Annual Report 2024

Annual Report 2024

Summary of Non-Executive Director Equity compensation

Stock Option overview Non-Executive Directors

The table below shows (i) the stock options held at January 1, 2024, (ii) the stock options granted to the Non-Executive Directors which have vested during the year ended December 31, 2024, (iii) the number of stock options scheduled to vest in the years ending December 31, 2025 December 31, 2026 December 31, 2027and (iv) the respective exercise price of such stock options. No stock options were granted in 2024 to Non-Executive Directors and consequently Dr. Brian Kotzin does not hold any stock options and is as such not included in the below table.

Remuneration of Non-Executive Directors – Stock Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Opening balance

 

During the Year

 

Closing balance

Name of Directors

 

Performance period

 

Award date

 

Vesting date

 

End of retention period

 

Exercise period

 

Grant price in €

 

Stock options held at the beginning of the year

 

Stock options awarded

 

Stock options exercised

 

Stock options vested

 

Stock options subject to a service condition

 

Stock options awarded and unvested

 

Stock options held at the end of the year

 

Stock options subject to a retention period

Mr. Peter Verhaeghe

 

18/12/2014 – 18/12/2017

 

18/12/2014

 

(1)

 

31/12/2017

 

01/01/2018 – 18/12/2024

 

7.17

 

2,000

 

–

 

2,000

 

–

 

–

 

–

 

–

 

–

 

18/06/2016 – 18/06/2019

 

18/06/2016

 

(1)

 

31/12/2019

 

01/01/2020 – 18/06/2026

 

11.38

 

10,000

 

–

 

6,000

 

–

 

–

 

–

 

4,000

 

–

 

21/12/2018 – 21/12/2021

 

21/12/2018

 

(1)

 

31/12/2021

 

01/01/2022 – 21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

20/12/2019 – 20/12/2022

 

20/12/2019

 

(1)

 

31/12/2022

 

01/01/2023 – 20/12/2029

 

135.75

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

21/12/2020 – 21/12/2023

 

21/12/2020

 

(1)

 

31/12/2023

 

01/01/2024 – 21/12/2030

 

247.60

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

24/12/2021 – 24/12/2024

 

24/12/2021

 

(2)

 

31/12/2024

 

01/01/2025 – 24/12/2031

 

309.20

 

2,700

 

–

 

–

 

2,700

 

–

 

–

 

2,700

 

–

 

23/12/2022 – 23/12/2025

 

23/12/2022

 

(2)

 

31/12/2025

 

01/01/2026 – 23/12/2032

 

359.60

 

2,700

 

–

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

03/07/2023 – 03/07/2026

 

03/07/2023

 

(2)

 

31/12/2026

 

01/01/2027 – 03/07/2033

 

355.40

 

1,600

 

–

 

–

 

–

 

–

 

1,600

 

1,600

 

1,600

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

49,000

 

–

 

8,000

 

2,700

 

–

 

4,300

 

41,000

 

4,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mr. Steve Krognes

 

03/04/2023 – 03/04/2026

 

03/04/2023

 

(2)

 

31/12/2026

 

03/04/2024 – 03/04/2033

 

340.70

 

2,400

 

–

 

 

 

 

 

 

 

2,400

 

2,400

 

2,400

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

2,400

 

–

 

–

 

–

 

–

 

2,400

 

2,400

 

2,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dr. Pamela Klein

 

21/12/2018 – 21/12/2021

 

21/12/2018

 

(1)

 

N/A

 

21/12/2019 – 21/12/2028

 

86.32

 

1,500

 

–

 

1,500

 

–

 

–

 

–

 

–

 

–

 

20/12/2019 – 20/12/2022

 

20/12/2019

 

(1)

 

N/A

 

20/12/2020 – 20/12/2029

 

135.75

 

10,000

 

–

 

2,500

 

–

 

–

 

–

 

7,500

 

–

 

21/12/2020 – 21/12/2023

 

21/12/2020

 

(1)

 

N/A

 

21/12/2021 – 21/12/2030

 

247.60

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

24/12/2021 – 24/12/2024

 

24/12/2021

 

(2)

 

31/12/2024

 

24/12/2022 – 24/12/2031

 

309.20

 

2,700

 

–

 

–

 

2,700

 

–

 

–

 

2,700

 

–

 

23/12/2022 – 23/12/2025

 

23/12/2022

 

(2)

 

31/12/2025

 

23/12/2023 – 23/12/2032

 

359.60

 

2,700

 

–

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

03/07/2023 – 03/07/2026

 

03/07/2023

 

(2)

 

31/12/2026

 

03/07/2024 – 03/07/2033

 

355.40

 

1,600

 

–

 

–

 

–

 

–

 

1,600

 

1,600

 

1,600

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

28,500

 

–

 

4,000

 

2,700

 

–

 

4,300

 

24,500

 

4,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dr. Donald deBethizy

 

18/06/2016 – 18/06/2019

 

18/06/2016

 

(1)

 

N/A

 

18/06/2017 – 18/06/2026

 

11.38

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

21/12/2018 – 21/12/2021

 

