Annual Report 2024

Annual Report 2024

Summary of other members of the Senior Management Team

Stock options overview other members of the Senior Management Team

The following table sets forth information regarding stock option and RSU awards granted to members of the Senior Management Team during the year ended December 31, 2024:

Remuneration of Other Senior Management Members – Equity

 

 

RSUs granted in 2024

 

Stock options granted in 2024

 

 

Name

 

# RSUs

 

Key terms

 

Value at grant
in $

 

# Stock
options

 

Exercise
price in €

 

Exercise
price in $

 

Key terms

 

Value at grant in $1)

 

Total

Peter Ulrichts

 

4,712

 

RSUs vest and are settled in 4 equal installments of 25% over a 4 year period.

 

2,100,421

 

12,738

 

416.40

 

445.76

 

1/3 vests after year 1 2/3 vest in monthly installments in year 2 and 3.

 

2,740,705

 

4,841,126

Malini Moorthy

 

4,712

 

 

2,100,421

 

12,738

 

416.40

 

445.76

 

 

2,018,973

 

4,119,394

Luc Truyen

 

4,712

 

 

2,100,421

 

12,738

 

416.40

 

445.76

 

 

2,250,490

 

4,350,911

Arjen Lemmen

 

4,712

 

 

2,100,421

 

12,738

 

416.40

 

445.76

 

 

2,740,705

 

4,841,126

Andria Wilk

 

1,331

 

 

593,307

 

3,599

 

416.40

 

445.76

 

 

774,360

 

1,367,667

1)

These amounts do not reflect the actual economic value realized by the beneficiary. Amounts shown represent the expenses with respect to the Stock options awards granted in 2024 measured using the Black-Scholes model with unobservable assumptions. The assumptions used in the fair valuation differ between Belgian beneficiary versus non-Belgian beneficiary. The fair value of Belgian beneficiary was higher than non-Belgian beneficiary resulting in stock based compensation expense to be higher for Belgian beneficiaries than other beneficiaries. For a description of the assumptions used in valuing these awards, see “Note 13 Share-Based Payments” to our consolidated financial statements in section “Consolidated Financial Statements”.

The table below shows (i) the stock options held as of January 1, 2024, (ii) the stock options granted to members of Senior Management Team (other than the NEOs) which 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 and December 31, 2027 and (iv) the respective exercise price of such stock options. Each stock option was granted pursuant to the Equity Incentive Plan:

Remuneration of Other Senior Management Members – Stock Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Opening balance

 

During the Year

 

Closing balance

Name of Directors, Position

 

Specification plan

 

Performance period

 

Award date

 

Vesting date

 

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
forfeited

 

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

Peter Ulrichts, CSO

 

Equity incentive plan

 

20/12/2019 – 01/12/2022

 

20/12/2019

 

(1)

 

31/12/2022

 

01/01/2023 – 20/12/2029

 

135.75

 

5,000

 

–

 

1,000

 

–

 

–

 

–

 

–

 

4,000

 

–

 

 

21/12/2020 – 01/12/2023

 

21/12/2020

 

(1)

 

31/12/2023

 

01/01/2024 – 21/12/2030

 

247.60

 

9,900

 

–

 

2,249

 

–

 

–

 

–

 

–

 

7,651

 

–

 

 

24/12/2021 – 01/12/2024

 

24/12/2021

 

(1)

 

31/12/2024

 

01/01/2025 – 24/12/2026

 

309.20

 

3,420

 

–

 

–

 

–

 

1,140

 

–

 

–

 

3,420

 

–

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

31/12/2025

 

01/01/2026 – 23/12/2027

 

359.60

 

16,000

 

–

 

–

 

–

 

3,812

 

3,811

 

3,811

 

16,000

 

16,000

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

31/12/2026

 

01/01/2027 – 03/07/2028

 

355.40

 

15,000

 

–

 

–

 

–

 

7,083

 

7,917

 

7,917

 

15,000

 

15,000

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

31/12/2027

 

01/01/2028 – 28/06/2034

 

416.40

 

–

 

12,738

 

–

 

–

 

2,782

 

9,956

 

9,956

 

12,738

 

12,738

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

49,320

 

12,738

 

3,249

 

–

 

14,817

 

21,684

 

21,684

 

58,809

 

43,738

Malini Moorthy, Legal Counsel

 

Equity incentive plan

 

01/04/2022 – 01/04/2025

 

01/04/2022

 

(1)

 

N/A

 

01/04/2023 – 01/04/2032

 

282.50

 

16,500

 

–

 

10,000

 

–

 

8,000

 

