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Information relating to the Chief Executive Officer's compensation for the 2023 financial year as determined by the Board of Directors on February 29, 2024
Further to the recommendation of the Compensation Committee, the Board of Directors, at its meeting held on February 29, 2024, determined Christophe Périllat's variable compensation for his duties as
Chief Executive Officer for the 2023 financial year.
It is recalled that the (gross) annual fixed compensation paid by Valeo to Christophe Périllat for the 2023
financial year totalled EUR 975,000, it being reminded that the latter had been set by the Board of
Directors on March 24, 2021 in anticipation of the Chief Executive Officer's appointment on January
26, 2022, and has remained unchanged since that date.
I.
Christophe Périllat's variable compensation for the 2023 financial year
Further to the recommendation of the Compensation Committee, the Board of Directors at its meeting held on February 29, 2024, assessed the degree of achievement of the quantifiable and qualitative criteria of Christophe Périllat's annual variable compensation in respect of the 2023 financial year. It is recalled that the components of the annual variable compensation have been set by the Board of
Directors at its meeting held on February 23, 2023, on the recommendation of the Compensation
Committee and approved by 96.02% at the Shareholders' Meeting of May 24, 2023 in connection with the 2023 Chief Executive Officer compensation policy (sixteenth resolution) (the 2023 Chief
Executive Officer Compensation Policy ).
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 for 2023 and the guidance published in February 2023.
After analysing the results obtained, the Board of Directors, on the recommendation of the
Compensation Committee, noted a rate of achievement for the quantifiable criteria of 48.06% (based on a maximum percentage of 70%) of the (gross) annual fixed compensation of the Chief Executive
Officer.
Qualitative criteria
In order to assess the degree of achievement of the qualitative criteria set for 2023, 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 47.07% (out of a maximum percentage of 50%) of the (gross) annual fixed compensation of the Chief Executive Officer.
Global Result
Based on the above elements, the rate of achievement of the 2023 qualitative and quantifiable criteria is 95.13% of the (gross) annual fixed compensation of the Chief Executive Officer for the 2023 financial year, i.e. EUR 927,518, out of a maximum percentage of 120% of the (gross) annual fixed compensation of the Chief Executive Officer, i.e. 79.28% in relation to the maximum allowed by the 2023 Chief
07/20667065_3
Executive Officer Compensation Policy.
The variable compensation therefore represents 48.75% of the total amount of (fixed and variable)
compensation due to Christophe Périllat in 2023.
The following table summarizes, in a synthetic way, the applicable quantifiable and qualitative criteria,
