exécuter le management package

English translation: implement the management package/management incentive plan

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:exécuter le management package
English translation:implement the management package/management incentive plan
Entered by: Una D.

12:14 Nov 13, 2019
French to English translations [PRO]
Bus/Financial - Finance (general)
French term or phrase: exécuter le management package
Context: a company report on recent activities and performance. I think I need some help on a rather technical paragraph:

"Les objectifs étant réalisés, nous nous inscrivons dans un processus de renouvellement de notre actionnariat, XX notre actionnaire majoritaire nous ayant indiqué son souhait de réaliser sa plus-value. Cette sortie conjointe permet également aux salariés associés d’exécuter le management package et de réaliser la plus-value."

What I understand from this is that tag-along rights allow employees to sell their shares at the same time as the main shareholder. I'm not sure whether this term "management package" would be used in English, or if something like an employee stock ownership plan (ESOP) is equivalent, in which case would we say "sell off an ESOP"?

Thanks for your help!
Una D.
France
Local time: 07:01
implement the management package
Explanation:
A package can refer to remuneration - it means the total benefits you receive, including things like share options.

Management package
We offer you a cross-functional and tailor-made approach to structuring and negotiating compensation packages for key executives and employees
http://menloavocats.com/en/expertise/management-package/
Selected response from:

philgoddard
United States
Grading comment
Thanks, I like "implement", it seems the client also uses Management Incentive Plan interchangeably
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1implement the management package
philgoddard
2claim the management package benefits (and bonus)
Stephanie Benoist
2roll over their equity / activate their incentive scheme
Wolf Draeger


  

Answers


52 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
implement the management package


Explanation:
A package can refer to remuneration - it means the total benefits you receive, including things like share options.

Management package
We offer you a cross-functional and tailor-made approach to structuring and negotiating compensation packages for key executives and employees
http://menloavocats.com/en/expertise/management-package/

philgoddard
United States
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 206
Grading comment
Thanks, I like "implement", it seems the client also uses Management Incentive Plan interchangeably

Peer comments on this answer (and responses from the answerer)
agree  AllegroTrans
3 hrs
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2 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
roll over their equity / activate their incentive scheme


Explanation:
From what I can tell, a management package is pretty much an incentive scheme for top managers revolving around options/warrants/shares, but the term itself seems specific to France, I haven't come across it before.

The mechanics of such arrangements in France come into play in the event of an LBO, with major tax implications. The point of these packages is to ensure managers retain (or improve) all the benefits of their previous equity positions, thus bringing them on board the buyout.

The closest equivalent I can find in English is "equity rollover", which is a common term but not as 'formal' as the FR, so I'm not sure.

Also not sure if the plus-values at the end of the sentence in question relates to capital gains (which only come into effect once options or shares are sold) or to profits or dividends.

Wikipedia link at the bottom for general context, more specific links below.

--------------------------------------------------
Note added at 2 hrs (2019-11-13 14:27:50 GMT)
--------------------------------------------------

https://www.valuationresearch.com/pure-perspectives/rollover...
http://www.docdep.com/blog/rollover-equity-what-is-it-and-wh...
https://uk.practicallaw.thomsonreuters.com/4-379-9776?transi...

https://www.divestopedia.com/2/5178/pre-sale/preparation/con...

https://www.lesechos.fr/2006/10/les-ecueils-du-management-pa...
https://lexpansion.lexpress.fr/actualite-economique/tout-sav...
https://www.agefi.fr/financements-marches/actualites/hebdo/2...
https://blog.valoxy.org/management-package-utilite-risques/
https://www.journaldunet.com/management/expert/30992/le-mana...
https://www.scottopartners.com/wp-content/uploads/2016/04/LB...
https://www.actualitesdudroit.fr/browse/affaires/societes-et...

Example sentence(s):
  • This joint exit also enables employee shareholders to roll over their equity [...]
  • This joint exit also enables employee shareholders to activate their management incentive scheme [...]

    Reference: http://en.wikipedia.org/wiki/Leveraged_buyout
Wolf Draeger
South Africa
Local time: 08:01
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 18

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: You may well be right, but I think it's unwise to change what is already a comprehensible term
2 hrs
  -> Fair enough, but the meaning seems much narrower in FR and tied to LBOs in particular.

neutral  Steve Robbie: I wouldn't say it's automatically comprehensible - "management package" does seem to mean something very specific in French - but I'm loth to change terms that are already in English. Not least because it can cause confusion in subsequent discussions.
3 hrs
  -> Point taken, but if the term means something different or much broader in EN, using it would also create confusion down the line.

neutral  philgoddard: Surely they're not rolling it over, they're cashing it in.
4 hrs
  -> That's what I'm unsure of. If the managers are staying, they're likely rolling it over, but if they're leaving, then yes, they're cashing it in.
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10 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
claim the management package benefits (and bonus)


Explanation:
the "package" is now available

Stephanie Benoist
France
Local time: 07:01
Native speaker of: Native in EnglishEnglish
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