ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification No.)
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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☒
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Accelerated filer
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☐
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Non-accelerated filer
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☐
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Smaller reporting company
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Emerging growth company
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Auditor Name: |
Auditor Location: |
PCAOB ID |
• |
amend Part III, Item 11 of the Original Filing to include the information not previously included in such Items;
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• |
amend Part III, Item 12 of the Original Filing to include an updated description of the material features of the Constellium SE 2013 Equity Incentive Plan; and
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• |
amend Part IV, Item 15 of the Original Filing to include (i) an amended description of our ordinary shares as Exhibit 4.1, (ii) Amendment No. 6 to the Constellium SE 2013 Equity Incentive Plan as Exhibit 10.61, and (iii) new
certifications of our Principal Executive Officer and Principal Financial Officer as Exhibits 31.1 and 31.2, dated as of the date hereof.
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Page
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PART III
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Item 11
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1 |
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Item 12
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26 |
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PART IV
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Item 15
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29 |
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Signatures
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38 |
Name
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Position
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Jean-Marc Germain
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Chief Executive Officer (“CEO”)
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Jack Guo
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Senior Vice President and Chief Financial Officer (“CFO”)
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Ingrid Joerg
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Executive Vice President and Chief Operating Officer
President, Packaging, Automotive & Rolled Products business unit
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Philippe Hoffmann
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President, Aerospace & Transportation business unit
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Ryan Jurkovic
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Chief Human Resources Officer
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1) |
Total Compensation Approach. Pay and rewards are considered in their totality.
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2) |
Differentiated Pay Based on Performance and Value Creation. Compensation is differentiated in a way that recognizes the value that each executive creates
individually and collectively.
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3) |
Market Competitiveness. We use appropriate competitive data to inform, but not dictate, pay decisions.
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4) |
Well-conceived Pay Positioning, Pay Mix and Award Allocation. We consider both internal equity and external market comparisons in setting total direct
compensation; balance direct compensation components in a way that gives a competitive mix of cash and equity ownership, with higher percentages of equity the more senior the role; use a mix of metrics; and motivate executives to have an
ownership mindset and to align with shareholder interests by providing them the opportunity to own Company stock.
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Compensation
Component
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Link to Compensation Philosophy
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2024 Compensation Highlights
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Base Salary
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• Competitive base salaries help attract and retain executive talent
• Fixed cash compensation recognizes factors such as individual contribution, time in role, and scope of responsibility
• Reviewed annually and adjusted as appropriate
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• Merit and/or market-based increases for 2024, ranging from 0% to 7%
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Annual Cash Incentive (EPA)
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• Focus executives on achieving annually established financial, strategic, and individual goals that are key indicators of ongoing operational performance and support our business strategy
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• EPA awards were earned below target, with payouts as a percentage of target ranging from 34% to 39%
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Long-Term Equity Incentives
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• Incentivize and reward long-term gains in shareholder value, with vesting terms of three years to support retention while rewarding future growth
• Encourages executive ownership and alignment with external shareholders
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• Executives were awarded a combination of restricted stock units, or RSUs, and performance stock units, or PSUs
• PSUs that were eligible to be earned based on three-year relative total shareholder return (“TSR”) performance from May 2021 to May 2024, measured against the companies in the S&P MidCap 400 Materials
Index and the S&P SmallCap 600 Materials Index, were earned at 152% of target
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What We Do
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What We Don't Do
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✔ Grant compensation that is primarily at-risk and variable
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✘ Allow hedging or pledging of Company stock by directors or executive officers
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✔ Subject annual cash incentives and PSUs to measurable and rigorous goals
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✘ Reprice stock options
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✔ Use an independent compensation consultant on an ad-hoc basis
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✘ Provide excessive perquisites
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✔ Cap annual cash incentive payments at 150% of target and PSUs at 200% of target
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✘ Pay tax gross-ups on a change in control
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✔ Structure compensation to avoid excessive risk taking
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✘ Provide “single trigger” change in control payments
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✔ Provide competitive compensation that is compared against industry peer groups
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✘ Provide excessive severance benefits
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✔ Maintain a robust clawback policy
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Board of Directors
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• Approves the compensation philosophy, policies and structure with respect to the EPA and long-term equity incentive plan
• Reviews and approves the performance and remuneration of our Chief Executive Officer on an annual basis
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Human Resources Committee
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• Reviews and make recommendations to the Board with respect to our compensation philosophy, policies and structure with respect to the EPA and long-term equity incentive plan
• Reviews and recommends the corporate goals, performance and compensation structure of our Chief Executive Officer on an annual basis
• Reviews and approves recommendations on the compensation structure of the Chief Executive Officer’s direct reports on an annual basis
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Chief Executive Officer and Management
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• Management, including the Chief Executive Officer, develops preliminary recommendations regarding compensation matters with respect to all NEOs, other than the Chief Executive Officer, and provides these
recommendations to the Human Resources Committee
• Responsible for the administration of the compensation programs once Human Resources Committee decisions are finalized
• Chief Executive Officer is not involved in any decision as to his own compensation
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2024 North American Compensation Peer Group
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||||
Alcoa Corporation
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Commercial Metals Co.
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Ryerson Holding Corp.
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ATI Inc.
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Crown Holdings, Inc.
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Schnitzer Steel Industries, Inc.
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Arconic Corp.
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Kaiser Aluminum Corp.
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Steel Dynamics, Inc.
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Century Aluminum Co.
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Novelis Inc.
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Thor Industries, Inc.
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Cleveland-Cliffs Inc.
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Reliance, Inc.
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Worthington Enterprises, Inc.
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Name
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2023 Base Salary
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2024 Base Salary
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% Increase
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Jean-Marc Germain
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$1,115,000
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$1,115,000
|
|
—
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Jack Guo
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$525,000
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$540,000
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3%
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Ingrid Joerg(1)
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$945,804
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$988,607
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5%(2)
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Philippe Hoffmann(1)
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$611,994
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$656,235
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7%(2)
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Ryan Jurkovic
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$520,000
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$544,000
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5%
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(1) |
Amounts converted to U.S. dollars from Swiss francs based on the average exchange rate of 1.1127 and 1.1363 in 2023 and 2024.
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(2) |
The percentage base salary increases reflected for Ms. Joerg and Mr. Hoffmann are partially driven by increase in average exchange rates. Ms. Joerg’s base salary increased by 2% (CHF 850,008 in 2023 to CHF
870,012 in 2024) and Mr. Hoffmann’s by 5% (CHF 550,008 in 2023 to CHF 577,512 in 2024).
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•
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Financial Objectives(1)(4) — 65% (EPA Adjusted EBITDA(2) (50%) and EPA Adjusted Free Cash Flow(3) (15%))
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•
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Sustainability Objectives — 15% (Environmental, Health and Safety (“EHS”) (5%), Inclusion (5%), and Carbon Emissions (5%))
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• |
Individual Objectives — 20%
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(1) |
In 2024 and earlier years, the Company prepared consolidated audited financial statements solely under IFRS and euros. As such, the metrics used to set the 2024 EPA targets are based on the Company’s 2024
EPA Adjusted EBITDA and EPA Adjusted Free Cash Flow prepared under IFRS and presented in euros (as set forth in the following EPA table).
