Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 173

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 11
Chunk 173
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Management expects the rate of staff turnover to be 12%.    

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Using the Monte Carlo method, management expects the performance rate to be 80% on the IPSA and subsidiaries consolidated sales and 80.8% on the consolidated operating income.    

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As of December 31, 2022 management has updated its expectation related to the performance rate to be 100% for both consolidated sales and consolidated operating income based on the above assumptions, the total expenses related to this plan are valued at $4.1 million.    

As of December 31, 2023: 

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87,609 shares of IPSA Capital Stock, representing $4.1 million were purchased in the open market and allocated to this plan.   

$1.4 million of expense was recorded (or $1.6 million including social contributions).    

As of December 31, 2024: 

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96,371 shares of IPSA Capital Stock, representing $4.1 million were purchased in the open market and allocated to this plan.  

$1.4 million of expense was recorded (or $1.6 million including social contributions).    

Stock Appreciation Rights

Our stock option plans authorize us to grant stock appreciation rights, or SARs. An SAR represents a right to receive the appreciation in value, if any, of our common stock over the base value of the SAR. To date, we have not granted any SARs under our plans. While the Compensation Committee currently does not plan to grant any SARs under our plans, it may choose to do so in the future as part of a review of the executive compensation strategy. 

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Restricted Stock

We have not in the past, and we do not have any future plans to grant restricted stock to our executive officers. However, while the Compensation Committee currently does not plan to authorize any restricted stock plans, the Compensation Committee may choose to do so in the future as part of a review of the executive compensation strategy. 

Other Compensation

For 2024, each of Messrs. Benacin and Garcia-Pelayo received an automobile allowance of $11,690.

No Stock Ownership Guidelines

We do not require any minimum level of stock ownership by any of our executive officers. As stated above, Messrs. Madar and Benacin, are our largest beneficial shareholders, which aligns their interests with our shareholder base in keeping executive compensation at a reasonable level. 

Retirement and Pension Plans

We maintain a