Incentive plans

Approval of new plans

In line with the Recommendations of the European Commission no. 385 of 30 April 2009 and no. 913 of 14 December 2004, the Code of conduct endorsed by Borsa Italiana S.p.A. recommends that the board of directors of listed companies, on the proposal of the Appointments and remuneration committee, define a general policy for the remuneration of executive directors, other key directors and management personnel.

Based on the above and in line with the same document approved by the board of directors for 2012, on 5 March 2013, the parent’s board of directors approved the “Remuneration policy”.

The aim of this policy is to:

  • foster the creation of value for shareholders in the medium- to long-term;
  • develop a strong link between performance and remuneration, both individual and of the Ansaldo STS group;
  • attract, retain and motivate high-quality management personnel.

In this new and more detailed context and pursuant to the above-mentioned recommendations of the Code of conduct, Ansaldo STS group has developed and approved:

  • a stock grant plan for 2012-2013;
  • a new long-term incentive (cash) plan for 2012-2014, which flanks the other three-year plans (2010-2012 and 2011-2013).

These plans are part of a complex network of short, medium and long-term variable incentives and play a significant role in managers’ total remuneration. Moreover, under these plans, a significant portion of managers’ remuneration is pegged to the achievement and improvement of financial parameters and to strategic objectives which are vital to creating value.

 

     

Registered Office: 16151 Genoa Via Paolo Mantovani, 3 - 5
Paid-in Share Capital EUR 70,000,000 R.E.A. n. 421689 Register of Enterprises of Genoa Tax Code 01371160662
A Finmeccanica Company