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(2) |
EPA Adjusted EBITDA is defined as income / (loss) from continuing operations before income taxes, results from joint ventures, net finance costs, other expenses and depreciation, amortization as adjusted to
exclude restructuring costs, impairment charges, unrealized gains or losses on derivatives and on foreign exchange differences on transactions that do not qualify for hedge accounting, metal price lag, share-based compensation expense,
non-operating gains / (losses) on pension and other post-employment benefits, expenses on factoring arrangements, effects of certain purchase accounting adjustments, start-up and development costs or acquisition, integration and
separation costs, certain incremental costs and other exceptional, unusual or generally non-recurring items, and as may be further adjusted by the Company on an annual basis to remove the impact of certain one-off or non-recurring events.
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(3) |
EPA Adjusted Free Cash Flow is defined as net cash flow from operating activities, less capital expenditures, net of property, plant and equipment inflows excluding factoring impacts and may be further
adjusted by the Company on an annual basis to remove the impact of certain one-off or non-recurring events.
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(4) |
The adjustments taken for EPA Adjusted EBITDA and EPA Adjusted Free Cash Flow are reviewed and approved by the Human Resources Committee. In fiscal year 2024 no additional adjustments were made.
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Metric
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Threshold
(0% of target)
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Target
(100% of target)
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Maximum
(200% of target)
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Actual
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% Achievement
(unweighted)
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|||||||||||||||
EPA Adjusted EBITDA(1)
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€
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665
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€
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740
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€
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815
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€
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542.4
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0%
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||||||||||
EPA Adjusted Free Cash Flow(1)
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€
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60
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€
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120
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€
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180
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€
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4.8
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0%
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(1)
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In millions and rounded. As disclosed above, the figures in the table are based on the Company’s 2024 results reported in euros and prepared under IFRS.
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• |
Mr. Germain: Driving financial performance by delivering budget, driving sustainable Free Cash Flow generation, advancing the overall strategy with sustainability as a competitive advantage, strengthening
the leadership pipeline for executive officer succession, and fostering growth in shareholder relations.
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• |
Mr. Guo: Executing the 2024 budget and financial objectives, refining M&A roadmap and strategy, driving high-value strategic initiatives, and advancing team development.
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• |
Ms. Joerg: Leading the strategic oversight of three business units, driving achievement of overall group financial performance and sustainability targets and developing leadership succession.
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• |
Mr. Hoffmann: Delivering 2024 budget and targeted operational performance while executing a long-term strategy to ensure the sustainable profitability of the A&T business.
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• |
Mr. Jurkovic: Implementing the human resources annual and strategic plan to enable business performance, driving talent and organizational development, executing rewards strategy and ensuring effective
human resources governance.
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Name
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2024 Target Bonus
(% of Base Salary)
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2024 Target Bonus
($)
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2024 Bonus Payout
(% of Target)
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2024 Bonus Payout
($)
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||||||||||||
Jean-Marc Germain
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140%
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$
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1,561,000
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34%
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$
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524,496
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||||||||||
Jack Guo
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90%
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$
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486,000
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34%
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$
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163,296
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||||||||||
Ingrid Joerg(1)
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90%
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$
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889,747
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34%
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$
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298,955
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||||||||||
Philippe Hoffmann(1)
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85%
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$
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557,800
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39%
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$
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215,331
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Ryan Jurkovic
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65%
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$
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353,600
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34%
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$
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118,810
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(1)
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Target bonus amounts and bonus payout amounts are converted to U.S. dollars from Swiss francs based on the average exchange rate of 1.1363 in fiscal year 2024.
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Award Type
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Description / Objective
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Restricted Stock Units
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• Cliff vest on the third anniversary of the grant date, subject to continued service
• Realized value linked to share price while supporting retention
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Performance Stock Units
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• Awarded to select executives to further incentivize performance
• PSUs may be earned from 0% - 200% of target shares awarded based on achievement against three-year relative TSR goals
• Performance is measured against the companies in the S&P MidCap 400 Materials Index and the S&P SmallCap 600 Materials Index
• Earned units vest on the third anniversary of the grant date, subject to continued service
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Constellium TSR
|