21/12/2018

 

(1)

 

N/A

 

21/12/2019 – 21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

20/12/2019 – 20/12/2022

 

20/12/2019

 

(1)

 

N/A

 

20/12/2020 – 20/12/2029

 

135.75

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

21/12/2020 – 21/12/2023

 

21/12/2020

 

(1)

 

N/A

 

21/12/2021 – 21/12/2030

 

247.60

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

24/12/2021 – 24/12/2024

 

24/12/2021

 

(2)

 

31/12/2024

 

24/12/2022 – 24/12/2031

 

309.20

 

2,700

 

–

 

–

 

2,700

 

–

 

–

 

2,700

 

–

 

23/12/2022 – 23/12/2025

 

23/12/2022

 

(2)

 

31/12/2025

 

23/12/2023 – 23/12/2032

 

359.60

 

2,700

 

–

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

03/07/2023 – 03/07/2026

 

03/07/2023

 

(2)

 

31/12/2026

 

03/07/2024 – 03/07/2033

 

355.40

 

1,600

 

–

 

–

 

–

 

–

 

1,600

 

1,600

 

1,600

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

47,000

 

–

 

–

 

2,700

 

–

 

4,300

 

47,000

 

4,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anthony Rosenberg

 

13/12/2016 – 13/12/2019

 

13/12/2016

 

(1)

 

N/A

 

13/12/2017 – 13/12/2026

 

14.13

 

15,000

 

–

 

7,200

 

–

 

–

 

–

 

7,800

 

–

 

21/12/2018 – 21/12/2021

 

21/12/2018

 

(1)

 

N/A

 

21/12/2019 – 21/12/2028

 

86.32

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

20/12/2019 – 20/12/2022

 

20/12/2019

 

(1)

 

N/A

 

20/12/2020 – 20/12/2029

 

135.75

 

8,840

 

–

 

–

 

–

 

–

 

–

 

8,840

 

–

 

21/12/2020 – 21/12/2023

 

21/12/2020

 

(1)

 

N/A

 

21/12/2021 – 21/12/2030

 

247.60

 

3,640

 

–

 

–

 

–

 

–

 

–

 

3,640

 

–

 

24/12/2021 – 24/12/2024

 

24/12/2021

 

(2)

 

31/12/2024

 

24/12/2022 – 24/12/2031

 

309.20

 

2,700

 

–

 

–

 

2,700

 

–

 

–

 

2,700

 

–

 

23/12/2022 – 23/12/2025

 

23/12/2022

 

(2)

 

31/12/2025

 

23/12/2023 – 23/12/2032

 

359.60

 

2,700

 

–

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

03/07/2023 – 03/07/2026

 

03/07/2023

 

(2)

 

31/12/2026

 

03/07/2024 – 03/07/2033

 

355.40

 

1,600

 

–

 

–

 

–

 

–

 

1,600

 

1,600

 

1,600

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

44,480

 

–

 

7,200

 

2,700

 

–

 

4,300

 

37,280

 

4,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

James Daly

 

21/12/2020 – 21/12/2023

 

21/12/2020

 

(1)

 

N/A

 

21/12/2021 – 21/12/2030

 

247.60

 

10,000

 

–

 

–

 

–

 

–

 

–

 

10,000

 

–

 

24/12/2021 – 24/12/2024

 

24/12/2021

 

(2)

 

31/12/2024

 

24/12/2022 – 24/12/2031

 

309.20

 

2,700

 

–

 

–

 

2,700

 

–

 

–

 

2,700

 

–

 

23/12/2022 – 23/12/2025

 

23/12/2022

 

(2)

 

31/12/2025

 

23/12/2023 – 23/12/2032

 

359.60

 

2,700

 

–

 

–

 

–

 

–

 

2,700

 

2,700

 

2,700

 

03/07/2023 – 03/07/2026

 

03/07/2023

 

(2)

 

31/12/2026

 

03/07/2024 – 03/07/2033

 

355.40

 

1,600

 

–

 

–

 

–

 

–

 

1,600

 

1,600

 

1,600

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

17,000

 

–

 

–

 

2,700

 

–

 

4,300

 

17,000

 

4,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Camilla Sylvest

 

03/10/2022 – 03/10/2025

 

03/10/2022

 

(2)

 

31/12/2025

 

03/10/2023 – 03/10/2032

 

368.50

 

4,050

 

–

 

–

 

–

 

–

 

4,050

 

4,050

 

4,050

 

03/07/2023 – 03/07/2026

 

03/07/2023

 

(2)

 

31/12/2026

 

03/07/2024 – 03/07/2033

 

355.40

 

1,200

 

–

 

–

 

–

 

–

 

1,200

 

1,200

 

1,200

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

5,250

 

–

 

–

 

–

 

–

 

5,250

 

5,250

 

5,250

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dr. Ana Cespedes

 

23/12/2022 – 23/12/2025

 

23/12/2022

 

(2)

 

31/12/2025

 

23/12/2023 – 23/12/2032

 

359.60

 

4,050

 

–

 

–

 

–

 

–

 

4,050

 

4,050

 

4,050

 

03/07/2023 – 03/07/2026

 

03/07/2023

 

(2)

 

31/12/2026

 

03/07/2024 – 03/07/2033

 

355.40

 

800

 

–

 

–

 

–

 

–

 

800

 

800

 

800

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

4,850

 

–

 

–

 

–

 

–

 

4,850

 

4,850

 

4,850

1)

1/3rd of the stock options vests on the first anniversary of the date of grant and the remaining 2/3rd vest in equal monthly installments (24 in total) over the next two years, each time upon the 1st day of each next month. Stock options vest upon third anniversary of the grant.

