Annual Report 2022

Annual Report 2022

Remuneration of Non-Executive Directors

The remuneration of the individual members of the Board of Directors is determined by the Board of Directors, at the recommendation of our remuneration and nomination committee, within the limits of the remuneration policy adopted by the shareholders at a General Meeting. The description below reflects the remuneration policy approved at our 2022 General Meeting.

Pursuant to the remuneration policy, the remuneration of the non-executive directors consists of the following fixed and variable components:

  • a fixed fee;
  • if applicable, a fee for chairing the audit and compliance committee, the research and development committee, the remuneration and nomination committee or the commercial committee;
  • a fixed fee for board committee membership; and
  • a long-term variable incentive in the form of stock options and RSUs.

Fixed fee

The Board of Directors has set the annual base remuneration, the annual remuneration for members of the audit and compliance committee, the research and development committee, the remuneration and nomination committee and the commercial committee and, in each case, the additional remuneration for the respective chairperson as follows:

Relevant Body

 

Position

 

Fees (in $)

 

Fees (in €)

Board of Directors

 

Chairperson

 

79,024

 

75,000

 

 

Member

 

47,414

 

45,000

Audit and compliance committee/
Research and development committee

 

Chairperson

 

15,805

 

15,000

 

 

Member

 

7,902

 

7,500

Remuneration and nomination committee

 

Chairperson

 

10,537

 

10,000

 

 

Member

 

5,268

 

5,000

Commercial committee

 

Chairperson

 

10,537

 

10,000

 

 

Member

 

5,268

 

5,000

Research and development committee

 

Chairperson

 

15,805

 

15,000

 

 

Member

 

7,902

 

7,500

In 2022, the non-executive director cash remuneration was increased by €10,000 to re-align with the benchmark. These fees had not been increased to re-aligned the benchmark since our Euronext initial public offering in 2014.

Long-term incentive plan

Non-executive directors receive stock options and/or RSUs from time to time, ensuring an overall fair and competitive remuneration that is in line with the remuneration practices of our reference companies. The conditions of our Equity Incentive Plan apply to our non-executive directors, as set forth in section “Remuneration of Non-Executive Directors”.

The following table sets forth the information regarding the compensation earned by our non-executive directors during the fiscal year ended December 31, 2022:

Name

 

Fees earned or paid in cash (in $)

 

Option awards
(in $) 1)

 

RSU awards
(in $) 2)

 

Total
(in $)

Peter K.M. Verhaeghe

 

92,194

 

456,407

 

230,130

 

778,731

Werner Lanthaler

 

68,487

 

–

 

–

 

68,487

Pamela Klein

 

55,317

 

444,481

 

230,130

 

729,927

J. Donald deBethizy

 

65,853

 

444,481

 

230,130

 

740,464

Anthony A. Rosenberg

 

60,585

 

444,481

 

230,130

 

735,195

James M. Daly

 

65,853

 

444,481

 

230,130

 

740,464

Yvonne Greenstreet

 

7,044

 

–

 

–

 

7,044

Camilla Sylvest

 

17,561

 

741,510

 

353,738

 

1,112,808

Ana Cespedes

 

4,390

 

666,721

 

345,194

 

1,016,306

1)

These amounts do not reflect the actual economic value realized by the non-executive directors. Amounts shown represent the expenses with respect to the stock option awards granted in 2022 to the non-executive directors measured using the Black Scholes formula. For a description of the assumptions used in valuing these awards, see note 13 to our consolidated financial statements in section 6 “< a cfs>Consolidated Financial Statements”.

2)

These amounts do not reflect the actual economic value realized by the non-executive directors. Amounts shown represent the expenses with respect to the RSUs awards granted in 2022 to the nonexecutive directors measured using the Black Scholes formula. For a description of the assumptions used in valuing these awards, see note 13 to our consolidated financial statements in section 6 “< a cfs>Consolidated Financial Statements”.