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% of Target PSUs Earned
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Below the average of the two 25th percentile TSRs of the comparator group
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0%
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Equal to the average of the two 25th percentile TSRs of the comparator group
|
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25%
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Between the average of the two 25th percentile TSRs and the average of the two median TSRs of the comparator group
|
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25% - 100%, determined by linear interpolation
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Equal to the average of the two median TSRs of the comparator group
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100%
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Between the average of the two median TSRs and the average of the two 75th percentile TSRs of the comparator group
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100% - 200%, determined by linear interpolation
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Equal to or above the average of the two 75th percentile TSRs of the comparator group
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200%
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Position
|
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Ownership Requirement
(multiple of base salary)
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Chief Executive Officer
|
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4x
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Chief Financial Officer and Business Unit Presidents
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2x
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All Other Executive Officers
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1x
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Name and
Principal Position
|
Fiscal
Year
|
Salary
($)
|
Bonus
($)
|
Stock
Awards
($)(1)
|
Non-Equity
Incentive Plan
Compensation
($)(2)
|
Change in
Pension Value and
Nonqualified
Deferred
Compensation
Earnings
($)(3)
|
All Other
Compensation
($)(4)
|
Total
($)(8)
|
|||||||||||||||||||||
Jean-Marc Germain
Chief Executive Officer(5)
|
2024
|
$
|
1,115,000
|
$
|
0
|
$
|
6,915,992
|
$
|
524,496
|
$
|
0
|
$
|
326,264
|
$
|
8,881,752
|
||||||||||||||
2023
|
$
|
1,115,000
|
$
|
0
|
$
|
6,452,077
|
$
|
2,074,569
|
$
|
0
|
$
|
321,347
|
$
|
9,962,993
|
|||||||||||||||
2022
|
$
|
1,115,000
|
$
|
0
|
$
|
5,662,557
|
$
|
1,966,979
|
$
|
0
|
$
|
194,474
|
$
|
8,939,010
|
|||||||||||||||
Jack Guo
Chief Financial Officer(6)
|
2024
|
$
|
536,250
|
$
|
0
|
$
|
1,383,193
|
$
|
163,296
|
$
|
0
|
$
|
104,429
|
$
|
2,187,167
|
||||||||||||||
2023
|
$
|
480,054
|
$
|
0
|
$
|
1,173,101
|
$
|
470,048
|
$
|
0
|
$
|
83,271
|
$
|
2,206,475
|
|||||||||||||||
Ingrid Joerg
Chief Operating Officer(7)
|
2024
|
$
|
982,925
|
$
|
0
|
$
|
1,175,715
|
$
|
298,955
|
$
|
191,676
|
$
|
124,763
|
$
|
2,774,033
|
||||||||||||||
2023
|
$
|
877,184
|
$
|
0
|
$
|
2,056,346
|
$
|
1,018,297
|
$
|
164,631
|
$
|
92,251
|
$
|
4,208,709
|
|||||||||||||||
2022
|
$
|
775,801
|
$
|
0
|
$
|
994,402
|
$
|
872,857
|
$
|
0
|
$
|
81,989
|
$
|
2,725,049
|
|||||||||||||||
Philippe Hoffmann
President, A&T(7)
|
2024
|
$
|
648,422
|
$
|
0
|
$
|
1,071,965
|
$
|
215,311
|
$
|
186,344
|
$
|
73,421
|
$
|
2,195,463
|
||||||||||||||
2023
|
$
|
605,037
|
$
|
0
|
$
|
1,099,792
|
$
|
699,143
|
$
|
252,519
|
$
|
66,002
|
$
|
2,722,494
|
|||||||||||||||
2022
|
$
|
536,385
|
$
|
0
|
$
|
994,402
|
$
|
596,420
|
$
|
0
|
$
|
59,802
|
$
|
2,187,008
|
|||||||||||||||
Ryan Jurkovic
Chief Human Resources Officer
|
2024
|
$
|
538,000
|
$
|
0
|
$
|
899,075
|
$
|
118,810
|
$
|
0
|
$
|
127,721
|
$
|
1,683,606
|
||||||||||||||
2023
|
$
|
515,000
|
$
|
0
|
$
|
916,483
|
$
|
442,442
|
$
|
0
|
$
|
119,538
|
$
|
1,993,463
|
|||||||||||||||
2022
|
$
|
493,750
|
$
|
0
|
$
|
828,652
|
$
|
408,527
|
$
|
0
|
$
|
85,295
|
$
|
1,816,224
|
(1) |
For fiscal year 2024, represents the aggregate grant date fair value of RSUs and PSUs granted in fiscal year 2024, computed in accordance with FASB ASC Topic 718. The total grant date fair value of the
PSUs that may be earned depending on our relative TSR remains the same whether the maximum, target, or below target performance is earned. The assumptions used in calculating the valuations are set forth in Note 22 to the Company's
consolidated financial statements for fiscal year 2024 including in the Company's Annual Report 10-K, filed with the SEC on February 28, 2025.
|
(2) |
For fiscal year 2024, represents performance-based amounts earned under our 2024 Annual Cash Incentive Plan (the EPA) as described in the CD&A under “Annual Cash Incentive Awards.” Mr. Germain and Guo
deferred a portion of their EPA payments into the DCRP, which deferral will be reflected in the DCRP during fiscal year 2025. See “Non-Qualified Deferred Compensation for Fiscal Year 2024” for more information.
|
(3) |
Reflects the aggregate change in the actuarial present value of benefits under the Constellium Basic Swiss Pension Plan for Ms. Joerg and Mr. Hoffmann.
|
(4) |
For fiscal year 2024, payments to our NEOs included in the “All Other Compensation” column include the following: Mr. Germain – parking, car allowance ($13,800), tax services; long-term disability, life
insurance, individual disability, and medical insurance premiums ($23,480); and, employer contributions to the DCRP ($247,468) and the 401(k) Plan ($22,931); Mr. Guo – car allowance ($13,800); long-term disability, life insurance,
individual disability, and medical insurance premiums ($23,480); and, employer contributions to the DCRP ($29,562) and the 401(k) Plan ($31,050); Ms. Joerg – car allowance, lunch allowance, and company car ($15,736); and employer
contribution to the Constellium Switzerland 1e Pension Fund (Plan 1e) ($104,936); Mr. Hoffmann – company car ($10,027); dental insurance premiums; and, employer contribution to the Constellium Switzerland 1e Pension Fund (Plan 1e)
($61,134); and, Mr. Jurkovic – parking; car allowance ($13,800); long-term disability, life insurance, individual disability, and medical insurance premiums ($23,301); and, employer contributions to the DCRP ($53,417) and the 401(k)
Plan ($23,969).
|
(5) |
Mr. Germain does not receive additional compensation to serve as an executive director.
|
(6) |
Mr. Guo was named Chief Financial Officer effective as of April 1, 2023. Prior to April 1, 2023, Mr. Guo was not a named executive officer.
|
(7) |
Cash payments to Ms. Joerg and Mr. Hoffmann are made in Swiss francs. All payments were converted using the average exchange rate for the applicable fiscal year of 1 CHF to 1.1363 in 2024, 1 CHF to 1.1127
USD in 2023 and 1 CHF to 1.0466 USD in 2022. The source of the exchange rate is European Central Bank.
|
(8) |
Items in the Total column may not foot due to rounding.
|
Estimated Future
Payouts Under
Non-Equity
Incentive Plans(1)
|
Estimated Future
Payouts Under
Equity
Incentive Plans(2)
|
All Other
Stock
Awards:
Number of
Shares of
Stock or
Units
(#)(2)(4)
|
Grant Date
Fair Value
of Stock
Awards
($)(5)
|
||||||||||||||||||||||||
Name
|
Grant
Date
|
Threshold
($)
|
Target
($)
|
Maximum
($)
|
Threshold
(#)
|
Target
(#)
|
Maximum
(#)
|
||||||||||||||||||||
Jean-Marc Germain
|
—
|
$
|
0
|
$
|
1,561,000
|
$
|
2,341,500
|
—
|
|||||||||||||||||||
3/14/2024
|
94,710
|
$
|
1,877,152
|
||||||||||||||||||||||||
3/14/2024
|
46,415
|
185,661
|
371,322
|
$
|
5,038,840
|
||||||||||||||||||||||
Jack Guo
|
—
|
$
|
0
|
$
|
486,000
|
$
|
729,000
|
—
|
|||||||||||||||||||
3/14/2024
|
18,942
|
$
|
375,430
|
||||||||||||||||||||||||
3/14/2024
|
9,283
|
37,132
|
74,264
|
$
|
1,007,762
|
||||||||||||||||||||||
Ingrid Joerg
|
—
|
$
|
0
|
$
|
889,747
|
$
|
1,334,620
|
—
|
|||||||||||||||||||
3/14/2024
|
16,101
|
$
|
319,122
|
||||||||||||||||||||||||
3/14/2024
|
7,891
|
31,562
|
63,124
|
$
|
856,593
|
||||||||||||||||||||||
Philippe Hoffmann
|
—
|
$
|
0
|
$
|
557,800
|
$
|
836,700
|
—
|
|||||||||||||||||||
3/14/2024
|
14,680
|
$
|
290,958
|
||||||||||||||||||||||||
3/14/2024
|
7,194
|
28,777
|
57,554
|
$
|
781,008
|
||||||||||||||||||||||
Ryan Jurkovic
|
—
|
$
|
0
|
$
|
353,600
|
$
|
530,400
|
—
|
|||||||||||||||||||
3/14/2024
|
12,312
|
$
|
244,024
|
||||||||||||||||||||||||
3/14/2024
|
6,034
|
24,136
|
48,272
|
$
|
655,051
|
(1) |
Represents awards that could have been earned under the EPA based on performance in fiscal year 2024. For additional information, please refer to the CD&A under “Annual Cash Incentive Plan” above.
