PARIS Publicis Groupe said 136 key company executives, of the 159 eligible, have contributed to the company's co-executive investment program announced earlier this month.
Publicis created an independent structure, LionLead, to handle the personal capital contributions and between March 9-17 the entity acquired 1,772,152 Publicis shares for $47.3 million at an average price of $26.67 a share. That amount represents 0.9 percent of Publicis' outstanding shares. In trading today in Paris, Publicis shares closed at $27.62, up 1 percent.
The execs who subscribed to the stock co-investment program did not receive any company financing or guarantees for their investments, Publicis said.
On March 11, Publicis' supervisory board approved the program, whereby these Groupe investor-executives will receive free shares rewarding their loyalty and may also receive performance-related free shares based on organic growth operating margins as compared with that of its industry peers over a three-year period.