The ArcelorMittal Equity plan (“the Plan”), an equity-based incentive plan, is intended to promote the alignment of interests between the company’s shareholders and eligible employees by allowing them to participate in the success of the company. The Plan is designed to enhance the long-term performance of the company and to retain key employees through the grant of Performance Share Units (PSUs) and Restricted Share Units (RSUs). Yearly grants under the plan are subject to the approval of the annual general meeting of shareholders. The Plan is intended to complete ArcelorMittal’s existing programme of annual performance-related bonuses, the reward system for short-term performance and achievements.
PSU awards are subject to the fulfillment of performance criteria over a three-year period from the date of award. RSU awards are subject to the continuous employment with the company.
The allocation of long-term incentives is reviewed by the board of directors’ Appointment, Remuneration and Corporate Governance Committee, comprised of three independent directors, which makes a recommendation to the full board of directors. The committee also decides the criteria for granting PSUs and RSUs and makes its recommendation to the board of directors. The criteria are based on the principle of rewarding for performance upon the achievement of clear and measurable metrics for shareholder value creation.
Long-term incentive plan
(Restricted access)