Actual EPA payouts are reflected in the “Summary Compensation Table” under the “Nonequity Incentive Plan Compensation” column.
|
(2) |
Awards made pursuant to the Constellium SE 2013 Long Term Incentive Plan. With respect to the PSUs described in footnote (3) that may be earned depending on Constellium's relative TSR, the “Threshold”
column reflects the number of PSUs that will be earned if the lowest TSR performance goals are achieved, the “Target” column reflects the number of PSUs that will be earned if the TSR performance goals are achieved at target levels, and
the “Maximum” column reflects the maximum number of PSUs that could be earned if the highest level of performance is achieved.
|
(3) |
PSUs may be earned from 0% - 200% of target shares awarded based on achievement against three-year relative TSR goals measured against the companies in the S&P MidCap 400 Materials Index and the
S&P SmallCap 600 Materials Index. Earned PSUs vest on the third anniversary of the grant date, subject to continued service.
|
(4)
|
RSUs cliff vest on the third anniversary of the grant date, subject to continued service.
|
(5) |
The amounts included in this column reflect the aggregate grant date fair value of PSUs and RSUs granted to the NEOs in fiscal year 2024, computed in accordance with FASB ASC Topic 718, excluding the
effect of any estimated forfeitures.
|
Stock Awards
|
||||||||||||||||||
Name
|
Grant
Date
|
Number of Shares
or Units of Stock
That Have Not
Yet Vested
(#)(1)
|
Market Value of
Shares or Units
of Stock That
Have Not Yet Vested
($)(2)
|
Equity Incentive Plan
Awards: Number of
Unearned Shares, Units,
or Other Rights That
Have Not Yet Vested
(#)(3)
|
Equity Incentive Plan
Awards: Market or Payout
Value of Unearned Shares
Units, or Other Rights That
Have Not Yet Vested
($)(2)
|
|||||||||||||
Jean-Marc Germain
|
3/14/2024
|
94,710
|
$
|
972,672
|
||||||||||||||
3/14/2024
|
371,322
|
$
|
3,813,477
|
|||||||||||||||
3/9/2023
|
106,438
|
$
|
1,093,118
|
|||||||||||||||
3/9/2023
|
417,306
|
$
|
4,285,733
|
|||||||||||||||
3/10/2022
|
81,037
|
$
|
832,250
|
|||||||||||||||
3/10/2022
|
317,716
|
$
|
3,262,943
|
|||||||||||||||
Jack Guo
|
3/14/2024
|
18,942
|
$
|
194,534
|
||||||||||||||
3/14/2024
|
74,264
|
$
|
762,691
|
|||||||||||||||
3/9/2023
|
19,352
|
$
|
198,745
|
|||||||||||||||
3/9/2023
|
75,874
|
$
|
779,226
|
|||||||||||||||
Ingrid Joerg
|
3/14/2024
|
16,101
|
$
|
165,357
|
||||||||||||||
3/14/2024
|
63,124
|
$
|
648,283
|
|||||||||||||||
3/9/2023
|
18,143
|
$
|
186,329
|
|||||||||||||||
3/9/2023
|
71,132
|
$
|
730,526
|
|||||||||||||||
7/10/2023
|
56,301
|
$
|
578,211
|
|||||||||||||||
3/10/2022
|
14,231
|
$
|
146,152
|
|||||||||||||||
3/10/2022
|
55,794
|
$
|
573,004
|
|||||||||||||||
Philippe Hoffmann
|
3/14/2024
|
14,680
|
$
|
150,764
|
||||||||||||||
3/14/2024
|
57,554
|
$
|
591,080
|
|||||||||||||||
3/9/2023
|
18,143
|
$
|
186,329
|
|||||||||||||||
3/9/2023
|
71,132
|
$
|
730,526
|
|||||||||||||||
3/10/2022
|
14,231
|
$
|
146,152
|
|||||||||||||||
3/10/2022
|
55,794
|
$
|
573,004
|
|||||||||||||||
Ryan Jurkovic
|
3/14/2024
|
12,312
|
$
|
126,444
|
||||||||||||||
3/14/2024
|
48,272
|
$
|
495,753
|
|||||||||||||||
3/9/2023
|
15,119
|
$
|
155,272
|
|||||||||||||||
3/9/2023
|
59,276
|
$
|
608,765
|
|||||||||||||||
3/10/2022
|
11,859
|
$
|
121,792
|
|||||||||||||||
3/10/2022
|
46,494
|
$
|
477,493
|
(1) |
RSUs cliff vest on the third anniversary of the grant date, subject to continued service.
|
(2) |
Amounts reported are based on the closing price of our ordinary shares on the NYSE as of December 31, 2024, the last trading day of our fiscal year, of $10.27 per share.
|
(3) |
Annual PSUs may be earned from 0% - 200% of target shares awarded based on achievement against three-year relative TSR goals measured against the companies in the S&P MidCap 400 Materials Index
and the S&P SmallCap 600 Materials Index. Earned PSUs vest on the third anniversary of the grant date, subject to continued service. The number of shares presented for PSUs assume achievement at maximum performance as described
under the section titled “2024 Equity Grants” in the CD&A.
|
Stock Awards
|
||||||||
Name
|
Number of Shares
Acquired on Vesting
(#)
|
Value Realized
on Vesting
($)
|
||||||
Jean-Marc Germain
|
357,070
|
$
|
7,212,814
|
|||||
Jack Guo
|
13,002
|
$
|
262,640
|
|||||
Ingrid Joerg
|
62,546
|
$
|
1,263,429
|
|||||
Philippe Hoffmann
|
62,546
|
$
|
1,263,429
|
|||||
Ryan Jurkovic
|
51,010
|
$
|
1,030,402
|
Name
|
Plan
|
Number of Years
Credited Service
(#)(1)
|
Present Value of
Accumulated Benefit
($)(2)
|
Payments During
Last Fiscal Year
($)
|
||||||||||
Ingrid Joerg
|
Constellium Group Switzerland Pension Fund (Basic Plan)
|
9.80
|
$
|
1,389,512
|
$
|
0
|
||||||||
Philippe Hoffmann
|
Constellium Group Switzerland Pension Fund (Basic Plan)
|
10.50
|
$
|
1,681,743
|
$
|
0
|
(1) |
Years of credited service represent seniority within Constellium. They do not affect the calculation of benefits under the Basic Plan.
|
(2) |
The amounts in the table were calculated in Swiss francs and converted to U.S. dollars using the average exchange rate for 2024 (1 CHF to 1.1363 USD).