The table below shows (i) the stock options held at January 1, 2022, (ii) the stock options granted to the non-executive directors which have vested during the year ended December 31, 2022, (iii) the number of stock options scheduled to vest in the years ending December 31, 2023, December 31, 2024 and December 31, 2025 and (iv) the respective exercise price of such stock options:

Remuneration in Stock Options Non-Executive Directors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Opening balance

 

During the Year

 

Closing balance

Name of Directors, Position

 

Specifi­cation of plan

 

Perfor­mance
period

 

Award date

 

Vesting date 1)

 

End of retention period

 

Exercise period

 

Exercise price of stock option (in €)

 

Stock options held at the begin­ning
of the year

 

Stock options awar­ded

 

Stock options exer­cised

 

Stock options vested during the year

 

Stock options subject to a perfor­mance condition

 

Stock options awar­ded and unvested

 

Stock options held at the end of the year

 

Stock options subject to a reten­tion period

Peter Verhaeghe

 

Equity Incentive Plan

 

29/06/2012–
29/06/2015

 

29/06/2012

 

Please
refer to
footnote.

 

N/A

 

01/01/2016–
29/06/2022

 

2.44

 

8,741

 

–

 

(8,741)

 

–

 

–

 

–

 

–

 

N/A

 

 

30/09/2014–
30/09/2017

 

30/09/2014

 

 

N/A

 

30/09/2015–
30/09/2024

 

2.44

 

2,885

 

–

 

–

 

–

 

–

 

–

 

2,885

 

N/A

 

 

30/09/2014–
30/09/2017

 

30/09/2014

 

 

N/A

 

30/09/2015–
30/09/2024

 

3.95

 

1,969

 

–

 

–

 

–

 

–

 

–

 

1,969

 

N/A

 

 

18/12/2014–
18/12/2017

 

18/12/2014

 

 

N/A

 

18/12/2015–
18/12/2024

 

7.17

 

5,000

 

–

 

–

 

–

 

–

 

–

 

5,000

 

N/A

 

 

16/06/2016–
18/06/2019

 

18/06/2016

 

 

N/A

 

18/06/2017–
18/06/2026

 

11.38

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

N/A

 

 

21/12/2018–
21/12/2021

 

21/12/2018

 

 

N/A

 

21/12/2019–
21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

N/A

 

 

20/12/2019–
20/12/2022

 

20/12/2019

 

 

N/A

 

20/12/2020–
20/12/2029

 

135.75

 

10,000

 

–

 

–

 

3,333

 

–

 

–

 

10,000

 

N/A

 

 

21/12/2020–
21/12/2023

 

21/12/2020

 

 

N/A

 

21/12/2021–
21/12/2030

 

247.60

 

10,000

 

–

 

–

 

3,334

 

3,333

 

3,333

 

10,000

 

N/A

 

 

24/12/2021–
24/12/2024

 

24/12/2021

 

Upon third anniversary of the grant

 

24/12/2024

 

24/12/2024–
24/12/2031

 

309.20

 

2,700

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

 

 

23/12/2022–
23/12/2025

 

23/12/2022

 

 

23/12/2025

 

23/12/2025–
23/12/2032

 

359.60

 

–

 

2,700

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

61,295

 

2,700

 

(8,741)

 

6,667

 

8,733

 

8,733

 

55,254

 

5,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yvonne Greenstreet

 

Equity Incentive Plan

 

01/07/2021–
03/03/2022

 

01/07/2021

 

Upon first anniversary of the grant

 

01/07/2022

 

01/07/2022–
01/07/2031

 

255.10

 

1,350

 

–

 

–

 

1,350

 

–

 

–

 

1.350

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,350

 

–

 

–

 

1,350

 

–

 

–

 

1,350

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Werner Lanthaler

 

Equity Incentive Plan

 

21/12/2018–
21/12/2021

 

21/12/2018

 

Please refer to footnote.

 

N/A

 

21/12/2019–
21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

 

20/12/2019–
20/12/2022

 

20/12/2019

 

 

N/A

 

20/12/2020–
20/12/2029

 

135.75

 

5,580

 

–

 

–

 

3,333

 

–

 

–

 

5,580

 

–

 

 

21/12/2020–
21/12/2023

 

21/12/2020

 

 

N/A

 

21/12/2021–
21/12/2030

 

247.60

 

10,000

 

–

 

–

 

3,334

 

3,333

 

3,333

 

10,000

 

N/A

 

 

24/12/2021–
24/12/2024

 

24/12/2021

 

Upon third anniversary of the grant

 

24/12/2024

 

24/12/2024–
24/12/2031

 

309.20

 

2,700

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

28,280

 

–

 

–

 

6,667

 

6,033

 

6,033

 

28,280

 

2,700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

J. Donald deBethizy

 

Equity Incentive Plan

 

16/06/2016–
18/06/2019

 

18/06/2016

 

Please refer to footnote.

