Carrefour - 2017 Registration Document

7 INFORMATION ABOUT THE COMPANY Information on the capital CARREFOUR | 2017 REGISTRATION DOCUMENT 329 Grant of shares On July 27, 2016, based on the Compensation Committee’s recommendation, the Board of Directors decided to use the authorisation given in the 14 th resolution of the Shareholders’ Meeting held on May 17, 2016 to grant performance shares (new or existing shares) to 950 Group employees. The plan provided for the grant of a maximum of 1,950,000 shares (representing 0.26% of the share capital). The shares will vest only if the grantee remains with the Group until the end of the vesting period and several performance conditions are met. The vesting period is three years from the date of the Board of Directors’ meeting at which the rights were granted. The number of shares that vest will depend on the achievement of three performance conditions: two conditions linked to financial performance (EBITDA growth ● for 35% and organic sales growth for 35%); and a CSR-related condition (for 30%). ● Details of the performance share plans in progress at December 31, 2017 are presented below: 2016 Performance plan Date of the Annual Shareholders’ Meeting May 17, 2016 Grant date (1) September 15, 2016 Vesting date (2) July 28, 2019 Number of shares awarded at grant date 1,944,850 Number of grantees at grant date 950 Fair value of one share (in euros) (3) 20.18 Notification date (i.e., date on which grantees were notified of the plans’ characteristics and terms). (1) The shares will vest only if the grantee remains with the Group until the end of the vesting period and several performance conditions are met. (2) The Carrefour share price on the grant date (reference price) adjusted for estimated dividends not received during the vesting period. (3) Movements in performance shares in 2017 were as follows: 2017 2016 Number of free shares granted at January 1 1,942,150 0 of which, shares outstanding 0 0 Shares granted in 2017 - 1,944,850 Shares delivered to the grantees in 2017 (3,500) - Shares cancelled in 2017 (199,200) (2,700) Number of free shares granted at December 31 1,739,450 1,942,150 of which, shares outstanding 8,000 0