|
Name
|
Executive
Contributions
In Last FY
($)(1)
|
Company
Contributions
In Last FY
($)(2)
|
Aggregate
Earnings
In Last FY
($)(3)
|
Aggregate
Withdrawals/
Distributions
($)
|
Aggregate
Balance
At Last FYE
($)(4)
|
|||||||||||||||
Jean-Marc Germain
|
$
|
1,763,384
|
$
|
247,678
|
$
|
270,721
|
$
|
0
|
$
|
3,464,173
|
||||||||||
Jack Guo
|
$
|
0
|
$
|
29,562
|
$
|
13,036
|
$
|
0
|
$
|
163,395
|
||||||||||
Ingrid Joerg
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||
Philippe Hoffmann
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||||
Ryan Jurkovic
|
$
|
0
|
$
|
53,417
|
$
|
21,269
|
$
|
0
|
$
|
330,660
|
(1) |
Amounts represent the portion of the EPA award that each executive deferred during fiscal year 2024 (in respect of fiscal year 2023 compensation).
|
(2) |
Represents Constellium's restoration contributions under the DCRP that funded in fiscal year 2024 (in respect of fiscal year 2023 compensation). These contributions are also reported in the “Summary
Compensation Table” under the “All Other Compensation” column.
|
(3) |
None of the amounts shown in this column are included in the “Summary Compensation Table” because they are not preferential or above-market.
|
(4)
|
None of the amounts in this column were previously reported in the Summary Compensation Table for prior fiscal years as this is the first year that
Constellium has disclosed a Summary Compensation Table, however, a portion of the amounts in this column reflect executive and Company contributions for years prior to fiscal year 2024.
|
Prior to Change in Control
|
After a Change in Control
|
|||||||||||||||||
Name
|
Type of Payment
|
Involuntary Termination
W/o Cause or w/ Good reason
($)
|
Involuntary Termination
W/o Cause or w/ Good reason
($)
|
Death
($)
|
Disability
($)
|
|||||||||||||
Jean-Marc Germain
|
Cash Severance
|
$
|
2,676,000
|
$
|
5,352,000
|
—
|
—
|
|||||||||||
RSUs Unvested
|
—
|
$
|
2,898,040
|
$
|
2,898,040
|
$
|
2,898,040
|
|||||||||||
PSUs Unvested(2)
|
—
|
$
|
5,681,076
|
$
|
5,681,076
|
$
|
5,681,076
|
|||||||||||
Total
|
$
|
2,676,000
|
$
|
13,931,116
|
$
|
8,579,116
|
$
|
8,579,116
|
||||||||||
Jack Guo
|
Cash Severance(1)
|
$
|
1,026,000
|
$
|
1,026,000
|
—
|
—
|
|||||||||||
RSUs Unvested
|
—
|
$
|
393,279
|
$
|
393,279
|
$
|
393,279
|
|||||||||||
PSUs Unvested(2)
|
—
|
$
|
770,959
|
$
|
770,959
|
$
|
770,959
|
|||||||||||
Continued Health(3)
|
$
|
11,975
|
$
|
11,975
|
—
|
—
|
||||||||||||
Total
|
$
|
1,037,975
|
$
|
2,202,213
|
$
|
1,164,238
|
$
|
1,164,238
|
||||||||||
Ingrid Joerg
|
Cash Severance(1)
|
$
|
988,607
|
$
|
988,607
|
—
|
—
|
|||||||||||
RSUs Unvested
|
—
|
$
|
1,076,050
|
$
|
1,076,050
|
$
|
1,076,050
|
|||||||||||
PSUs Unvested(2)
|
—
|
$
|
975,907
|
$
|
975,907
|
$
|
975,907
|
|||||||||||
Total
|
$
|
988,607
|
$
|
3,040,564
|
$
|
2,051,956
|
$
|
2,051,956
|
||||||||||
Philippe Hoffmann
|
Cash Severance
|
—
|
—
|
—
|
—
|
|||||||||||||
RSUs Unvested
|
—
|
$
|
483,245
|
$
|
483,245
|
$
|
483,245
|
|||||||||||
PSUs Unvested(2)
|
—
|
$
|
947,305
|
$
|
947,305
|
$
|
947,305
|
|||||||||||
Total
|
$
|
0
|
$
|
1,430,549
|
$
|
1,430,549
|
$
|
1,430,549
|
||||||||||
Ryan Jurkovic
|
Cash Severance(1)
|
$
|
897,600
|
$
|
897,600
|
—
|
—
|
|||||||||||
RSUs Unvested
|
—
|
$
|
403,508
|
$
|
403,508
|
$
|
403,508
|
|||||||||||
PSUs Unvested(2)
|
—
|
$
|
791,006
|
$
|
791,006
|
$
|
791,006
|
|||||||||||
Continued Health(3)
|
$
|
11,884
|
$
|
11,884
|
—
|
—
|
||||||||||||
Total
|
$
|
909,484
|
$
|
2,103,998
|
$
|
1,194,514
|
$
|
1,194,514
|
(1) |
Cash severance amounts exclude potential additional payments in respect of restrictive covenant agreements, as described above for Messrs. Guo and Jurkovic and Ms. Joerg.
|
(2) |
PSU calculations, in each case, assume target performance. As described above, upon a termination following a change in control, PSU payouts are based on the greater of target or actual performance as
of the change in control, and upon a termination due to permanent disability, PSU payouts will be based on actual performance at the end of the vesting period.
|
(3) |
Continued health payment represents 6 months of COBRA coverage for Mr. Guo if health care continuation coverage is elected. For Mr. Jurkovic continued health includes 6 months of medical, dental and
vision care at Constellium’s expense.
|
Year
|
Summary
Compensation
Table Total
for PEO(1)
|
Compensation
Actually Paid
to PEO(2)
|
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs(3)
|
Average
Compensation
Actually Paid
to Non-PEO
NEOs(3) (4)
|
Value of Initial
Fixed $100
Investment Based
On:
|
Company
Net Income
($M)(7)
|
EPA
Adjusted
EBITDA
($M)(8)
|
|||||||||||||||||||||||||
Company
TSR(5)
|
Index
TSR(6)
|
|||||||||||||||||||||||||||||||
(a)
|
(b)
|
(c)
|
(d)
|
(e)
|
(f)
|
(g)
|
(h)
|
(i)
|
||||||||||||||||||||||||
2024
|
|
(
|
)
|
|
(
|
)
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||||||||||
2023
|
|
|
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||||||||||||
2022
|
|
(
|
)
|
|
|
$
|
|
$
|
|
$
|
|
$
|
|
(1) |
The dollar amounts reported in column (b) are the amounts of total compensation reported for
|
(2) |
The dollar amounts reported in column (c) represent the amount of CAP for Mr. Germain for each corresponding year, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts
reported do not reflect the actual amount of compensation earned by or paid to Mr. Germain during the applicable year. As computed in accordance with Item 402(v) of Regulation S-K, the following adjustments were made to Mr.
