Global energy organisation Total, which employs 96,000 members of staff, has made changes to its employee shareholder proposition.
From 2017, employees will be given the option to purchase shares with a discount of up to 20% every year instead of every two to three years. The organisation will match the first five shares purchased by an employee with an additional five free shares.
Total is also increasing the number of performance shares awarded in 2016 by 20% compared to 2015.
Over 10,000 non-executive employees will receive performance shares in 2016. The annual renewal rate is 40% of recipients, with the first 150 shares awarded without performance conditions. The performance shares vest after three years and must be held for an additional two years after vesting.
The amendments were approved by the organisation's board of directors on 27 July 2016.
Total’s employee shareholders represent more than 4.8% of its capital.
Patrick Pouyanne, chairman and chief executive officer at Total, said: “Developing employee share ownership is, in our view, the best response to the debate regarding shareholder return and employee compensation. It aligns the interests of both with the collective interests of the [organisation].
“Total also benefits from a stable core of shareholders made up of employees, who are represented on the board of directors by a member elected from among those proposed by the employees.”
