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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items] |
Summary of Share-based Compensation Under Each Plan According to Change in Estimate | The table below shows the share-based compensation under each plan according to the change in estimate mentioned above .
| Share-based compensation - expense |  | Year ended
|  |  | 2019/12/31 |  | 2020/12/31 |  | 2021/12/31
| AGA S 2016-1 |  | — |  |  | — |  |  | — |
| AGA S 2016-2 |  | 44 |  |  | — |  |  | — |
| AGA D 2016-1 |  | 21 |  |  | 21 |  |  | — |
| AGA D 2016-2 |  | 39 |  |  | 6 |  |  | — |
| SO 2016-1 |  | 213 |  |  | 49 |  |  | — |
| SO 2016-2 |  | 93 |  |  | 13 |  |  | — |
| SO US 2016-1 |  | (24) |  |  | — |  |  | — |
| SO US 2016-2 |  | (11) |  |  | — |  |  | — |
| AGA S 2017-1 |  | 209 |  |  | — |  |  | — |
| AGA S 2017-2 |  | 45 |  |  | 13 |  |  | — |
| AGA D 2017-1 |  | 190 |  |  | — |  |  | — |
| AGA D 2017-2 |  | 56 |  |  | 4 |  |  | — |
| SO 2017-1 |  | 27 |  |  | 335 |  |  | — |
| SO 2017-2 |  | 2 |  |  | 110 |  |  | — |
| SO US 2017-1 |  | (4) |  |  | — |  |  | — |
| SO US 2017-2 |  | (6) |  |  | — |  |  | — |
| BSA-2017-A |  | — |  |  | — |  |  | — |
| BSA-2017-B |  | — |  |  | — |  |  | — |
| AGA S 2018 |  | 148 |  |  | 62 |  |  | — |
| AGA D 2018 |  | 135 |  |  | 65 |  |  | — |
| SO 2018 |  | 285 |  |  | 225 |  |  | 186 |
| SO US 2018 |  | 25 |  |  | 24 |  |  | 24 |
| AGA S 2019 |  | 41 |  |  | 55 |  |  | 39 |
| AGA D 2019 |  | 35 |  |  | 63 |  |  | 16 |
| SO 2019 |  | 70 |  |  | 123 |  |  | 105 |
| SO 2019 - US |  | 16 |  |  | 35 |  |  | (11) |
| BSA 2019 |  | 7 |  |  | 20 |  |  | — |
| SO US 2019 |  | 1 |  |  | 14 |  |  | (7) |
| SO D 2020 |  | — |  |  | — |  |  | 14 |
| SO C 2020 |  | — |  |  | — |  |  | 40 |
| SO US 2020 |  | — |  |  | — |  |  | 19 |
| AGA S 2021 |  | — |  |  | — |  |  | 29 |
| AGA D 2021 |  | — |  |  | — |  |  | 5 |
| SO D 2021 |  | — |  |  | — |  |  | 2 |
| SO C2021 |  | — |  |  | — |  |  | 9 |
| SO US 2021 |  | — |  |  | — |  |  | 2 |
| TOTAL |  | 1,656 |  |  | 1,236 |  |  | 470 |
Share Warrants |
Disclosure of terms and conditions of share-based payment arrangement [line items] |
Summary of Key Terms and Conditions of Share-Based Compensation Based | The key terms and conditions related to each program are detailed in the following tables:
Share-based compensation | 2019 | 2017 | 2015 | 2014
Share warrants ( BSA )
|  | BSA 2017-A | BSA 2017-B | BSA 2015-A | BSA 2015-B | BSA 2014-A | BSA 2014-B
Date of the Shareholders meeting | 06/15/2018 | 06/16/2017 | 04/02/2014 | 04/02/2014
Date of the Management Board meeting |  |  | 01/09/2015 | 07/24/2014
Date of the decision and delegation of the Board of Directors to the CEO | 10/18/2019 | 11/21/2017 |  |
Date of the CEO decision | 10/31/2019 | 12/6/2017 |  |
Beneficiaries | Consultants | Consultants and officers | Consultants and officers | Consultants and officers
Total number of BSA subscribed | 35,070 | 18,345 | 18,345 | 12,860 | 12,860 | 46,765 | 46,765
Total number of BSA voided | 0 | 0 | 0 | 12,860 | 12,860 | 46,765 | 46,765
Total number of BSA remaining | 35,070 | 18,345 | 18,345 | 0 | 0 | 0 | 0
Issue Price | €1.23 | €2.00 | €0.01 | €0.01
Exercise price | €12.32 | €19.97 | €35.95 | €23.50
Estimated fair value - according to IFRS 2 | €0.75 | €3.78 | €3.81 | €25.33 /€26.89 | €25.33 /€26.31 | €15.61/€24.84 | €15.61/€24.85
End of exercise period | 05/31/2024 | 06/30/2022 | 07/15/2022 | 05/31/2019 | 11/30/2019 | 09/30/2018 | 02/28/2019
Valuation method used | Black & Scholes
Expected dividends | 0% | 0% | 0% | 0%
Expected volatility | 40.0% | 36.4% | 35.7% | 74.9% | 74.9%
Risk-free interest rate | 0% | 0.0% | 0.4% | 0.4%
Expected life | 0.7 years | 6 years | 4 years | 4 years
Free Shares |
Disclosure of terms and conditions of share-based payment arrangement [line items] |
Summary of Key Terms and Conditions of Share-Based Compensation Based | The key terms and conditions related to each program are detailed in the following tables:
Share-based compensation | 2019 | 2019 | 2018 | 2017 | 2016
Free shares (AGA) | AGA D | AGA S |  |  |
| Officers(1) | Employees | Officers(1) | Employees | AGA D and S | AGA D and S 2017-1 and 2017-2 | AGA D and S 2016-1 and 2016-2
Date of the Shareholders meeting | 06/15/2018 | 06/15/2018 | 06/16/2017 | 06/21/2016
Date of the Management Board meeting |  |  |  | 12/15/2016
Date of the decision and delegation of the Board of Directors to the CEO | 07/18/2019 | 11/07/2018 | 11/22/2017 |
Date of the Executive Board Meeting/CEO decision | 07/18/2019 | 11/22/2018 | 12/06/2017 |
Total number of AGA subscribed | 3,000 | 16,070 | 0 | 17,556 | 35,800 | 41,196 | 30,709
Total number of AGA voided | 0 | 3,360 | 0 | 5,226 | 14,059 | 13,775 | 5,429
Total number of AGA definitively vested | 0 | 0 | 0 | 0 | 21,741 | 27,421 | 25,280
Total number of AGA remaining | 3,000 | 12,710 | 0 | 12,330 | — | — | 0
Vesting period | From 07/18/2019 to 09/16/2022 | From 07/18/2019 to 09/16/2022 | From 12/06/2017 to 12/31/2020 | From 12/15/2016 to 12/15/2019
Valuation method used | Monte Carlo
Price of the share at the time of allocation | €17.06 | €20.02 | €21.95 | €20.78
Expected dividends | 0% | 0% | 0% | 0%
Expected volatility | 40.2% | 38.0% | 53.7% | 63.0%
Risk-free interest rate | 0.0% | 0.0% | 0.0% | 0.0%
Turnover rate | 0.00% | 15.00% | 15.00% | 15.00%
(1) : Chairman and CEO |  |  |  |  |  |  |
Share-based compensation Free shares(AGA) | 2021
AGA S | AGA D
Employees | Officers (1)
Date of the Shareholders' Meeting | 11/27/2019 | 11/27/2019
Date of the decision and delegation of the Board of Directors to the CEO | 02//26/2021 | 03/17/2021
Date of the CEO decision | 03/30/2021 |
Total number of AGA subscribed | 32,400 | 15,000
Total number of AGA voided | 3,400 |
Total number of AGA definitively vested | 0 | 0
Total number of AGA remaining | 29,000 | 15,000
Vesting period | From 03/30/2021 to 03/31/2024 | From 03/17/2021 to 03/31/2024
Valuation method used | Monte Carlo | Monte Carlo
Price of the share at the time of allocation | 4.00 € | 4.15 €
Expected dividends | 0 % | 0%
Expected volatility | 51 | % | 51 | %
Risk-free interest rate | -0.59% | -0.59%
Turnover rate | 0.0 % | 0.0%
(1) Chief Executive Officer.
Stock Options |
Disclosure of terms and conditions of share-based payment arrangement [line items] |
Summary of Key Terms and Conditions of Share-Based Compensation Based | The key terms and conditions related to each program are detailed in the following tables:
Share-based compensation | 2020 | 2019 | 2018 | 2017 | 2016
Stock option SO | SO | SO US | SO 2019 | SO US 1 | SO US 2 | SO 2018 | SO US 2018 | SO 1 and 2 2017 | SO US 2017 | SO 1 and 2 2016 | SO US 2016
| Officers (1) | Employees | Employees | Employees and Officers | Employees | Employees | Employees and Officers | Employees | Employees and Offices | Employees | Employees and Offices | Employees
Date of the Shareholders meeting | 11/27/2019 | 06/15/18 | 11/27/2019 | 06/15/18 | 06/16/17 | 06/21/16
Date of the Management Board meeting |  |  |  |  |  |  | 12/15/2016
Date of the decision and delegation of the Board of Directors to the CEO | 12/11/2020 | 07/18/19 |  | 11/27/2019 | 11/7/2018 | 11/21/2017 |
Date of the CEO decision | 12/11/2020 | 07/18/19 |  | 11/27/2019 | 11/7/2018 | 12/6/2017 |
Total number of SO subscribed | 35,000 | 103,750 | 56,250 | 107,880 | 30,620 | 13,350 | 122,000 | 17,500 | 96,250 | 13,000 | 62,875 | 10,500
Total number of SO voided | 0 | 0 | 0 | 13,350 | 7,000 | 4,450 | 50,322 | 7,787 | 35,273 | 13,000 | 13,169 | 10,500
Total number of SO definitively vested | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60,977 | 0 | 49,706 | 0
Total number of SO remaining | 35,000 | 103,750 | 48,750 | 94,530 | 23,620 | 8,900 | 71,678 | 9,713 | 0 | 0 | 0 | 0
Exercise price | €4.38 | €3.50 | €4.52 | €13.99 | €16.90 | €14.31 | €16.00 | €21.65 | €17.91 | €22.54 | €15.79 | €21.12
Vesting period | From 12/31/2020 to 12/31/2023 | From 07/18/2019 to 09/16/2022 and From 11/27/2019 to 01/16/2023 | From 11/07/2018 to 12/31/2021 | From 12/06/2017 to 12/31/2020 | From 12/15/2016 to 12/15/2019
Exercice period | From 01/01/2024 to 12/31/2027 | From 09/17/2022 to 09/17/2029 and From 01/17/2023 to 01/17/2030 | From 01/01/2022 to 12/31/2028 | From 01/01/2021 to 12/31/2027 | From 12/16/2019 to 12/16/2026
Fair value | €1.16 | €1.46 | 1.12 | €4.59 | €3.67 | €3.23 | €9.32 | €6.90 | €9.32 | €10.30 | €8.52
Valuation method used | Black-Scholes
Price of the share at the time of allocation | €3.99 | €3.99 | €17.06 |  | €14.50 | €22.12 | €21.95 | €20.79
Expected dividends | 0% | 0% | 0% |  | 0% | 0% | 0% | 0%
Expected volatility | 49.0% | 49.0% |  |  | 40.0% | 44.1% | 53.7% | 63.0%
Risk-free interest rate | -0.7% | -0.7% | 0.0% |  | 0.0% | 0.0% | 0.0% | 0.0%
Turnover rate | 0.00% | 0.00% | 0.00% |  | 0.00% | 15.00% | 15.00% | 15.00%
| 2021
| SO | SO US
Share-based compensation |  |  |
Stock Options (SO) | Officers (1) | Employees | Employees
Date of the Shareholders' Meeting | 06/30/2021
Date of the decision and delegation of the Board of Directors to the CEO | 10/18/2021
Date of the CEO Decision | 10/19/2021
Total number of SO subscribed | 35000 | 134375 | 32500
Total number of SO voided | 0 | 0 | 7500
Total number of SO definitely vested | 0 | 0 | 0
Total number of SO remaining | 35000 | 134375 | 25000
Exercise price | €3.26 | €2.61 | €3.22
Vesting period | From 10/20/2021 to 10/20/2024
Exercise period | From 10/21/2024 to 10/21/2031
Fair value | 1.06 | 1.30 | 1.07
Valuation method used | Black-Scholes
Price of the share (€) at the time of allocation | 3.24 | 3.24 | 3.24
Expected dividends | 0.00 | 0.00
Expected volatility | 50 | % | 50 | %
Risk-free interest rate | (0.59) | % | (0.59) | %
Turnover rate | 0.00 | 0.00
(1)Chief Executive Officer Volatility assumptions in the above tables are determined by reference to the Company's historical share price observed on the grant date over a two- and three-year period prior to the grant date, adjusted for extreme variations, if any. Definitive vesting is subject to continued employment with the Group and performance conditions.