Germain’s total compensation for each year to determine the CAP values for Mr. Germain:
|
Year
|
SCT
Total for
CEO
|
Minus SCT
Change in
Pension
Value for
CEO
|
Plus
Pension
Value
Service
Cost
|
Minus SCT
Equity for
CEO
|
Plus
(Minus)
EOY Fair
Value of
Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
|
Plus
(Minus)
Change
from BOY
to EOY in
Fair Value
of Awards
Granted in
Any Prior
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
|
Plus
(Minus)
Change in
Fair Value
from BOY
to Vesting
Date of
Awards
Granted in
Any Prior
Fiscal Year
that Vested
During the
Fiscal Year
|
CEO CAP
|
||||||||||||||||||||||||
2024
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
(
|
)
|
||||||||||||||
2023
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||||||||
2022
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
(
|
)
|
(3) |
Reflects compensation amounts reported for the non-PEO NEOs, in the Summary Compensation Table, who were as follows:
|
|
|
|
|
|
|
|
2024
|
|
|
2023
|
|
|
2022
|
Jack Guo
|
|
|
Jack Guo
|
|
|
Peter Matt
|
Ingrid Joerg
|
|
|
Ingrid Joerg
|
|
|
Ingrid Joerg
|
Phillipe Hoffman
|
|
|
Phillipe Hoffman
|
|
|
Phillipe Hoffman
|
Ryan Jurkovic
|
|
|
Ryan Jurkovic
|
|
|
Ryan Jurkovic
|
(4) |
The dollar amounts reported in column (e) represent the amount of CAP for the non-PEO NEOs, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts reported do not reflect the
actual amount of compensation earned by or paid to these executive officers during the applicable year. As computed in accordance with Item 402(v) of Regulation S-K, the following adjustments were made to the non-PEO NEOs’ total
compensation for each year to determine the compensation actually paid:
|
Year
|
SCT
Total for
Average
Other
NEOs
|
Minus SCT
Change in
Pension
Value for
Average
Other
NEOs
|
Plus
Pension
Value
Service
Cost
|
Minus SCT
Equity for
Average
Other
NEOs
|
Plus
(Minus)
EOY Fair
Value of
Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
|
Plus
(Minus)
Change
from BOY
to EOY in
Fair Value
of Awards
Granted in
Any Prior
Fiscal Year
that are
Outstanding
and
Unvested at
EOY
|
Plus
(Minus)
Change in
Fair Value
from BOY
to Vesting
Date of
Awards
Granted in
Any Prior
Fiscal Year
that Vested
During the
Fiscal Year
|
Average
Other
NEOs CAP
|
||||||||||||||||||||||||
2024
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
(
|
)
|
|||||||||||||
2023
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
|||||||||||||||
2022
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
|
(5) |
Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement periods (beginning on December 31, 2021 and ending on December 31 of 2022, 2023, and 2024,
respectively) determined in accordance with Item 402(v) of Regulation S-K, assuming dividend reinvestment, and the difference between Constellium’s ordinary share price at the end and the beginning of the measurement periods by
Constellium’s ordinary share price at the beginning of the measurement period.
|
(6) |
Reflects total shareholder return indexed to $100 for the S&P 600 Materials Index (“Peer Group TSR”), which is an industry line peer group reported for the year ended December 31, 2024, and assuming
reinvestment of all dividends, where applicable.
|
(7) |
The dollar amounts reported represent the amount of net income (in millions) under U.S. GAAP reflected in Constellium’s 10-K filed on February 28, 2025.
|
(8) |
We determined
|



|
|
|
Materials Index and S&P MidCap 400 Materials Index |
• |
an annual fee of $86,568 for each non-executive director
|
• |
an additional annual fee of $54,105 for the Chairman of the Board
|
• |
an annual fee of $14,067 for members of the Audit Committee
|
• |
an additional annual fee of $21,642 for the Chair of the Audit Committee
|
• |
an annual fee of $10,821 for members of the Human Resources Committee
|
• |
an additional annual fee of $16,232 for the Chair of the Human Resources Committee
|
• |
an annual fee of $9,739 for members of the Nominating and Governance Committee
|
• |
an additional annual fee of $11,903 for the Chair of the Nominating and Governance Committee
|
• |
an annual fee of $9,739 for members of the Safety and Sustainability Committee
|
• |
an additional annual fee of $11,903 for the Chair of the Safety and Sustainability Committee
|
• |
annual cash of $190,000 for the Chairman of the Board
|
• |
annual cash of $110,000 for our other non-executive directors
|
Name
|
Fees Earned or
Paid in Cash
($)(1)
|
All Other
Compensation
($)(2)
|
Total
($)(3)
|
|||||||
Isabelle Boccon-Gibod
|
$
|
109,292
|
$
|
109,266
|
$
|
218,558
|
||||
Michiel Brandjes
|
$
|
117,949
|
$
|
109,266
|
$
|
227,215
|
||||
Martha Brooks
|
$
|
123,360
|
$
|
109,266
|
$
|
232,626
|
||||
Christine Browne
|
$
|
65,527
|
$
|
64,254
|
$
|
129,781
|
||||
Jean-Christophe Deslarzes
|
$
|
161,233
|
$
|
188,732
|
$
|
349,965
|
||||
John Ormerod
|
$
|
122,277
|
$
|
109,266
|
$
|
231,543
|
||||
Jean-Philippe Puig
|
$
|
107,128
|
$
|
109,266
|
$
|
216,394
|
||||
Lori A. Walker
|
$
|
132,016
|
$
|
109,266
|
$
|
241,282
|
||||
Jean Francois Verdier(4)
|
—
|
—
|
—
|
|||||||
Wiebke Weiler(4)
|
—
|
—
|
—
|
|||||||
Emmanuel Blot(5)
|
—
|
—
|
—
|
(1) |
Fees earned are paid in euros. The table above displays fees converted from euros to U.S. dollars using average exchange rate for fiscal year 2024 of 1 euro to 1.0821 U.S. dollars.
|
(2) |
The column reflects cash paid in lieu of RSU grants which are paid in euros. The column reflects euros converted to U.S. dollars using the average exchange rate for fiscal year 2024 of 1 euro to 1.0821
U.S. dollars.
|
(3) |
The total non-executive director compensation consists of fees paid in cash and cash paid in lieu of former RSU grants.
|
(4) |
Both of the non-executive employee directors had and continue to have employee contracts with subsidiaries of the Company and are paid remuneration in line with market practices and in accordance with
their positions as employees. They do not receive any fees for their services as non-executive employee directors.
|
(5) |
Mr. Blot does not receive any fees for his services as a non-executive director.
|
Item 12. |
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
|
Plan Category
|
Number of securities to be issued
upon exercise of outstanding
options, warrants and rights (1) (a) |
Weighted average exercise price of
outstanding options, warrants and
rights (b)
|
Number of securities remaining
available for future issuance under
equity compensation plans
(excluding securities reflected in
column a) (2)(c)
|
||||||
Equity compensation plans approved by shareholders
|
3,448,644
|
N/A
|
6,000,000
|
||||||
Equity compensation plans not approved by shareholders
|
N/A
|
N/A
|
N/A
|
||||||
Total
|
3,448,644
|
N/A
|
6,000,000
|
(1) |
Represents shares underlying awards that have been granted under the terms of the Constellium SE 2013 Equity Incentive Plan and are outstanding as of December 31, 2024. Table amounts are comprised of:
1,667,811 RSUs and 1,780,833 PSUs (assuming target achievement).