 

N/A

 

18/06/2017–
18/06/2026

 

11.38

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

N/A

 

 

21/12/2018–
21/12/2021

 

21/12/2018

 

 

N/A

 

21/12/2019–
21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

N/A

 

 

20/12/2019–
20/12/2022

 

20/12/2019

 

 

N/A

 

20/12/2020–
20/12/2029

 

135.75

 

10,000

 

–

 

–

 

3,333

 

–

 

–

 

10,000

 

N/A

 

 

21/12/2020–
21/12/2023

 

21/12/2020

 

 

N/A

 

21/12/2021–
21/12/2030

 

247.60

 

10,000

 

–

 

–

 

3,334

 

3,333

 

3,333

 

10,000

 

N/A

 

 

24/12/2021–
24/12/2024

 

24/12/2021

 

Upon third anniversary of the grant

 

24/12/2024

 

24/12/2024–
24/12/2031

 

309.20

 

2,700

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

 

 

23/12/2022–
23/12/2025

 

23/12/2022

 

 

23/12/2025

 

23/12/2025–
23/12/2032

 

359.60

 

–

 

2,700

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

42,700

 

2,700

 

 

 

6,667

 

8,733

 

8,733

 

45,400

 

5,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pamela Klein

 

Equity Incentive Plan

 

18/06/2015–
18/06/2016

 

18/06/2015

 

Please refer to footnote.

 

N/A

 

18/06/2016–
18/06/2025

 

11.44

 

2,500

 

–

 

(2,500)

 

–

 

–

 

–

 

–

 

N/A

 

 

18/06/2016–
18/06/2017

 

18/06/2016

 

 

N/A

 

18/06/2017–
18/06/2026

 

11.38

 

10,000

 

–

 

(10,000)

 

–

 

–

 

–

 

–

 

N/A

 

 

21/12/2018–
21/12/2021

 

21/12/2018

 

 

N/A

 

21/12/2019–
21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

N/A

 

 

20/12/2019–
20/12/2022

 

20/12/2019

 

 

N/A

 

20/12/2020–
20/12/2029

 

135.75

 

10,000

 

–

 

–

 

3,333

 

–

 

–

 

10,000

 

N/A

 

 

21/12/2020–
21/12/2023

 

21/12/2020

 

 

N/A

 

21/12/2021–
21/12/2030

 

247.60

 

10,000

 

–

 

–

 

3,334

 

3,333

 

3,333

 

10,000

 

N/A

 

 

24/12/2021–
24/12/2024

 

24/12/2021

 

Upon third anniversary of the grant

 

24/12/2024

 

24/12/2024–
24/12/2031

 

309.20

 

2,700

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

 

 

23/12/2022–
23/12/2025

 

23/12/2022

 

 

23/12/2025

 

23/12/2025–
23/12/2032

 

359.60

 

–

 

2,700

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

45,200

 

2,700

 

(12,500)

 

6,667

 

8,733

 

8,733

 

35,400

 

5,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anthony A. Rosenberg

 

Equity Incentive Plan

 

13/12/2016–
13/12/2019

 

13/12/2016

 

Please refer to footnote.

