Share grants under the 2015 performance share plan and information about incentive plans
NOTIFICATION PURSUANT TO ARTICLE 84-BIS OF CONSOB REGULATION NO.11971/1999
SHARE GRANTS UNDER THE 2015 PERFORMANCE SHARE PLAN AND INFORMATION ABOUT INCENTIVE PLANS
Milan, March 2, 2018 – Pursuant to art. 84-bis of CONSOB Regulation no. 11971/1999, the Company hereby announces that on February 26, 2018, the Board of Directors of Luxottica Group S.p.A. (MTA: LUX) (the “Company”) assigned a total of 446,767 Luxottica Group ordinary shares to 478 beneficiaries under the 2015 Performance Share Plan. This assignment is effective as of March 2, 2018 and has been executed according to the Performance Share Plan 2015 first approved on May 4, 2015, and later amended by the Board of Directors on May 16, 2017. The Board’s action was based on the February 22, 2018 recommendation of the Human Resources Committee, and as a result of Luxottica having achieved a combined EPS target for the three-year period 2015-2017.
The PSP Plan is in the form of a stock grant plan and provides that beneficiaries will be granted the right (‘Unit’) to receive, without consideration, ordinary shares of the Company as long as certain financial targets set by the Board of Directors at the time of grant are achieved at the end of a specified three-year reference period. Specifically, over the course of the three-year reference period, consolidated EPS (earnings per share) targets must be cumulatively reached, as set forth in the Group’s consolidated statements of income, equal to the net income highlighted in the financial statements divided by the average number of outstanding shares. The PSP Plan is reserved for employees of the Company and its subsidiaries who are identified individually by the Board of Directors upon the recommendation of the Human Resources Committee.
Terms of the Plan are described in more detail in the Board of Directors Report prepared in connection with the April 29, 2013 Stockholders Meeting and is also part of the Information Document and Plan Regulations, available in the Governance/General Meeting/Archive section of the Company’s website www.luxottica.com. Additional information about other Incentives Plans are available under the section Governance/Compensation/Incentive Plans.
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Attached below is the information required under scheme 7 of Annex 3A to CONSOB Regulations no.11971/1999 disclosing the grant of shares under the 2014 Performance Share Plan and the execution of the Company’s other incentive plans.