Annual Report 2025

Annual Report 2025

Summary of Non-Executive Director Equity compensation

RSU overview Non-Executive Directors

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

 

 

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

The main conditions of RSU plan

 

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

Ana Céspedes

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

450

 

–

 

225

 

–

 

225

 

225

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

131

 

–

 

43

 

–

 

88

 

88

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

1,065

 

–

 

1,065

 

–

 

–

 

1,065

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

1,646

 

703

 

1,333

 

–

 

1,016

 

2,081

James Daly

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

150

 

–

 

150

 

–

 

–

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

263

 

–

 

88

 

–

 

175

 

175

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

1,065

 

–

 

1,065

 

–

 

–

 

1,065

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

1,778

 

703

 

1,453

 

–

 

1,028

 

2,093

Donald deBethizy2)

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

150

 

–

 

150

 

–

 

–

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

263

 

–

 

263

 

–

 

–

 

–

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

1,065

 

–

 

1,065

 

–

 

–

 

1,065

Total

 

 

 

 

 

 

 

 

 

1,778

 

–

 

1,628

 

–

 

150

 

1,215

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

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

2,165

 

703

 

1,452

 

–

 

1,416

 

2,481

Brian Kotzin

 

28/06/2024 – 28/06/2028

 

28/06/2024

 

(1)

 

28/06/2028

 

1,598

 

–

 

1,598

 

–

 

–

 

1,598

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

1,598

 

703

 

1,598

 

–

 

703

 

2,301

Steve Krognes

 

03/04/2023 – 03/04/2027

 

03/04/2023

 

(1)

 

N/A

 

394

 

–

 

132

 

–

 

262

 

262

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

1,065

 

–

 

1,065

 

–

 

–

 

1,065

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

1,459

 

703

 

1,197

 

–

 

965

 

2,030

Anthony Rosenberg

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

150

 

–

 

150

 

–

 

–

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

263

 

–

 

88

 

–

 

175

 

175

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

1,065

 

–

 

1,065

 

–

 

–

 

1,065

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

1,778

 

703

 

1,453

 

–

 

1,028

 

2,093

Camilla Sylvest

 

03/10/2022 – 03/10/2026

 

03/10/2022

 

(1)

 

N/A

 

450

 

–

 

225

 

–

 

225

 

225

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

197

 

–

 

65

 

–

 

132

 

132

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

1,065

 

–

 

1,065

 

–

 

–

 

1,065

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

1,712

 

703

 

1,355

 

–

 

1,060

 

2,125

Peter Verhaeghe

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

N/A

 

150

 

–

 

150

 

–

 

–

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

N/A

 

300

 

–

 

150

 

–

 

150

 

150

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

N/A

 

263

 

–

 

88

 

–

 

175

 

175

 

28/06/2024 – 28/06/2025

 

28/06/2024

 

(1)

 

28/06/2028

 

1,065

 

–

 

1,065

 

–

 

–

 

1,065

 

30/06/2025 – 30/06/2026

 

30/06/2025

 

(1)

 

30/06/2029

 

–

 

703

 

–

 

–

 

703

 

703

Total

 

 

 

 

 

 

 

 

 

1,778

 

703

 

1,453

 

–

 

1,028

 

2,093

(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.

2)

Donald deBethizy retired from the Board of Directors and the Research and Development Committee on May 27, 2025.

Stock Option overview Non-Executive Director

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

Ana Céspedes

 

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

 

–

 

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

 

–

 

–

 

4,050

 

–

 

800

 

4,850

 

800

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

 

–

 

–

 

–

 

–

 

–

 

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

 

–

 

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

 

–

 

15,400

 

–

 

–

 

1,600

 

4,300

 

1,600

Donald deBethizy3)

 

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

 

–

 

–

 

–

 

–

 

–

 

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

 

–

 

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

 

–

 

–

 

44,300

 

1,600

Pamela Klein

 

20/12/2019 – 20/12/2022

 

20/12/2019

 

(1)

 

N/A

 

20/12/2020 – 20/12/2029

 

135.75

 

7,500

 

–

 

5,000

 

–

 

–

 

–

 

2,500

 

–

 

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

 

–

 

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

 

–

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

24,500

 

–

 

5,000

 

2,700

 

–

 

1,600

 

19,500

 

1,600

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

Anthony Rosenberg

 

13/12/2016 – 13/12/2019

 

13/12/2016

 

(1)

 

N/A

 

13/12/2017 – 13/12/2026

 

14.13

 

7,800

 

–

 

7,800

 

–

 

–

 

–

 

–

 

–

 

21/12/2021

 

21/12/2018

 

(1)

 

N/A

 

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

 

–

 

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

 

–

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

37,280

 

–

 

7,800

 

2,700

 

–

 

1,600

 

29,480

 

1,600

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

 

–

 

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

 

–

 

–

 

4,050

 

–

 

1,200

 

5,250

 

1,200

Peter Verhaeghe

 

18/06/2016 – 18/06/2019

 

18/06/2016

 

(1)

 

31/12/2019

 

01/01/2020 – 18/06/2026

 

11.38

 

4,000

 

–

 

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

 

–

 

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

 

–

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

41,000

 

–

 

4,000

 

2,700

 

–

 

1,600

 

37,000

 

1,600

(1)

1/3 of stock options vests on the first anniversary of the 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 the month.

(2)

Stock options vest upon third anniversary of the grant.

3)

Donald deBethizy retired from the Board of Directors, the Remuneration and Nomination and Research and Development Committee on May 27, 2025.