 

N/A

 

18/06/2017–
18/06/2026

 

14.13

 

15,000

 

–

 

–

 

–

 

–

 

–

 

15,000

 

N/A

 

 

21/12/2018–
21/12/2021

 

21/12/2018

 

 

N/A

 

21/12/2019–
21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

N/A

 

 

20/12/2019–
20/12/2022

 

20/12/2019

 

 

N/A

 

20/12/2020–
20/12/2029

 

135.75

 

8,840

 

–

 

–

 

3,333

 

–

 

–

 

8,840

 

N/A

 

 

21/12/2020–
21/12/2023

 

21/12/2020

 

 

N/A

 

21/12/2021–
21/12/2030

 

247.60

 

10,000

 

–

 

(4,160)

 

3,334

 

3,333

 

3,333

 

5,840

 

N/A

 

 

24/12/2021–
24/12/2024

 

24/12/2021

 

Upon third anniversary of the grant

 

24/12/2024

 

24/12/2024–
24/12/2031

 

309.20

 

2,700

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

 

 

23/12/2022–
23/12/2025

 

23/12/2022

 

 

23/12/2025

 

23/12/2025–
23/12/2032

 

359.60

 

–

 

2,700

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

46,540

 

2,700

 

(4,160)

 

6,667

 

8,733

 

8,733

 

45,080

 

5,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

James M. Daly

 

Equity Incentive Plan

 

28/06/2018–
28/06/2021

 

28/06/2018

 

Please refer to footnote.

 

N/A

 

28/06/2019–
28/06/2028

 

80.82

 

5,000

 

–

 

(5,000)

 

–

 

–

 

–

 

–

 

N/A

 

 

21/12/2018–
21/12/2021

 

21/12/2018

 

 

N/A

 

21/12/2019–
21/12/2028

 

86.32

 

10,000

 

–

 

(10,000)

 

–

 

–

 

–

 

–

 

N/A

 

 

20/12/2019–
20/12/2022

 

20/12/2019

 

 

N/A

 

20/12/2020–
20/12/2029

 

135.75

 

10,000

 

–

 

–

 

3,333

 

–

 

–

 

10,000

 

N/A

 

 

21/12/2020–
21/12/2023

 

21/12/2020

 

 

N/A

 

21/12/2021–
21/12/2030

 

247.60

 

10,000

 

–

 

–

 

3,334

 

3,333

 

3,333

 

10,000

 

N/A

 

 

24/12/2021–
24/12/2024

 

24/12/2021

 

Upon third anniversary of the grant

 

24/12/2024

 

24/12/2024–
24/12/2031

 

309.20

 

2,700

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

 

 

23/12/2022–
23/12/2025

 

23/12/2022

 

 

23/12/2025

 

23/12/2025–
23/12/2032

 

359.60

 

–

 

2,700

 

–

 

–

 

2,700

 

2,700

 

2,700

 

2,700

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

37,700

 

2,700

 

(15,000)

 

6,667

 

8,733

 

8,733

 

25,400

 

5,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Camilla Sylvest

 

Equity Incentive Plan

 

03/10/2022–
03/10/2025

 

03/10/2022

 

Upon third anniversary of the grant

 

03/10/2025

 

03/10/2025–
03/10/2032

 

368.50

 

–

 

4,050

 

–

 

–

 

4,050

 

4,050

 

4,050

 

4,050

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

–

 

4,050

 

–

 

–

 

4,050

 

4,050

 

4,050

 

4,050

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ana Cespedes

 

Equity Incentive Plan

 

23/12/2022–
23/12/2025

 

23/12/2022

 

Upon third anniversary of the grant

 

23/12/2025

 

23/12/2025–
23/12/2032

 

359.60

 

–

 

4,050

 

–

 

–

 

4,050

 

4,050

 

4,050

 

4,050

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

–

 

4,050

 

–

 

–

 

4,050

 

4,050

 

4,050

 

4,050

1)

1/3rd upon the first anniversary of the option’s date of grant and for the remaining 2/3rd during the following two years in equal parts of 1/24th, each time upon the 1st day of each next month.

The table below shows (i) the RSUs held at January 1, 2022, (ii) the RSUs granted to the non-executive directors which have vested during the year ended December 31, 2022 and (iii) RSUs scheduled to vest in the years ending December 31, 2023, December 31, 2024, December 31, 2025 and December 31, 2026 (in number of RSUs):

Remuneration in restricted stock units (RSU’s) non-executive directors

 

 

 

 

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

The main conditions of RSU plan

 

Opening balance

 

During the Year

 

Closing balance

Name of Directors, Position

 

Specifi­cation of plan

 

Perfor­mance
period

 

Award date

 

Vesting date 1)

 

End of reten­tion period

 

RSU’s held at the beginning of the year

 

RSU’s awar­ded

 

RSU’s vested

 

RSU’s subject to a performance condition

 

RSU’s awarded and unvested

 

RSU’s held at the closing of the year

 

RSU’s subject to a reten­tion period

Peter Verhaeghe

 

Equity Incentive Plan

 

24/12/2021–
24/12/2025

 

24/12/2021

 

Please
refer to
footnote.

