WEBVTT

00:00:00.160 --> 00:00:02.840 align:center line:-1
Becoming an employee shareholder

00:00:03.160 --> 00:00:06.480 align:center line:-2
Hi Samir, I’ve worked at Michelin
for some months now,

00:00:06.800 --> 00:00:10.040 align:center line:-2
and I heard that you can be
an employee shareholder of the company.

00:00:10.120 --> 00:00:11.680 align:center line:-1
Isn’t that your case?

00:00:12.240 --> 00:00:14.400 align:center line:-1
Does it mean you own Michelin’s shares?

00:00:14.840 --> 00:00:16.320 align:center line:-1
Could you tell me how it works?

00:00:16.400 --> 00:00:18.000 align:center line:-1
Yes, I am a shareholder

00:00:18.080 --> 00:00:20.880 align:center line:-2
and that’s the case
of more than 70,000 employees.

00:00:20.960 --> 00:00:22.800 align:center line:-1
You know Anna, it’s very easy

00:00:22.880 --> 00:00:24.800 align:center line:-2
because the company
takes care of everything

00:00:24.880 --> 00:00:26.880 align:center line:-1
and it gives us a lot of advantages.

00:00:26.960 --> 00:00:30.560 align:center line:-2
Indeed, that’s more than
one employee out of two,

00:00:30.640 --> 00:00:31.680 align:center line:-1
that’s a lot!

00:00:32.080 --> 00:00:35.080 align:center line:-2
Tell me, how do you become
an employee shareholder?

00:00:35.160 --> 00:00:38.960 align:center line:-2
Because, honestly, I don’t know anything
about the stock exchange!

00:00:39.040 --> 00:00:40.160 align:center line:-1
Of course, Anna.

00:00:40.560 --> 00:00:43.280 align:center line:-1
First, you should know that as an employee,

00:00:43.360 --> 00:00:46.680 align:center line:-2
every year we can buy Michelin shares
at a discounted price

00:00:46.760 --> 00:00:48.000 align:center line:-1
compared to the market price.

00:00:48.080 --> 00:00:51.920 align:center line:-2
So it’s below market price,
how much is the discount?

00:00:52.000 --> 00:00:53.360 align:center line:-1
20%!

00:00:53.440 --> 00:00:55.680 align:center line:-1
See, it makes a real difference!

00:00:55.760 --> 00:00:57.560 align:center line:-1
Yes, I hear you,

00:00:57.640 --> 00:01:00.600 align:center line:-2
but the stock exchange
is still risky, isn’t it?

00:01:00.680 --> 00:01:03.920 align:center line:-2
For sure, there is always the risk
that the share price will fall.

00:01:04.000 --> 00:01:07.040 align:center line:-2
It is constantly evolving
according to supply and demand,

00:01:07.120 --> 00:01:10.080 align:center line:-2
the company’s perspectives,
the economic situation

00:01:10.160 --> 00:01:13.640 align:center line:-2
or the sector of activity
as well as geopolitical events.

00:01:13.720 --> 00:01:17.360 align:center line:-2
Past performance is not indicative
of future performance.

00:01:17.440 --> 00:01:19.560 align:center line:-1
So you have to accept the risk?

00:01:19.640 --> 00:01:22.440 align:center line:-2
That’s kind of true,
but to reduce this risk,

00:01:22.520 --> 00:01:24.240 align:center line:-1
in addition to the discount,

00:01:24.320 --> 00:01:26.840 align:center line:-2
Michelin offers a matching contribution
in shares.

00:01:26.920 --> 00:01:30.400 align:center line:-2
Also, the fact that BIB’Action
is now every year,

00:01:30.480 --> 00:01:34.640 align:center line:-2
gives us the opportunity to buy shares
at preferential terms more frequently,

00:01:34.720 --> 00:01:36.640 align:center line:-1
at a price set for each plan,

00:01:36.720 --> 00:01:39.920 align:center line:-2
thus mitigating the risk
linked to your investment.

00:01:40.000 --> 00:01:41.800 align:center line:-1
All right, I got it,

00:01:41.880 --> 00:01:44.000 align:center line:-1
so what’s a matching contribution?