2)

Stock options vest upon third anniversary of the grant.

RSU overview Non-Executive Directors

The table below shows (i) the RSUs held at January 1, 2024, (ii) the RSUs granted to the Non-Executive Directors which have vested during the year ended December 31, 2024 and (iii) RSUs scheduled to vest in the years ending December 31, 2025, December 31, 2026 December 31, 2027 December 31, 2028(in number of RSUs). RSUs granted to Non-Executive Directors before 2024 vest over a period of four years with 1/4th of the total grant vesting at each anniversary of the grant date. RSUs granted to Non-Executive Directors in 2024 will all vest on the 1st anniversary of the grant date in 2025 and are subject to a holding period of 3 years.

Remuneration of Non-Executive Directors – Restricted Stock Units (RSUs)

 

 

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

 

 

 

 

 

 

 

 

Opening balance

 

During the Year

 

Closing balance

Name of member of Board of Directors

 

Vesting period

 

Award date

 

Vesting date

 

End of holding period

 

RSUs held at the beginning of the year

 

RSUs awarded

 

RSUs vested

 

RSUs subject to a service condition

 

RSUs awarded and unvested

 

RSUs held at the closing of the year

 

RSUs subject to a holding period

Mr. Peter Verhaeghe

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

450

 

–

 

150

 

–

 

300

 

300

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

350

 

–

 

87

 

–

 

263

 

263

 

 

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

–

Total

 

 

 

 

 

 

 

 

 

1,100

 

1,065

 

387

 

–

 

1,778

 

1,778

 

–

Mr. Steve Krognes

 

03/04/2023 – 03/04/2027

 

03/04/2023

 

(1)

 

N/A

 

525

 

–

 

–

 

–

 

394

 

394

 

–

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

 

Total

 

 

 

 

 

 

 

 

 

525

 

1,065

 

131

 

–

 

1,459

 

1,459

 

–

Dr. Pamela Klein

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

450

 

–

 

150

 

–

 

300

 

300

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

350

 

–

 

87

 

–

 

263

 

263

 

 

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

–

Total

 

 

 

 

 

 

 

 

 

1,100

 

1,065

 

387

 

–

 

1,778

 

1,778

 

–

Dr. Donald deBethizy

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

450

 

–

 

150

 

–

 

300

 

300

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

350

 

–

 

87

 

–

 

263

 

263

 

 

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

–

Total

 

 

 

 

 

 

 

 

 

1,100

 

1,065

 

387

 

–

 

1,778

 

1,778

 

–

Anthony Rosenberg

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

450

 

–

 

150

 

–

 

300

 

300

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

350

 

–

 

87

 

–

 

263

 

263

 

 

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

–

Total

 

 

 

 

 

 

 

 

 

1,100

 

1,065

 

387

 

–

 

1,778

 

1,778

 

–

James Daly

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

450

 

–

 

150

 

–

 

300

 

300

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

350

 

–

 

87

 

–

 

263

 

263

 

 

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

–

Total

 

 

 

 

 

 

 

 

 

1,100

 

1,065

 

387

 

–

 

1,778

 

1,778

 

–

Camilla Sylvest

 

03/10/2022 – 03/10/2026

 

03/10/2022

 

(1)

 

N/A

 

675

 

–

 

225

 

–

 

450

 

450

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

263

 

–

 

66

 

–

 

197

 

197

 

 

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

–

Total

 

 

 

 

 

 

 

 

 

938

 

1,065

 

291

 

–

 

1,712

 

1,712

 

–

Dr. Ana Cespedes

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

675

 

–

 

225

 

–

 

450

 

450

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

175

 

–

 

44

 

–

 

131

 

131

 

 

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

–

 

1,065

 

–

 

–

 

1,065

 

1,065

 

–

Total

 

 

 

 

 

 

 

 

 

850

 

1,065

 

269

 

–

 

1,646

 

1,646

 

–

Dr. Brian Kotzin

 

28/06/2024 – 28/06/2028

 

28/06/2024

 

(1)

 

28/06/2028

 

0

 

1,598

 

–

 

–

 

1,598

 

1,598

 

 

Total

 

 

 

 

 

 

 

 

 

–

 

1,598

 

–

 

–

 

1,598

 

1,598

 

–

1)

RSUs granted before 2024 vest over a period of four years with 1/4th of the total grant vesting at each anniversary of the date of grant. RSUs granted to Non-Executive Directors in 2024 will all vest on the 1st anniversary of the grant date in 2025 and are subject to a holding period of 3 years.