Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 176

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 11
Chunk 176
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1,008,585

2022
 
454,896
 
436,995
 
139,077
 
-0-
 
32,485
 
16,006
 
-0-
 
1,079,459

Frédéric Garcia-Pelayo,
 
2024
 
515,616
 
-0-
 
-0-
 
-0-
 
31,688
 
18,969
 
2,243,490 (6)
 
2,809,763

Executive Vice President and
 
2023
 
495,668
 
457,714
 
-0-
 
-0-
 
37,603
 
17,600
 
11,678
 
1,020,263

Chief Operating Officer Interparfums SA
 
2022
 
454,896
 
436,995
 
139,077
 
-0-
 
32,485
 
16,006
 
11,372
 
1,090,831

61   

 1
 Amounts reflected under Option Awards represent the grant date fair values in 2024, 2023 and 2022 based on the fair value of stock option awards using a Black-Scholes option pricing model. The assumptions used in this model are detailed in Footnote 12 to the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2024 and filed with the SEC.     

2
As required by French law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service, including executive officers of our European based operations other than Mr. Benacin, the Chief Executive Officer of Interparfums SA. Benefits are calculated based upon a percentage of taxable income of Interparfums SA and are allocated to employees based upon salary. The maximum amount payable per year is approximately $31,688.    

Calculation of total annual benefits contribution is made according to the following formula:

50% of (Interparfums SA fiscal income after taxes, less 2.5% of shareholders’ equity excluding current year income and pension provision) times a fraction, the numerator of which is wages, and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization expenses + interest expenses.

Contribution to individual employees is then made pro rata based upon their individual salaries for the year.

3
The following