|
(2) |
This number reflects the number of securities available for issuance under the Constellium SE 2013 Equity Incentive Plan.
|
Name of beneficial owner of ordinary shares
|
Amount and Nature
of Beneficial
Ownership
|
As a percentage of the
Total Ordinary Shares
Outstanding
|
|||||
5% Shareholders
|
|||||||
T. Rowe Price Investment Management, Inc.
|
19,828,738
|
(1)
|
13.8%
|
||||
FMR LLC
|
14,643,776
|
(2)
|
10.2%
|
||||
Caisse des Dépôts (f/k/a Caisse des Dépôts et Consignations), Bpifrance Participations S.A., Bpifrance S.A. (f/k/a BPI-Groupe), EPIC Bpifrance (f/k/a EPIC
BPI-Groupe)
|
12,593,903
|
(3)
|
8.8%
|
||||
BlackRock, Inc.
|
12,439,991
|
(4)
|
8.7%
|
||||
Directors
|
|||||||
Michiel Brandjes
|
52,000
|
(5)
|
*
|
||||
John Ormerod
|
32,873
|
(6)
|
*
|
||||
Lori A. Walker
|
35,044
|
(7)
|
*
|
||||
Martha Brooks
|
211,741
|
(8)
|
*
|
||||
Isabelle Boccon-Gibod
|
33,000
|
(9)
|
*
|
||||
Jean-Christophe Deslarzes
|
29,935
|
(10)
|
*
|
||||
Jean-Philippe Puig
|
23,600
|
(11)
|
*
|
||||
Jean-François Verdier
|
41
|
(12)
|
*
|
||||
Wiebke Weiler
|
—
|
(13)
|
|||||
Emmanuel Blot
|
—
|
(14)
|
|||||
Named Executive Officers
|
|||||||
Jean-Marc Germain
|
1,667,762
|
(15)
|
1.1%
|
||||
Jack Guo
|
74,492
|
(16)
|
*
|
||||
Ingrid Joerg
|
186,691
|
(17)
|
*
|
||||
Philippe Hoffmann
|
135,425
|
(18)
|
*
|
||||
Ryan Jurkovic
|
130,739
|
(19)
|
*
|
||||
All executive officers and directors as a group (21 people)
|
2,927,265
|
(20)
|
2.0%
|
* |
Indicates ownership of less than 1% of the total outstanding shares
|
(1) |
This information is based on a Schedule 13G/A filed with the SEC on February 14, 2025 reporting beneficial ownership as of December 31, 2024. T. Rowe Price Investment Management, Inc. has sole
dispositive power with respect to 19,828,738 ordinary shares and sole voting power with respect to 19,773,586 ordinary shares. The principal business address of T. Rowe Price Investment Management, Inc. is 100 E. Pratt Street,
Baltimore, MD 21201.
|
(2) |
This information is based on a Schedule 13G/A filed with the SEC on February 9, 2024 reporting beneficial ownership as of December 29, 2023. FMR LLC has sole dispositive power with respect to 14,643,776
ordinary shares and sole voting power with respect to 14,642,537 ordinary shares. The principal business address of FMR LLC is 245 Summer Street, Boston, MA 02210.
|
(3) |
This information is based on a Schedule 13D/A filed with the SEC on June 6, 2024 reporting beneficial ownership as of June 5, 2024. Bpifrance Participations S.A. (“BPI”) holds directly 12,593,903
ordinary shares of the Company. As of the date listed above, neither Bpifrance S.A., Caisse des Dépôts (“CDC”) nor EPIC Bpifrance (“EPIC”) holds any ordinary shares directly. Bpifrance S.A. may be deemed to be the beneficial owner of
12,593,903 ordinary shares of the Company, indirectly through its sole ownership of BPI. CDC and EPIC may be deemed to be the beneficial owners of 12,593,903 ordinary shares of the Company, indirectly through their joint ownership and
control of Bpifrance S.A. The principal address for CDC is 56, rue de Lille, 75007 Paris, France and for BPI, Bpifrance S.A. and EPIC is 27-31 avenue du Général Leclerc, 94710 Maisons-Alfort Cedex, France.
|
(4) |
This information is based on a Schedule 13G filed with the SEC on November 8, 2024 reporting beneficial ownership as of September 30, 2024. BlackRock, Inc. has sole dispositive power with respect to
12,439,991 ordinary shares and sole voting power with respect to 12,314,920 ordinary shares. The principal business address of BlackRock, Inc. is 50 Hudson Yards, New York, NY 10001.
|
(5) |
Consists of 52,000 ordinary shares held directly by Mr. Brandjes.
|
(6) |
Consists of 32,873 ordinary shares held indirectly by Mr. Ormerod in a self-employed pension trust.
|
(7) |
Consists of 35,044 ordinary shares held directly by Ms. Walker.
|
(8) |
Consists of 211,741 ordinary shares, including: (i) 97,741 shares held directly by Ms. Brooks, as well as 22,000 shares held indirectly by Ms. Brooks in her husband's brokerage account for which she is
the beneficiary, and (ii) 92,000 ordinary shares indirectly held by Ms. Brooks through a family limited partnership for which she has shared voting power and shared dispositive power. Out of the 92,000 shares held by Ms. Brooks
through the family limited partnership, Ms. Brooks has beneficial ownership of 26,480 of such shares and her husband has beneficial ownership of 1,920 shares for which she is the beneficiary, and she disclaims beneficial ownership of
63,600 shares because she does not have the right to receive proceeds from the sale of, or dividends with respect to such shares.
|
(9) |
Consists of 33,000 ordinary shares held directly by Ms. Boccon-Gibod.
|
(10) |
Consists of 29,935 ordinary shares held directly by Mr. Deslarzes.
|
(11) |
Consists of 23,600 ordinary shares held directly by Mr. Puig.
|
(12) |
Consists of 41 ordinary shares held directly by Mr. Verdier and no RSUs or PSUs were granted to Mr. Verdier in 2024.
|
(13) |
No ordinary shares are held by Ms. Weiler and no RSUs or PSUs were to granted to Ms. Weiler in 2024.
|
(14) |
No ordinary shares are held by Mr. Blot.
