On March, 16, 2012, the AXA Group granted 50 free AXA ordinary shares or “AXA Miles” to more than 120,000 employees worldwide, engaging all employees in the successful execution of the company’s strategic plan Ambition AXA.
A first tranche of 25 AXA Miles was granted without any condition. The second tranche was subject to the fulfilment of a performance condition determined by AXA’s Board of Directors.
This condition required the achievement of at least one of two indicators related to Ambition AXA: an increase in underlying earnings per share or an increase in the Group’s customer satisfaction index or “Customer Scope”.
For the year ended December 31, 2012, both of these conditions were met and, consequently, the grant of the second tranche has been confirmed.
“On behalf of the Executive Committee, I would like to thank all AXA employees for their continued engagement and focus which is the key to our future success and ability to achieve our Ambition AXA objectives. This grant of free shares to all our employees is intended to both recognize the many contributions of our employees around the world and to ensure that they share in the benefits of the Group’s success going forward. ” said George Stansfield, Head of the AXA Group Human Resources.
These 50 AXA Miles shares granted in 2012 will vest upon completion of a two or four year vesting period (i.e., in 2014 or 2016) depending on applicable local regulations2, and subject to fulfilment of certain conditions3.
On December 10, 2012, AXA’s employees held approximately 7.43% of the share capital of
AXA.
