Long-term incentive plan approved and performance shares awarded

At a Board meeting held today, the Directors of Mediobanca approved a long-term incentive plan linked to achievement of the objectives set in the 2019-23 strategic plan approved on 12 November 2019. The beneficiaries of the plan are the Chief Executive Officer of Mediobanca, the General Manager of Mediobanca, and the CEO of Compass/CheBanca!.

 

As provided by the Group Remuneration Policies in force, the amount of the award made will be comprised within a range of 20-40% of the value of the beneficiary’s individual gross annual compensation for each year of the plan. The award will become payable upon the quantitative and qualitative/non-financiar objectives set in the recipients’ individual scorecards being achieved, without prejudice to the annual cap on variable remuneration which is set at 200% of fixed remuneration. The amount will be established when the plan has been completed.

 

The main characteristics of the plan are as illustrated in the attached slides.

 

As required by Article 84-bis of Consob resolution no. 11971/99 (Regulations for Issuers), notice is hereby given that a maximum number of 338,841 Mediobanca shares (performance shares) have been reserved for the recipients of the long-term incentive plan, to be awarded in the course of the five-year period subsequent to the LTI plan’s completion, from the

scheme approved by the Bank’s shareholders at the Annual General Meeting held on 28 October 2019.

 

The characteristics of the instruments assigned are described on the Bank’s website at www.mediobanca.com.