 

N/A

 

600

 

–

 

(150)

 

450

 

450

 

450

 

N/A

 

 

23/12/2022–
23/12/2026

 

23/12/2022

 

 

N/A

 

–

 

600

 

–

 

600

 

600

 

600

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

600

 

600

 

(150)

 

1,050

 

1,050

 

1,050

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yvonne Greenstreet

 

Equity Incentive Plan

 

01/07/2021–
03/03/2022

 

01/07/2021

 

Please
refer to
footnote.

 

N/A

 

225

 

–

 

(225)

 

–

 

–

 

–

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

225

 

–

 

(225)

 

–

 

–

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Werner Lanthaler

 

Equity Incentive Plan

 

24/12/2021–
24/12/2025

 

24/12/2021

 

Please
refer to
footnote.

 

N/A

 

600

 

–

 

(150)

 

450

 

450

 

450

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

600

 

–

 

(150)

 

450

 

450

 

450

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

J. Donald deBethizy

 

Equity Incentive Plan

 

24/12/2021–
24/12/2025

 

24/12/2021

 

Please
refer to
footnote.

 

N/A

 

600

 

–

 

(150)

 

450

 

450

 

450

 

N/A

 

 

23/12/2022–
23/12/2026

 

23/12/2022

 

 

N/A

 

–

 

600

 

–

 

600

 

600

 

600

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

600

 

600

 

(150)

 

1,050

 

1,050

 

1,050

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pamela Klein

 

Equity Incentive Plan

 

24/12/2021–
24/12/2025

 

24/12/2021

 

Please
refer to
footnote.

 

N/A

 

600

 

–

 

(150)

 

450

 

450

 

450

 

N/A

 

 

23/12/2022–
23/12/2026

 

23/12/2022

 

 

N/A

 

–

 

600

 

–

 

600

 

600

 

600

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

600

 

600

 

(150)

 

1,050

 

1,050

 

1,050

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anthony A. Rosenberg

 

Equity Incentive Plan

 

24/12/2021–
24/12/2025

 

24/12/2021

 

Please
refer to
footnote.

 

N/A

 

600

 

–

 

(150)

 

450

 

450

 

450

 

N/A

 

 

23/12/2022–
23/12/2026

 

23/12/2022

 

 

N/A

 

–

 

600

 

–

 

600

 

600

 

600

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

600

 

600

 

(150)

 

1,050

 

1,050

 

1,050

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

James M. Daly

 

Equity Incentive Plan

 

24/12/2021–
24/12/2025

 

24/12/2021

 

Please refer to footnote.

 

N/A

 

600

 

–

 

(150)

 

450

 

450

 

450

 

N/A

 

 

23/12/2022–
23/12/2026

 

23/12/2022

 

 

N/A

 

–

 

600

 

–

 

600

 

600

 

600

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

600

 

600

 

(150)

 

1,050

 

1,050

 

1,050

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Camilla Sylvest

 

Equity Incentive Plan

 

03/10/2022–
03/10/2026

 

03/10/2022

 

Please
refer to
footnote.

 

N/A

 

–

 

900

 

–

 

900

 

900

 

900

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

–

 

900

 

–

 

900

 

900

 

900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ana Cespedes

 

Equity Incentive Plan

 

23/12/2022–
23/12/2026

 

23/12/2022

 

Please refer to footnote.

 

N/A

 

–

 

900

 

–

 

900

 

900

 

900

 

N/A

Total

 

 

 

 

 

 

 

 

 

 

 

–

 

900

 

–

 

900

 

900

 

900

 

 

1)

Vesting date: vest over a period of 4 years with 1/4th of the total grant vesting at each anniversary of the date of grant.