tance, such as those stated in the Strategic Sustainability Plan Moncler Born to Protect.
In the MBO system, social and environmental targets related to the fulfilment of the Sustainability Plan are set for everyone involved in the implementation of the plan it- self, likewise, responsible sourcing objectives are assigned to some key positions. For all members of the Strategic Com- mittee, including the Chairman and CEO, a percentage of their MBO bonus depends on the achievement of strategic sustainability objectives.
In 2020, despite the difficult economic context, a re- vised MBO system was maintained in order to motivate em- ployees and reward them for their efforts in such a challeng- ing year. The Chairman and CEO, the executive directors, and the strategic directors gave up their MBO bonuses to help fund the incentives for the rest of the workforce.
Changes were made during the year to the system that incentivizes the achievement of outstanding performance through mechanisms that reward the employees over per- formance by increasing the amount of obtainable bonuses, starting from a specific threshold, when performance tar- gets are exceeded.
Moncler has been using Performance Share plans as a long-term incentive system for key positions, up to the managerial level. These plans enable linking the bonuses for Group managers and key staff to the Company s actual performance, steering people towards strategies that focus on medium and long-term targets, aligning the interests of beneficiaries with those of shareholders and investors, and developing policies to attract and retain talented pro- fessionals.
Three stock option plans and three performance share plans have been introduced since the Company s listing on the stock exchange in 2013: Stock Option Plan 2014-2018 Top Management and Key Peo-
ple, for Group senior management and key officers in the organization;
Stock Option Plan 2014-2018 Italian Corporate Structures, for all employees at Italian corporate offices with a per- manent employment contract;
2015 Performance Stock Option Plan, for Group key officers in the organization;
2016-2018 Performance Share Plan, for Group senior man- agement and key officers in the organization;
2018-2020 Performance Share Plan, for Group senior man- agement and key officers in the organization;
2020 Performance Share Plan, for Group senior manage- ment and key officers in the organization.
The new 2020 Performance Share Plan includes an ESG per- formance indicator. This refers to the Strategic Sustainabili- ty Plan Moncler Born to Protect, which contains the medium- to long-term strategic guidelines for sustainability aspects. In defining the five strategic priorities of the Plan and the commitments taken on to achieve them, Moncler took into consideration also the targets set by The Fashion Pact, which it joined in 2019, focused on three main areas: combating global warming, restoring biodiversity, and protecting the oceans. The ESG performance indicator therefore focuses on three challenges: carbon neutrality, the reduction of conven- tional single-use plastic, and recycling pre-consumer nylon. The indicator also considers Moncler s performance in the Dow Jones Sustainability Index.
See also the 2020 Report on Remuneration, available in the Governance section at www.monclergroup.com.
BENEFITS
Remuneration packages offered to employees feature a wide range of benefits, from life insurance and pension plans to information and prevention programmes aimed at improv- ing people s wellbeing. Moncler offers employee benefits based on their professional category, irrespective of type of employment contract (permanent/temporary, full-time/ part-time). Benefits are provided according to internation- al guidelines, with possible variations depending on coun- try-specific policies.
With a view to developing remuneration policies that not only pay employees for their work but respond to their non-financial needs, Moncler has developed corporate wel- fare plans currently in Italy, the United Kingdom, and South Korea to ensure greater care and attention to the well-being of people, who have always been the Company s true strate- gic asset. In Italy the plans apply to all employees, up to the managerial level at the corporate offices, working under a permanent contract or an apprenticeship contract as of 31 December of each year and offer a wide range of benefits and services, some of them extended to the employee s fam- ily members, including reimbursement of school expenses, vouchers, leisure activities, and wellness packages.
In Italy employees can also choose to pay a share of their welfare credit into supplementary pension funds, and
7. Includes the Moncler Corporate Welfare Plan, as well as kindergartens and other childcare services. 8. Includes benefits such as a company car, transport allowance or accommodation. 9. Includes free admission to gyms, fitness courses and other initiatives.
Financial benefits Employees entitled to benefits
Supplementary pension plans 39%
Supplementary health plans 56%
Life insurance 17%
Financial support for disability 35%
Company canteen or lunch vouchers 46%
Company welfare plans7 51%
Other8 37%
Social benefits Employees entitled to benefits
Fitness/sports centres9 0.09%
Wellness and nutritional programmes 52%
MAIN BENEFITS OFFERED
8988 CONSOLIDATED NON FINANCIAL STATEMENT 2020NURTURE GENIUS