Executive Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

For the years 2023, 2022 and 2021, the changes in connection with the Share-Based Compensation Programs were as follows:


									ADSs equivalents delivered (thousands)
Plan	Target number of ADSs (thousands)		ADS price at award’s date 1		Fair value (%)		Fair value (millions)		2023		2022		2021		ADSs Forfeited (thousands)		ADSs Outstanding (thousands) 2
Performance Plans
2018		1,521.9	$	6.3		149%		14.3		–		–		2,368.4		61.4		–
2019		2,303.0	$	4.4		130%		13.2		–		3,062.8		–		57.7		–
2020		4,146.0	$	2.3		155%		14.8		8,448.2		–		–		–		–
2021		1,227.2	$	8.0		150%		14.7		–		–		–		–		1,840.8
2022		2,403.6	$	4.3		149%		15.4		–		–		–		–		3,571.7
2023		2,825.4	$	6.4		145%		26.1		–		–		–		–		4,094.1
Ordinary Plans
2017		2,704.4	$	8.9		100%		23.9		–		–		19.1		103.9		–
2018		5,304.2	$	6.5		100%		34.5		–		–		968.7		139.2		–
2019		8,048.2	$	4.7		100%		37.5		42.4		1,521.4		1,725.0		118.3		–
2020		11,162.2	$	2.5		100%		28.1		2,293.0		2,370.9		2,617.6		253.7		–
2021		5,716.6	$	7.2		100%		41.3		1,442.7		1,465.6		1,634.6		39.3		1,232.2
2022		9,483.0	$	4.9		100%		46.0		2,450.5		2,499.8		–		22.4		4,468.8
2023		6,531.9	$	5.9		100%		38.4		1,765.0		–		–		–		4,766.8

										16,441.8		10,920.5		9,333.4		795.9		19,974.4

1	Average ADS price of the awards at the date of grant.

2	Until the final payout of the Performance Plans is determined after the conclusion of the three-year period for award, the number of ADSs outstanding assumes a payout considering the same percentage determined by the option pricing model.