|
(15) |
Consists of 1,667,762 ordinary shares held by Mr. Germain, including 517,762 held directly, 575,000 ordinary shares held directly through
the JMG Irrevocable Trust, and 575,000 ordinary shares held indirectly through the FG Irrevocable Trust, for which he is a beneficiary. Excludes the remaining portions of previous grants: 208,653 ordinary shares underlying unvested
PSUs that could vest on March 9, 2026, ranging from 0% to 200% of target, subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 106,438
ordinary shares underlying unvested RSUs that will vest on March 9, 2026, subject to continued service; 185,661 ordinary shares underlying unvested PSUs that could vest on March 14, 2027, ranging from 0% to 200% of target, subject
to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 94,710 ordinary shares underlying unvested RSUs that will vest on March 14, 2027, subject to
continued service; 336,543 ordinary shares underlying unvested PSUs that could vest on March 13, 2028, ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied
at the end of the three-year vesting period and 171,678 ordinary shares underlying unvested RSUs that will vest on March 13, 2028, subject to continued service.
|
(16) |
Consists of 72,492 ordinary shares held by Mr. Guo. Excludes the remaining portions of previous grants: 37,937 ordinary shares underlying unvested PSUs that could vest on March 9, 2026, ranging from 0%
to 200% of target, subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 19,352 ordinary shares underlying unvested RSUs that will vest on
March 9, 2026, subject to continued service; 37,132 ordinary shares underlying unvested PSUs that could vest on March 14, 2027, ranging from 0% to 200% of target, subject to continued service and certain market-related performance
conditions being satisfied at the end of the three-year vesting period and 18,942 ordinary shares underlying unvested RSUs that will vest on March 14, 2027, subject to continued service; 87,501 ordinary shares underlying unvested PSUs
that could vest on March 13, 2028, ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 44,636 ordinary shares
underlying unvested RSUs that will vest on March 13, 2028, subject to continued service.
|
(17) |
Consists of 186,691 ordinary shares held directly by Ms. Joerg. Excludes the remaining portions of previous grants: 35,566 ordinary shares underlying unvested PSUs that could vest on March 9, 2026,
ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 18,143 ordinary shares underlying unvested RSUs that will
vest on March 9, 2026, subject to continued service; 56,301 ordinary shares underlying unvested RSUs that will vest on July 10, 2026, subject to continued service; 31,562 ordinary shares underlying unvested PSUs that could vest on
March 14, 2027, ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 16,101 ordinary shares underlying
unvested RSUs that will vest on March 14, 2027, subject to continued service; 67,309 ordinary shares underlying unvested PSUs that could vest on March 13, 2028, ranging from 0% to 200% of target subject to continued service and
certain market-related performance conditions being satisfied at the end of the three-year vesting period and 34,336 ordinary shares underlying unvested RSUs that will vest on March 13, 2028, subject to continued service.
|
(18) |
Consists of 135,425 ordinary shares held directly by Mr. Hoffmann. Excludes the remaining portions of previous grants: 35,566 ordinary shares underlying unvested PSUs that could vest on March 9, 2026,
ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 18,143 ordinary shares underlying unvested RSUs that will
vest on March 9, 2026, subject to continued service; 28,777 ordinary shares underlying unvested PSUs that could vest on March 14, 2027, ranging from 0% to 200% of target subject to continued service and certain market-related
performance conditions being satisfied at the end of the three-year vesting period and 14,680 ordinary shares underlying unvested RSUs that will vest on March 14, 2027, subject to continued service; 53,847 ordinary shares underlying
unvested PSUs that could vest on March 13, 2028, ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 27,468
ordinary shares underlying unvested RSUs that will vest on March 13, 2028, subject to continued service.
|
(19) |
Consists of 130,739 ordinary shares held directly by Mr. Jurkovic. Excludes the remaining portions of previous grants: 29,638 ordinary shares underlying unvested PSUs that could vest on March 9, 2026,
ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 15,119 ordinary shares underlying unvested RSUs that will
vest on March 9, 2026, subject to continued service; 24,136 ordinary shares underlying unvested PSUs that could vest on March 14, 2027, ranging from 0% to 200% of target subject to continued service and certain market-related
performance conditions being satisfied at the end of the three-year vesting period and 12,312 ordinary shares underlying unvested RSUs that will vest on March 14, 2027, subject to continued service; 45,433 ordinary shares underlying
unvested PSUs that could vest on March 13, 2028, ranging from 0% to 200% of target subject to continued service and certain market-related performance conditions being satisfied at the end of the three-year vesting period and 23,177
ordinary shares underlying unvested RSUs that will vest on March 13, 2028, subject to continued service.
|
(20) |
Consists of 2,927,265 ordinary shares held by all executive officers and directors.
|
Exhibit
|
Description
|
|
3.1
|
||
4.1
|
||
4.2
|
||
4.3
|
||
4.4
|
||
4.5
|
||
4.6
|
||
4.7
|
||
4.8
|
4.9
|
||
10.1
|
||
10.2
|
||
10.3
|
||
10.4
|
||
10.5
|
||
10.6
|
||
10.7
|
||
10.8
|
||
10.9
|
||
10.10
|
||
10.11
|
10.12
|
||
10.13
|
||
10.14
|
||
10.15
|
||
10.16
|
||
10.17
|
||
10.18
|
||
10.19
|
||
10.20
|
||
10.21
|
||
10.22
|
||
10.23
|
||
10.24
|
||
10.25
|
||
10.26
|
10.27
|
||
10.28
|
||
10.29
|
||
10.30
|
||
10.31
|
||
10.32
|
||
10.33
|
||
10.34
|
||
10.35
|
||
10.36
|
||
10.37
|
10.38
|
||
10.39
|
||
10.40
|
||
10.41
|
||
10.42
|
||
10.43
|
||
10.44
|
||
10.45
|
||
10.46
|
||
10.47
|
10.48
|
||
10.49
|
||
10.50
|
||
10.51
|
||
10.52
|
||
10.53
|
||
10.54
|
||
10.55
|
||
10.56
|
||
10.57
|
10.58
|
||
10.59
|
||
10.60
|
||
10.61
|
||
10.62
|
||
10.63
|
||
10.64
|
||
10.65
|
||
10.66
|
||
10.67
|
||
10.68
|
||
10.69
|
||
10.70
|
||
10.71
|
||
10.72
|
||
10.73
|
10.74
|
||
10.75
|
||
10.76
|
||
10.77
|
||
10.78
|
||
10.79
|
||
10.80
|
||
10.81
|
||
14.1
|
||
19.1
|
||
21.1
|
||
23.1
|
||
31.1
|
||
31.2
|
||
31.3
|
||
31.4
|
||
32.1
|
||
32.2
|
||
97.1
|
||
101.INS
|
Inline XBRL Instance Document
|
|
101.SCH
|
Inline XBRL Taxonomy Extension Schema Document
|
|
101.CAL
|
Inline XBRL Taxonomy Extension Calculation Linkbase Document
|
101.DEF
|
Inline XBRL Taxonomy Extension Definition Linkbase Document
|
|
101.LAB
|
Inline XBRL Taxonomy Extension Label Linkbase Document
|
|
101.PRE
|
Inline XBRL Taxonomy Extension Presentation Linkbase Document
|
|
104
|
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
|
|
|
Constellium SE
|
Date: April 15, 2025
|
By
|
/s/ Jean-Marc Germain
|
Jean-Marc Germain
|
||
Chief Executive Officer and Director
|