XML 465 R36.htm IDEA: XBRL DOCUMENT
v3.20.4

SHARE-BASED COMPENSATION | 12 Months Ended
--- | ---
Dec. 31, 2020
Share-based payment arrangements [Abstract] |
SHARE-BASED COMPENSATION | NOTE 30 - SHARE-BASED COMPENSATION Description of the plans Performance-Based Restricted Stock Units (equity-settled) The Company has periodically granted Performance Stock Units (PSUs) to selected employees. These units vest after three years from the grant date if the following conditions are met: •A vesting condition under which the beneficiaries must be continuously employed by the Company through the end of the vesting period; and •For PSUs granted in 2016, a performance condition, contingent on the Total Stockholder Return (TSR) performance of Constellium over the measurement periods compared to the TSR of a specified group of peer companies. These PSUs have vested, depending on the TSR performance at each testing period, based on a vesting multiplier in a range from 0% to 300%; •For PSUs granted from 2017 to 2020, a performance condition, contingent on the TSR performance of Constellium shares over the vesting period compared to the TSR of specified indices. PSUs will ultimately vest based on a vesting multiplier which ranges from 0% to 200%. The PSUs granted in March 2016, May 2016, August 2016 and November 2016 achieved, respectively, a TSR performance of 115.9%, 98.1%, 191.6% and 223.8% at their first testing period, 229.9%, 217.2%, 282.2% and 148.7% at their second testing period, and 108.4%, 125.4%, 230.4% and 286.4% at their third testing period, which represented respectively 184,469 potential additional shares in 2017, 433,032 potential additional shares in 2018, and 248,230 potential additional shares in 2019. The PSUs vested in March 2019, May 2019, August 2019 and November 2019 of 684,329 shares, 123,336 shares, 434,256 shares and 516,141 shares, respectively, were granted to beneficiaries. The PSUs granted in July 2017 achieved a TSR performance of 186.8%. These PSUs vested in July 2020 and 1,458,985 shares were granted to beneficiaries. The following table lists the inputs to the valuation model used for the PSUs granted in 2020 and 2019:
|  | April 2020 PSUs |  | May 2019 PSUs
Fair value at grant date (in euros) |  | 6.65 |  | 10.44
Share price at grant date (in euros) |  | 4.64 |  | 7.1
Dividend yield |  | — |  |  | — |
Expected volatility (A) |  | 63 | % |  | 52 | %
Risk-free interest rate (US government bond yield) |  | 0.36 | % |  | 2.29 | %
Model used |  | Monte Carlo |  | Monte Carlo
(A)Volatilities for the Company and companies included in indices were estimated based on observed historical volatilities over a period equal to the PSU vesting period. Restricted Stock Units Award Agreements (equity-settled) The Company granted Restricted Stock Units (RSUs) to a certain number of employees subject to the beneficiaries remaining continuously employed within the Group from the grant date through the end of the vesting period. The vesting period is three years. The fair value of RSUs awarded under the plans described above is the quoted market price at grant date. Equity Awards Plans (equity-settled) In 2019, our non-executive Company Board members were granted two RSU awards. These RSUs vest in equal installments on the earlier of (i) the first anniversary or (ii) the date of the annual general meeting of shareholders of that year, and on the earlier of (i) the second anniversary or (ii) the date of the annual general meeting of shareholders of that year, subject to continued service. The fair value of RSUs awarded under the plan is the quoted market price at grant date. In 2020, no RSU awards were granted to our non-executive Company Board members. Expense recognized during the year In accordance with IFRS 2, share-based compensation is recognized as an expense over the vesting period. The estimate of this expense is based upon the fair value of a potential ordinary share at the grant date. The total expense related to the potential ordinary shares for the year ended December 31, 2020, 2019 and 2018 amounted to €15 million, €16 million and €12 million, respectively. Movement of potential shares The following table illustrates the number and movements in potential shares:
|  | 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, 2019 |  | 3,085,164 |  |  | € | 10.45 |  |  | 1,312,524 |  |  | € | 8.47 |  |  | 57,913 |  |  | € | 8.31 |
Granted |  | 1,028,342 |  |  | € | 10.44 |  |  | 899,926 |  |  | € | 7.10 |  |  | 73,799 |  |  | € | 8.39 |
Over-performance |  | 248,230 |  |  | € | 8.94 |  |  | — |  |  | € | — |  |  | — |  |  | € | — |
Vested |  | (1,758,062) |  |  | € | 7.97 |  |  | (106,000) |  |  | € | 4.55 |  |  | (42,559) |  |  | € | 7.60 |
Forfeited |  | (84,380) |  |  | € | 8.02 |  |  | (39,947) |  |  | € | 8.31 |  |  | (9,627) |  |  | € | 8.71 |
At December 31, 2019 |  | 2,519,294 |  |  | € | 12.11 |  |  | 2,066,503 |  |  | € | 8.08 |  |  | 79,526 |  |  | € | 8.71 |
Granted (A) |  | 1,049,839 |  |  | € | 6.65 |  |  | 910,047 |  |  | € | 4.64 |  |  | — |  |  | € | — |
Over-performance (B) |  | 677,944 |  |  | € | 11.52 |  |  | — |  |  | € | — |  |  | — |  |  | € | — |
Vested |  | (1,458,985) |  |  | € | 11.52 |  |  | (589,655) |  |  | € | 7.50 |  |  | (46,614) |  |  | € | 8.94 |
Forfeited (C) |  | (193,765) |  |  | € | 10.94 |  |  | (154,984) |  |  | € | 7.37 |  |  | — |  |  | € | — |
At December 31, 2020 |  | 2,594,327 |  |  | € | 10.17 |  |  | 2,231,911 |  |  | € | 6.88 |  |  | 32,912 |  |  | € | 8.39 |
(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, 193,765 were forfeited following the departure of certain beneficiaries and none were forfeited in relation to the non-fulfilment of performance conditions.

X
- Definition Share-based payment arrangements + References No definition available. + Details
Name: | cstm_SharebasedpaymentarrangementsAbstract
Namespace Prefix: | cstm_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for share-based payment arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2020-01-01 -Paragraph 44 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2020-en-r&anchor=para_44&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration