Italcementi approved the creation of a stock option plan for Managers by its Board’s resolution of March 20, 2000 and the stock option plan for Directors during the Board meeting held on May 9, 2001.
Stock option plan for Directors
This Plan is addressed to a limited number of Directors sitting on the Board of Italcementi and its subsidiaries, namely Directors holding special positions or performing specific operating functions.
The plan reflects the desire to tie overall remuneration of the plan recipients to the medium/long-term success of the company and to creation of shareholder value, and also to reward achievement, by creating conditions that maximize the involvement of all senior management in reaching the company's goals.
In accordance with the criteria established by the Remuneration Committee and in connection with the essential nature of the managers’ positions and organizational level, Italcementi S.p.A.'s CEO determines who among the managerial staff of Italcementi and its subsidiaries is eligible for the stock option plan.
The Plan’s objectives reflect those described in the Stock Option Plan for Directors, with special emphasis being placed on enhancing the managers’ sense of belonging and motivating them to remain with the company.