Performance Conditions |
Disclosure of terms and conditions of share-based payment arrangement [line items] |
Summary of Key Terms and Conditions of Share-Based Compensation Based |
Plans | Evaluation date for performance conditions | Nature of internal conditions
SO C 2021 SO D 2021 SO US 2021 | 10/20/2024 | a.50% of the Stock Options will be exercisable if at least one of the following three conditions relating to the development of elafibranor in PBC and to the ELATIVE clinical trial is fulfilled: i.ELATIVE top-line results are released to the market before or during the second quarter of 2023; ii.a new drug application is filed for elafibranor in PBC with the Food and Drug Administration (FDA) or the European Medicines Agency (EMA) in the second half of 2023 or before; iii.elafibranor is approved by a regulatory authority in 2024. b.15% of the Stock Options will be exercisable if at least one of the following two conditions relating to the development of NTZ and the ACLF franchise is fulfilled: i.a phase 2 clinical study or a more advanced clinical study evaluating NTZ is in ongoing or was carried out; ii.the Company develops or acquires the rights to a new molecule (including through repositioning) for development in ACLF. a.15% of the Stock Options will be exercisable if at least one of the following two conditions relating to the NIS4 diagnostic technology is fulfilled: i.if a research and development partnership agreement relating to the implementation of the NIS4 diagnostic technology into an IVD test with at least one major NASH player (“big pharma”, biotech company, institution, etc.) is entered into by the Company; ii.Labcorp’s NASHnext LDT is reimbursed by at least three payers in the United States (insurance, integrated system, etc). a.20% of the Stock Options will be exercisable if at least one of the following two conditions relating to the development of the product pipeline of the Company is fulfilled: i.At least one new molecule (excluding elafibranor and NTZ) is developed by the Company or the Company has acquired development rights to a new molecule outside of the ACLF franchise (performance already covered by b(ii) above); ii.At least two phase 2 clinical studies or more advanced clinical studies are ongoing or have been completed ; not including a phase 2 clinical study or more advanced clinical study in NTZ (performance already covered by b(i) above).
Plans | Evaluation date for performance conditions | Nature of internal conditions
AGA D 2021 AGA S 2021 | 3/31/2024 | 50% of the 2021 free shares will vest if at least one of the three following conditions regarding development of elafibranor in PBC and the ELATIVE trial is met: (i) « Last Patient Visit »of ELATIVE in the 4th quarter 2022 or before; (ii) results of ELATIVE are communicated to the market before or during the first half 2023 ; (iii) the filing of an marketing authorization application for elafibranor in PBC with the FDA or EMA in 2023.
| 25% of the free shares will vest if at least one of the two following conditions related to NIS4 diagnostic technology are met : (i) an R&D agreement for an IVD test using NIS4 technology is signed with at least one major NASH player (big pharma, biotech, institution, etc) ; (ii) use of NIS4 technology in at least 20 clinical studies.
25% of the free shares will vest if at least one of the two following conditions related to the Company's product pipeline is met: : (i) a clinical study in a new indication with elafibranor or NTZ is underway or was completed ; (ii) development or in-licensing or acquisition of rights to a new compound by the Company.

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