00:01:44.080 --> 00:01:45.320 align:center line:-1
It’s very simple,

00:01:45.400 --> 00:01:47.560 align:center line:-1
when you buy one or several shares,

00:01:47.640 --> 00:01:50.000 align:center line:-2
Michelin offers a matching
number of shares!

00:01:50.080 --> 00:01:53.920 align:center line:-2
For each plan, you basically have
to take a look at the company’s offer

00:01:54.000 --> 00:01:55.800 align:center line:-1
based on your initial investment.

00:01:55.880 --> 00:01:59.120 align:center line:-2
And then, there’s no banking fees.
Michelin covers them.

00:01:59.200 --> 00:02:01.080 align:center line:-1
That’s cool!

00:02:01.160 --> 00:02:03.480 align:center line:-1
There are significant advantages!

00:02:03.560 --> 00:02:05.000 align:center line:-1
So what’s the downside?

00:02:05.080 --> 00:02:09.360 align:center line:-2
Well, in return you must keep
your shares for at least 5 years.

00:02:09.440 --> 00:02:12.240 align:center line:-2
During this period,
subject to the company’s decision,

00:02:12.320 --> 00:02:16.200 align:center line:-2
you will receive dividends proportionally
to the number of shares you hold,

00:02:16.280 --> 00:02:18.760 align:center line:-1
just like any Michelin shareholders.

00:02:18.840 --> 00:02:20.600 align:center line:-1
As an employee shareholder,

00:02:20.680 --> 00:02:24.320 align:center line:-2
you also get information
about the Group’s evolution and management

00:02:24.400 --> 00:02:27.440 align:center line:-2
and vote resolutions
at the Shareholders Meeting.

00:02:27.760 --> 00:02:29.720 align:center line:-1
Five years is quite long.

00:02:29.800 --> 00:02:32.960 align:center line:-1
What happens if I need my money before?

00:02:33.040 --> 00:02:35.880 align:center line:-1
Say to buy an apartment in 2 or 3 years.

00:02:35.960 --> 00:02:37.160 align:center line:-1
It’s possible.

00:02:37.240 --> 00:02:39.280 align:center line:-1
There are several cases of early release

00:02:39.360 --> 00:02:41.360 align:center line:-2
depending on the country
where you subscribed.

00:02:41.440 --> 00:02:43.160 align:center line:-1
Buying a home is one of them.

00:02:43.240 --> 00:02:46.280 align:center line:-1
OK, and if not, at the end of the 5 years,

00:02:46.360 --> 00:02:49.480 align:center line:-2
you can sell everything and get back
the money that you invested?

00:02:49.560 --> 00:02:53.160 align:center line:-2
Yes, you will be able to sell
 all or part of your shares.

00:02:53.240 --> 00:02:55.360 align:center line:-1
And of course, you can keep them as well!

00:02:55.440 --> 00:02:58.280 align:center line:-2
The amount you’ll get will depend
on the stock market price

00:02:58.360 --> 00:03:00.240 align:center line:-1
on the day you decide to sell.

00:03:00.320 --> 00:03:01.520 align:center line:-1
Super.

00:03:01.600 --> 00:03:03.880 align:center line:-2
And if I have any questions,
who can help me?

00:03:03.960 --> 00:03:05.600 align:center line:-1
As soon as you’ve subscribed,

00:03:05.680 --> 00:03:09.720 align:center line:-2
the Société Générale bank will create
a Shareinbox account for you.

00:03:09.800 --> 00:03:12.040 align:center line:-2
You can contact their customer
service at any time,

00:03:12.120 --> 00:03:14.400 align:center line:-1
or your employee shareholder contact.

00:03:14.800 --> 00:03:17.680 align:center line:-2
You will find all the information
on employee shareholders

00:03:17.760 --> 00:03:21.240 align:center line:-1
on www.shareaction.michelin.com.

00:03:21.320 --> 00:03:23.800 align:center line:-2
There is also the Michelin
Shareholders’ Committee,

00:03:23.880 --> 00:03:26.400 align:center line:-1
which includes three employee shareholders

00:03:26.480 --> 00:03:29.200 align:center line:-1
who may be contacted in case of questions.

00:03:29.280 --> 00:03:32.920 align:center line:-2
Thank you, Samir, for your great
explanations, it’s very clear.