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remuneration Policy 2019

Policy and 2018 assessment

The remuneration system recognises responsibilities assigned, results achieved and the quality of the professional contribution, and it adheres to the principles of personal development and equal opportunity that have always formed a part of Snam’s organisational culture.

 
The Compensation Committee undertook its annual assessment of Snam’s remuneration policy in early 2019. In making its decisions, with a view to consistency, the Committee took into account the decisions taken by the Shareholders’ Meeting of 27 April 2016 and by the Board of Directors in 2016, following an evaluation of the regulatory framework regarding remuneration, as well as the practices in the preparation of the remuneration report in a national and international context.
 

The Snam Remuneration Policy for 2019 for directors and managers with strategic responsibilities was approved by the Board of Directors on 18 February 2019.

  

At-a-glance: Snam’s remuneration policy

 
Short-term incentive systems Long-term incentive systems
       
Existence of a short-term incentive system (cash)     Existence of a long-term incentive system (equity)

   

Short Term Incentive parameters for the CEO Weight
Free Cash Flow 30%
Operating efficiency 30%
Investments 20%
New business development - business abroad and Biomethane 10%
Sustainability  - weighted index of frequency and severity and DJSI, FTSE4GOOD and CDP 10%

   

Long-term equity plan
Parameters Weight
Ebitda 60%
Adjusted net profit 30%
Sustainability 10%
 

CYCLE OF ACTIVITIES OF THE COMPENSATION COMMITTEE

2019 Remuneration Policy guidelines

The 2019 Remuneration Policy guidelines were defined in line with the aims and general principles stated and were evaluated, by the Remuneration Committee, to be consistent with the applicable market benchmarks. 
 
The long term share-based incentive plan involves the granting of the Company’s ordinary shares if performance targets measured over a period of three years are reached. The maximum number of annual shares to service the plan is 3,500,000. This share plan guarantees a direct connection with stock performance.

  

The remuneration instruments are summarised and explained in the following diagram:

Compensation Committee

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Snam’s management team

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Snam stock and financial instruments

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updated
09 July 2019 - 11:03 CEST