Moncler Group | Annual Report 2024 Separate Financial Statements 456 Moncler Group | Annual Report 2024 Separate Financial Statements 457
8.2 Stock-based compensation plans
The Financial Statements at 31 December 2024 ref lects the values
of the Performance Shares Plan approved in 2020, 2022 and 2024.
The costs related to stock-based compensation plans
are equal to EUR 15,105 thousand in the 2024, compared with
EUR 15,887 thousand in 2023.
On 11 June 2020, the Ordinary Shareholders’ Meeting has
approved, pursuant to Art. 114-bis of the Consolidated
Law on Finance, the adoption of a Stock Grant Plan denominated
“2020 Performance Shares Plan” addressed to Executive
Directors, Key Managers, employees and collaborators, therein
including Moncler’s external consultants and of its subsidiaries.
The object of this plan is the free granting of the Moncler
shares in case certain Performance Targets are achieved at the end
of the vesting period of 3 years
The Performance Targets are expressed based on the following
in
dexes of the Group in the vesting period adjusted by the
conditions of overunder performance i Net Income ii
Free Cash Flow and iii ESG Environmental Social Governance
The proposed maximum number of shares serving
the Plan is equal to n 2000000 resulting from capital increase
andor allocation of treasury shares
The above plan provides for a maximum of 3 cycles
of attribution as regards the f irst attribution cycle on 11 June
2020 the Board of Directors resolved the granting of 1350000
Moncler Rights The second attribution cycle approved during
2021 ended with the assignment of 463425 Moncler Rights
As regards the f irst allocation cycle the plan ended in 2023
and for further information please refer to 2023 Annual Report.
As regards the second allocation cycle:
•The 3-year vesting period ended with the approval
of the Draft Financial Statements as at 31 December 2023.
•The performance targets were met, together with the
over-performance condition. Therefore, n. 469,646 shares
(including n. 78,274 shares deriving from over-performance)
were assigned to the benef iciaries through a share capital
increase (n. 178,281 shares) and the allocation of treasury
shares (n. 291,365 shares).
As at 31 December 2024 there are no rights in circulation; the ef fect
of the closed plans on the income statement in 2024 amounts
to EUR 1.421 thousand.
On
21 April 2022 the Ordinary Shareholders Meeting also
approved pursuant to Art 114bis of the Consolidated Law
on
Finance the adoption of a Stock Grant Plan denominated
2022 Performance Shares Plan addressed to Executive
Directors Key Managers employees and collaborators therein
including Monclers external consultants and of its subsidiaries
The object of this plan is the free granting of the Moncler
shares in case certain Performance Targets are achieved at the end
of the vesting period of 3 years
The Performance Targets are expressed based on the
following indexes of the Group in the vesting period adjusted
by the conditions of overunder performance i Net Income ii
Free Cash Flow and iii ESG Environmental Social Governance
EUR/000 31 December 2024
Revenues Operating
expenses
Financial
expenses
Financial
income
Trade
receivables
Other
current
assets
Trade
payables
Other
payables,
current
Total
f inancial
debt
Total
f inancial
receivables
Total related
parties
489,343(21,237)(21,442)2,465 67,876 14,867(1,199)(49,569)(350,000)104,442
Total f inancial
statement
491,918(166,627)(21,943)438,584 68,844 20,978(30,927)(60,460)(350,455)104,442
Weight %99.5%12.7%97.7%0.6%98.6%70.9%3.9%82.0%99.9%100.0%
EUR/000 31 December 2023
Revenues Operating
expenses
Financial
expenses
Financial
income
Trade
receivables
Other
current
assets
Trade
payables
Other
payables,
current
Total
f inancial
debt
Total
f inancial
receivables
Total related
parties
469,310(23,995)(24,171)682 96,772 42,425(4,317)(9,400)(650,644)53,525
Total f inancial
statement
473,022(178,424)(24,878)700 98,308 43,035(42,479)(21,816)(655,053)53,525
Weight %99.2%13.4%97.2%97.4%98.4%98.6%10.2%43.1%99.3%100.0%
The following tables summarise the weight of related-party
transactions on the f inancial statements as at
and for the years ended 31 December 2024 and 2023:
The proposed maximum number of shares serving the Plan
i
s equal
to n. 2,000,000 resulting from allocation of treasury shares
.
The above plan provides for a maximum of 3 cycles
of attribution; as regards the f irst attribution cycle, on 4 may 2022
t
he Board of Directors resolved the granting of 971,169 Moncler
Rights. On 4 may 2023, putting into ef fect the second cycle
of attribution, the Moncler Board of Directors approved the
assignation of a maximum number of Moncler Rights of 436,349.
As at 31 December 2024 there are still in circulation
863,727 rights related to the f irst cycle of attribution
and
379,617 rights related to the second cycle of attribution.
With reference to Moncler S.p.A. as at 31 December 2024
there are still in circulation 323,869 rights related to the f irst
cycle of attribution and 98,205 rights related to the second
cycle of attribution.
The ef fect on the income statement in 2024 amounted
to Euro 9,035 thousand.
On 24 April 2024, the Ordinary Shareholders’ Meeting
approved, pursuant to Art. 114-bis of the Consolidated
Law
on Finance, the adoption of a Stock Grant Plan denominated
“2024 Performance Shares Plan” addressed to Executive
Directors, Key Managers, employees and collaborators, therein
including Moncler’s external consultants and of its subsidiaries.
The object of this plan is the free granting of the Moncler
shares in case certain Performance Targets are achieved
at the end of the vesting period of 3 years.
The
Performance Targets are expressed based on the following
indexes of the Group in the vesting period, adjusted by the
cond
itions of over/under performance: (i) Net Income, (ii) Free
Ca
sh Flow and (iii) ESG (Environmental Social Governance).
T
he proposed maximum number of shares serving the Plan
is equal to n. 2,000,000 resulting from allocation of treasury shares.
On 24 April 2024 the Board of Directors resolved the
granting of 1,109,219 Moncler Rights.
As at 31 December 2024 there are in circulation 1,051,560
rights. With reference to Moncler S.p.A. as at 31 December 2024
there are still in circulation 317037 rights whose ef fect on the income
statement in 2024 amounts to EUR 4477 thousand
As stated by IFRS 2 these plans are def ined as Equity Settled
For information regarding the performance share plans
described above please see the companys website
w w wmonclergroupcom in the GovernanceShareholders
Meeting section