• BIC: Remuneration of Executive Corporate Officers

    Source: Nasdaq GlobeNewswire / 17 Dec 2024 10:45:00   America/Chicago

                                

    Remuneration of Executive Corporate Officers

    In accordance with Article L.22-10-13 of the French Commercial Code and the recommendation 26-1 of the AFEP-MEDEF Code of Corporate Governance

    Clichy, France – December 17, 2024 – In its meeting of December 11, 2024, chaired by Nikos Koumettis, the Board of Directors of SOCIÉTÉ BIC, upon the joint recommendations of the Remuneration Committee and Nominations, Governance and CSR Committees, decided the following in relation to the remuneration to be paid to Gonzalve Bich in the context of his planned departure:

    • Base salary will remain unchanged at 950,000 US dollars1 per annum.
    • Target variable remuneration will remain unchanged as will the split between individual (30%) and financial (70%) criteria.
    • The facial value of the free shares to be granted in 2025 will be consistent with previous years at 1,700,000 US dollars1.
    • Gonzalve Bich will continue to vest on a prorata temporis basis in the free shares granted during his mandate according to the calendar and performance conditions of each plan.
    • At the end of his mandate, Gonzalve Bich will receive a non-compete indemnity to the amount of 1,800,000 US dollars1 covering a twelve-month period starting on the date of his departure and subject to the respect of the terms and conditions of the non-compete provisions.
    • Continued coverage under the company health insurance plan for a period of 24 months following departure.

    For a six-month period starting at the end of his mandates, Gonzalve Bich will continue in the role of Senior Advisor to the Board of Directors of SOCIÉTÉ BIC. A related party consulting agreement will be signed to this effect with BIC Corporation and Gonzalve Bich will receive consulting fees of 350,000 US dollars1 for this advisory role.

    The above elements have been outlined in an agreement between Gonzalve Bich and SOCIÉTÉ BIC, agreement which was formally approved by the Board of Directors in its meeting of December 11, 2024, under the provisions of the articles L.225-38 and following of the French Commercial Code and signed at the end of the meeting. The signature of this agreement will allow for an orderly and progressive transition, enabling the Company to maintain its momentum, its profitable growth trajectory and its commercial discipline.

    Under the provisions of articles L.22-10-34 II and L.22-10-8 of the French Commercial Code, the payment of these amounts is contingent on a favorable vote of the Annual General Meeting that will be held in May 2025 to approve the accounts of the fiscal year ending December 31, 2024.

    ***

    Contacts

    Brice Paris
    VP Investor Relations
    +33 6 42 87 54 73
    brice.paris@bicworld.com


     

    Michèle Ventura
    Senior Investor Relations Manager
    +33 6 79 31 50 37
    michele.ventura@bicworld.com     		Bethridge Toovell
    VP Global Communications
    +1 917 821 4249
    bethridge.toovell@bicworld.com  


     

    Apolline Celeyron
    Senior Communications Manager
    +33 6 13 63 44 43
    apolline.celeyron@bicworld.com

    About BIC

    A global leader in stationery, lighters, and shavers, BIC brings simplicity and joy to everyday life. For 80 years, BIC’s commitment to delivering high-quality, affordable, and trusted products has established BIC as a symbol of reliability and innovation. With a presence in over 160 countries, and over 14,000 team members worldwide, BIC’s portfolio includes iconic brands and products such as BIC® 4-Color™, BodyMark®, Cello®, Cristal®, Inkbox®, BIC Kids®, Lucky™, Rocketbook®, Tattly®, Tipp-Ex®, Wite-Out®, Djeep®, EZ Load™, EZ Reach®, BIC® Flex™, Soleil®, Tangle Teezer® and more. Listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indexes, BIC is also recognized for its steadfast commitment to sustainability and education. For more, visit www.corporate.bic.com and to see BIC’s full range of products visit www.bic.com. Follow BIC on LinkedIn, Instagram, YouTube and TikTok.

    1 Amounts in euros will be detailed in the 2024 Universal Registration Document.

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