2,667

 

2,667

 

6,500

 

–

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

N/A

 

03/07/2024 – 03/07/2033

 

355.40

 

15,000

 

–

 

–

 

–

 

7,083

 

7,917

 

7,917

 

15,000

 

–

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

N/A

 

01/01/2028 – 28/06/2034

 

416.40

 

–

 

12,738

 

–

 

–

 

–

 

12,738

 

12,738

 

12,738

 

–

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31,500

 

12,738

 

10,000

 

–

 

15,083

 

23,322

 

23,322

 

34,238

 

–

Luc Truyen, CMO

 

Equity incentive plan

 

01/10/2021 – 01/10/2024

 

01/10/2021

 

(1)

 

31/12/2024

 

01/01/2025 – 01/10/2026

 

259.5

 

24,000

 

–

 

–

 

–

 

6,667

 

–

 

–

 

24,000

 

–

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

31/12/2025

 

01/01/2026 – 23/12/2027

 

359.6

 

16,000

 

–

 

–

 

–

 

5,334

 

5,333

 

5,333

 

16,000

 

16,000

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

31/12/2026

 

01/01/2027 – 03/07/2028

 

355.4

 

15,000

 

–

 

–

 

–

 

7,083

 

7,917

 

7,917

 

15,000

 

15,000

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

31/12/2027

 

01/01/2028 – 28/06/2034

 

416.4

 

–

 

12,738

 

–

 

–

 

–

 

12,738

 

12,738

 

12,738

 

12,738

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

55,000

 

12,738

 

–

 

–

 

19,084

 

25,988

 

25,988

 

67,738

 

43,738

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Arjen Lemmen, Vice President of Corporate Development & Strategy

 

Equity incentive plan

 

28/06/2018 – 01/06/2021

 

28/06/2018

 

(1)

 

31/12/2021

 

01/01/2022 – 28/06/2028

 

80.82

 

695

 

–

 

695

 

–

 

–

 

–

 

–

 

–

 

–

 

 

21/12/2018 – 01/12/2021

 

21/12/2018

 

(1)

 

31/12/2021

 

01/01/2022 – 21/12/2028

 

86.32

 

15,952

 

–

 

15,952

 

–

 

–

 

–

 

–

 

–

 

–

 

 

20/12/2019 – 01/12/2022

 

20/12/2019

 

(1)

 

31/12/2022

 

01/01/2023 – 20/12/2029

 

135.75

 

37,555

 

–

 

37,555

 

–

 

–

 

–

 

–

 

–

 

–

 

 

21/12/2020 – 01/12/2023

 

21/12/2020

 

(1)

 

31/12/2023

 

01/01/2024 – 21/12/2030

 

247.60

 

50,000

 

–

 

2,326

 

–

 

–

 

–

 

–

 

47,674

 

–

 

 

24/12/2021 – 01/12/2024

 

24/12/2021

 

(1)

 

31/12/2024

 

01/01/2025 – 24/12/2031

 

309.20

 

16,000

 

–

 

–

 

–

 

5,333

 

–

 

–

 

16,000

 

–

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

N/A

 

23/12/2023 – 23/12/2032

 

359.60

 

16,000

 

–

 

–

 

–

 

5,333

 

5,333

 

5,333

 

16,000

 

–

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

N/A

 

03/07/2024 – 03/07/2033

 

355.40

 

15,000

 

–

 

–

 

–

 

7,084

 

7,917

 

7,917

 

15,000

 

–

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

31/12/2027

 

01/01/2028 – 28/06/2034

 

416.40

 

–

 

12,738

 

–

 

–

 

–

 

12,738

 

12,738

 

12,738

 

12,738

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

151,202

 

12,738

 

56,528

 

–

 

17,750

 

25,988

 

25,988

 

107,412

 

12,738

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Andria Wilk, Global Head of Quality

 

Equity incentive plan

 

21/12/2020 – 01/12/2023

 

21/12/2020

 

(1)

 

31/12/2023

 

01/01/2024 – 21/12/2025

 

247.60

 

9,900

 

–

 

9,813

 

–

 

–

 

–

 

–

 

87

 

–

 

 

24/12/2021 – 01/12/2024

 

24/12/2021

 

(1)

 

31/12/2024

 

01/01/2025 – 24/12/2031

 

309.20

 

4,446

 

–

 

–

 

–

 

756

 

–

 

–

 

4,446

 

–

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

31/12/2025

 

01/01/2026 – 23/12/2027

 

359.60

 

4,600

 

–

 

–

 

–

 

1,127

 

1,032

 

1,032

 

4,600

 

4,600

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

31/12/2026

 

01/01/2027 – 03/07/2033

 

355.40

 

4,600

 

–

 

–

 

–

 

1,809

 

1,915

 

1,915

 

4,600

 

3,830

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

31/12/2027

 

01/01/2028 – 28/06/2034

 

416.40

 

–

 

3,599

 

–

 

–

 

786

 

2,813

 

2,813

 

3,599

 

2,813

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23,546

 

3,599

 

9,813

 

–

 

4,478

 

5,760

 

5,760

 

17,332

 

11,243

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 installments (24 in total) over the next two years, each time upon the 1st day of each next month.

