[kkfx]

Sorry I'm European, I mean "private" in the sense "not a Public Body", they are a company whose board has approved the remuneration using the company's own funds, meaning that the majority of shareholders are happy with this pay package.

[vasco]

The meaning is the same in "European". I'm Portuguese.

[rkomorn]

I'm French and the meaning is similar to what OP described in French "European".