French Commercial code
In forceI.-The provisions of the Articles of Association concerning the case of free share allocations to certain categories of a company's salaried employees provided for in the third sentence of the second paragraph of Article L. 225-197-1 is not applicable to companies whose shares are admitted to trading on a regulated market.
II.-In a company whose shares are admitted to trading on a regulated market, at the end of the holding obligation period, the shares allocated pursuant to Article L. 225-197-1 may not be sold:
1° Within the period of thirty calendar days prior to the announcement of an interim financial report or a year-end report that the issuer is required to make public;
2° By members of the board of directors or supervisory board, by members of the management board or exercising the functions of chief executive officer or deputy chief executive officer and by employees with knowledge of inside information, within the meaning of Article 7 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, which has not been made public.
III.-In companies whose shares are admitted to trading on a regulated market, the allocation of shares to corporate officers pursuant to the provisions of Article L. 225-197-1 is carried out under the conditions provided for, as the case may be, in Article L. 22-10-8, in article L. 22-10-30 or article L. 22-10-76.
