SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2022

Share-based payment arrangements [Abstract]

Schedule of Inputs to the Model Used for PSUs Granted

The following table lists the inputs to the valuation model used for the PSUs granted in March 2022:

March 2022 PSUs

Fair value at grant date (in euros)

23.70

Share price at grant date (in euros)

17.11

Dividend yield

—

Expected volatility (A)

70%

Risk-free interest rate (US government bond yield)

1.88%

Model used

Monte Carlo

(A)Volatility in the share prices of the Company and companies included in indices were estimated based on observed historical volatilities over a period equal to the PSU vesting period.

Schedule of Number and Movement of Potential Shares


	Performance-Based RSU	Restricted Stock Units		Total potential shares






At December 31, 2021	2,526,527		2,148,999		4,675,526
Granted (A)	603,023		556,360		1,159,383
Over-performance (B)	924,634		—		924,634
Vested	(1,849,268)		(774,958)		(2,624,226)
Forfeited (C)	(16,955)		(34,029)		(50,984)
At June 30, 2022	2,187,961		1,896,372		4,084,333

(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, 16,955 were forfeited following the departure of certain beneficiaries and none were forfeited in relation to the non-fulfilment of performance conditions.