporis over the period from January 1 to 26, 2022 (i.e. an amount equal to EUR 48,723) and (ii) a (gross)
annual fixed compensation set at EUR 975,000 for the duties as Chief Executive Officer and paid to Christophe Périllat pro rata temporis over the period from January 26 to December 31, 2022 (i.e. an amount equal to EUR 909,476).
Approved by 95.14% by the General Meeting of May 26, 2021, under its fourteenth resolution.
Approved by 92.25% by the General Meeting of May 24, 2022, under its thirteenth resolution. This resolution concerned (i) the compensation policy of the Deputy Chief Executive Officer for the period from January 1 to 26, 2022, and (ii) the 2022 Chief Executive Officer Compensation
