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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Text block1 [abstract]  
Summary of Performance-Based RSU

The following table lists the inputs to the model used for the PSUs granted in 2017 and 2016:

 

     Year ended
December 31, 2017		      Year ended
December 31, 2016		  

Fair value at grant date (in Euros)

      11.52        [6.76 – 9.86]  

Share price at grant date (in Euros)

      7.50        [4.46 – 5.61]  

Dividend yield

      —          —    

Expected volatility

      75%        [69% – 71%]  

Risk-free interest rate (U.S. government bond yield)

      1.51%        [0.76% – 1.27%]  

Model used

      Monte Carlo        Monte Carlo  

Summary of Weighted-Average Fair Value

The following table illustrates the number, weighted-average fair value of, and movements in shares during the year:

 

     Performance-Based RSU      Restricted Stock Units      Equity Award Plans  
     Potential
Shares		     Weighted-Average
Grant-Date Fair
Value per Share		      Potential
Shares		     Weighted-Average
Grant-Date Fair
Value per Share		      Potential
Shares		     Weighted-Average
Grant-Date Fair
Value per Share		  

At January 1, 2016

      1,007,000     € 7.77        269,500     € 16.10        34,865     € 14.11  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Granted(A)

      1,292,000     € 7.56        340,300     € 5.40        81,858     € 4.02  

Over-performance(B)

      47,229     € 7.10        —         —          —         —    

Vested

      —         —          (87,300 )    € 19.75        (21,842 )    € 15.84  

Forfeited(C)

      (279,394 )    € 8.71        (43,000 )    € 16.40        —         —    
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

At December 31, 2016

      2,066,835     € 7.50        479,500     € 7.82        94,881     € 5.01  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Granted(A)

      892,781     € 11.52        703,180     € 7.50        54,409     € 6.09  

Over-performance(B)

      552,728     € 7.63        —         —          —         —    

Vested

      —         —          (125,000 )    € 7.02        (53,950 )    € 5.76  

Forfeited(C)

      (254,504 )    € 8.29        (113,180 )    € 7.27        —         —    
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

At December 31, 2017

      3,257,840     € 8.56        944,500     € 7.76        95,340     € 5.20  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

(A) For PSUs, the number of potential shares granted is presented using a vesting multiplier of 100%.

 

(B) When the achievement of TSR performance exceeds the vesting multiplier of 100%, the additional potential shares are presented as over-performance shares.

 

(C) For potential shares related to PSUs, 175,837 were forfeited following the departure of certain beneficiaries and 78,667 were forfeited in relation to the non-fulfilment of performance conditions.