| February 2025 |
- Report on investor meetings on the remuneration policies for corporate officers
- Recommendations on the remuneration of corporate officers for 2024:
- assessment of the Chief Executive Officer's variable annual remuneration for 2024 following a review of financial and non-financial results;
- draft Say on Pay ex post resolutions.
- Long-term incentive plan:
recognition of the performance levels achieved for the expiring 2021 plan for the conditional grants of shares (ACAs).
- Presentation of the 2025 study on the remuneration of corporate officers:
panel, balance and structure of remuneration, link between performance and remuneration.
- Recommendations concerning the 2025 remuneration policies:
- applicable to corporate officers (Chief Executive Officer and Chairman of the Board of Directors);
- review of draft resolutions.
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| April 2025 |
Report on say-on-pay voting intentions for the remuneration policies for corporate officers
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| June 2025 |
Analysis of the outcome of the say-on-pay votes at the General Meeting of 29 April 2025 relating to the 2025 remuneration policy for the Chief Executive Officer (16th resolution), and proposal of a detailed analysis methodology based on an off-season and in-depth shareholder engagement process.
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| September 2025 |
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| December 2025 |
- 2026 remuneration policy:
- review of opinions and questions raised during discussions with investors and proxy advisors;
- analysis of the “Pay for Performance” alignment of the Chief Executive Officer's remuneration, with the assistance of an independent consultancy firm;
- examination of the different policy options regarding the remuneration policy of the Chief Executive Officer.
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