RSU overview other members of the Senior Management Team

The table below shows (i) the RSUs held as of January 1, 2024, (ii) the RSUs granted to members of Senior Management Team (other than the NEOs) which vested during the year ended December 31, 2024 and (iii) the number of RSUs scheduled to vest in the years ending December 31, 2025, December 31, 2026, December 31, 2027 and December 31, 2028. Each RSU was granted pursuant to the Equity Incentive Plan:

Remuneration of Other Senior Management Members – Restricted Stock Units (RSUs)

 

 

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

 

 

 

 

 

 

 

 

Opening balance

 

During the Year

 

Closing balance

Name of Directors, Position

 

Vesting period

 

Award date

 

Vesting date

 

End of retention period

 

RSU’s held at the beginning of the year

 

RSUs awarded

 

RSUs forfeited

 

RSUs vested

 

RSUs subject to a service condition

 

RSUs awarded and unvested

 

RSUs held at the closing of the year

 

RSUs subject to a retention period

Peter Ulrichts, CSO

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

380

 

–

 

–

 

190

 

–

 

190

 

190

 

 

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

2,700

 

–

 

–

 

900

 

–

 

1,800

 

1,800

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

3,350

 

–

 

–

 

837

 

–

 

2,513

 

2,513

 

–

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

N/A

 

–

 

4,712

 

–

 

–

 

–

 

4,712

 

4,712

 

–

Total

 

 

 

 

 

 

 

 

 

6,430

 

4,712

 

–

 

1,927

 

–

 

9,215

 

9,215

 

–

Malini Moorthy, General Counsel

 

01/04/2022 – 01/04/2026

 

01/04/2022

 

(1)

 

N/A

 

4,050

 

–

 

–

 

1,350

 

–

 

2,700

 

2,700

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

3,350

 

–

 

–

 

837

 

–

 

2,513

 

2,513

 

–

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

N/A

 

–

 

4,712

 

–

 

–

 

–

 

4,712

 

4,712

 

–

Total

 

 

 

 

 

 

 

 

 

7,400

 

4,712

 

–

 

2,187

 

–

 

9,925

 

9,925

 

–

Luc Truyen, CMO

 

01/10/2021 – 01/10/2025

 

01/10/2021

 

(1)

 

N/A

 

2,700

 

–

 

–

 

1,350

 

–

 

1,350

 

1,350

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

2,700

 

–

 

–

 

900

 

–

 

1,800

 

1,800

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

3,350

 

–

 

–

 

837

 

–

 

2,513

 

2,513

 

–

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

N/A

 

–

 

4,712

 

–

 

–

 

–

 

4,712

 

4,712

 

–

Total

 

 

 

 

 

 

 

 

 

8,750

 

4,712

 

–

 

3,087

 

–

 

10,375

 

10,375

 

–

Arjen Lemmen, Vice President of Corporate Development & Strategy

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

1,800

 

–

 

–

 

900

 

–

 

900

 

900

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

2,700

 

–

 

–

 

900

 

–

 

1,800

 

1,800

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

3,350

 

–

 

–

 

837

 

–

 

2,513

 

2,513

 

–

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

N/A

 

–

 

4,712

 

–

 

–

 

–

 

4,712

 

4,712

 

–

Total

 

 

 

 

 

 

 

 

 

7,850

 

4,712

 

–

 

2,637

 

–

 

9,925

 

9,925

 

–

Andria Wilk, Global Head of Quality

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

494

 

–

 

–

 

247

 

–

 

247

 

247

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

750

 

–

 

–

 

250

 

–

 

500

 

500

 

–

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

1,000

 

–

 

–

 

250

 

–

 

750

 

750

 

–

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

N/A

 

–

 

1,331

 

–

 

–

 

–

 

1,331

 

1,331

 

–

Total

 

 

 

 

 

 

 

 

 

2,244

 

1,331

 

–

 

747

 

–

 

2,828

 

2,828

 

–

1)

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