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Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2019
Text block [abstract]  
Summary of Performance-Based RSU

The following table lists the inputs to the model used for the PSUs granted in April 2019:

 

Fair value at grant date (in Euros)

      10.44  

Share price at grant date (in Euros)

      7.10  

Dividend yield

      —    

Expected volatility

      52 % 

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

      2.29 % 

Model used

      Monte Carlo  

Summary of Movements in Shares

The following table illustrates the number and movements in shares during the period:

 

     Performance      Restricted      Equity Awards      Total  
     Based Shares      shares      Plan      Potential shares  

At January 1, 2019

      3,085,164        1,312,524        57,913        4,455,601  
  

 

 

     

 

 

     

 

 

     

 

 

  

Granted (A)

      1,028,342        899,926        46,370        1,974,638  

Over-performance (B)

      21,802        —          —          21,802  

Vested

      (807,665 )       (6,000 )       (42,559 )       (856,224 ) 

Forfeited (C)

      (78,806 )       (20,737 )       —          (99,543 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

At June 30, 2019

      3,248,837        2,185,713        61,724        5,496,274  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(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, 78,806 were forfeited following the departure of certain beneficiaries and none were forfeited in relation to the non-fulfilment of performance conditions.