Annual Report 2025

Annual Report 2025

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 PSU awards granted to members of the Senior Management Team during the year ended December 31, 2025:

Remuneration of Other Senior Management Members – Stock Option and PSU Awards granted

 

 

PSUs granted in 2025

 

Stock options granted in 2025

Name

 

# PSUs

 

Key terms

 

# Stock
options

 

Exercise
price in €

 

Exercise
price in $

 

Key terms

Arjen Lemmen

 

3,423

 

PSUs are subject to a cliff vest and settlement at the end of a performance period of 3-years.

 

10,110

 

479.30

 

561.74

 

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

Malini Moorthy

 

2,983

 

 

8,812

 

479.30

 

561.74

 

Luc Truyen

 

2,983

 

 

8,812

 

479.30

 

561.74

 

Peter Ulrichts

 

2,983

 

 

8,812

 

479.30

 

561.74

 

Andria Wilk

 

879

 

 

2,596

 

479.30

 

561.74

 

The table below shows (i) the stock options held as of January 1, 2025, (ii) the stock options granted to members of Senior Management Team (other than the NEOs) which vested during the year ended December 31, 2025, (iii) the number of stock options scheduled to vest in the years ending December 31, 2026, December 31, 2027 and December 31, 2028 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 Held

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

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 held at the end of the year

Arjen Lemmen, Vice President of Corporate Development & Strategy

 

Equity incentive plan

 

21/12/2020 – 01/12/2023

 

21/12/2020

 

(1)

 

01/01/2024 – 21/12/2030

 

247.60

 

47,674

 

–

 

32,674

 

–

 

–

 

15,000

 

 

24/12/2021 – 01/12/2024

 

24/12/2021

 

(1)

 

01/01/2025 – 24/12/2031

 

309.20

 

16,000

 

–

 

–

 

–

 

–

 

16,000

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

23/12/2023 – 23/12/2032

 

359.60

 

16,000

 

–

 

–

 

–

 

5,333

 

16,000

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

03/07/2024 – 03/07/2033

 

355.40

 

15,000

 

–

 

–

 

–

 

5,000

 

15,000

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

01/01/2028 – 28/06/2034

 

416.40

 

12,738

 

–

 

–

 

–

 

6,369

 

12,738

 

 

30/06/2025 – 01/06/2028

 

30/06/2025

 

(1)

 

01/01/2029 – 30/06/2035

 

479.30

 

–

 

10,110

 

–

 

–

 

–

 

10,110

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

107,412.00

 

10,110

 

32,674

 

–

 

16,702

 

84,848

Malini Moorthy, Legal Counsel

 

Equity incentive plan

 

01/04/2022 – 01/04/2025

 

01/04/2022

 

(1)

 

01/04/2023 – 01/04/2032

 

282.50

 

6,500

 

–

 

6,500

 

–

 

2,667

 

–

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

03/07/2024 – 03/07/2033

 

355.40

 

15,000

 

–

 

5,000

 

–

 

5,000

 

10,000

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

01/01/2028 – 28/06/2034

 

416.40

 

12,738

 

–

 

–

 

–

 

6,369

 

12,738

 

 

30/06/2025 – 01/06/2028

 

30/06/2025

 

(1)

 

01/01/2029 – 30/06/2035

 

479.30

 

–

 

8,812

 

–

 

–

 

–

 

8,812

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

34,238

 

8,812

 

11,500

 

–

 

14,036

 

31,550

Luc Truyen, CMO

 

Equity incentive plan

 

01/10/2021 – 01/10/2024

 

01/10/2021

 

(1)

 

01/01/2025 – 01/10/2026

 

259.5

 

24,000

 

–

 

24,000

 

–

 

–

 

–

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

01/01/2026 – 23/12/2027

 

359.6

 

16,000

 

–

 

–

 

–

 

5,333

 

16,000

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

01/01/2027 – 03/07/2028

 

355.4

 

15,000

 

–

 

–

 

–

 

5,000

 

15,000

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

01/01/2028 – 28/06/2034

 

416.40

 

12,738

 

–

 

–

 

–

 

6,369

 

12,738

 

 

30/06/2025 – 01/06/2028

 

30/06/2025

 

(1)

 

01/01/2029 – 30/06/2035

 

479.30

 

–

 

8,812

 

–

 

–

 

–

 

8,812

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

67,738

 

8,812

 

24,000

 

–

 

16,702

 

52,550

Peter Ulrichts, CSO

 

Equity incentive plan

 

20/12/2019 – 01/12/2022

 

20/12/2019

 

(1)

 

01/01/2023 – 20/12/2029

 

135.75

 

4,000

 

–

 

4,000

 

–

 

–

 

–

 

 

21/12/2020 – 01/12/2023

 

21/12/2020

 

(1)

 

01/01/2024 – 21/12/2030

 

247.60

 

7,651

 

–

 

7,651

 

–

 

–

 

–

 

 

24/12/2021 – 01/12/2024

 

24/12/2021

 

(1)

 

01/01/2025 – 24/12/2026

 

309.20

 

3,420

 

–

 

3,420

 

–

 

–

 

–

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

01/01/2026 – 23/12/2027

 

359.60

 

16,000

 

–

 

–

 

–

 

3,811

 

16,000

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

01/01/2027 – 03/07/2028

 

355.40

 

15,000

 

–

 

–

 

–

 

5,000

 

15,000

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

01/01/2028 – 28/06/2034

 

416.40

 

12,738

 

–

 

–

 

–

 

4,978

 

12,738

 

 

30/06/2025 – 01/06/2028

 

30/06/2025

 

(1)

 

01/01/2029 – 30/06/2035

 

479.30

 

–

 

8,812

 

–

 

–

 

1,039

 

8,812

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

58,809

 

8,812

 

15,071

 

–

 

14,828

 

52,550

Andria Wilk, Global Head of Quality

 

Equity incentive plan

 

21/12/2020 – 01/12/2023

 

21/12/2020

 

(1)

 

01/01/2024 – 21/12/2025

 

247.60

 

87

 

–

 

87

 

–

 

–

 

–

 

 

24/12/2021 – 01/12/2024

 

24/12/2021

 

(1)

 

01/01/2025 – 24/12/2031

 

309.20

 

4,446

 

–

 

1,167

 

–

 

–

 

3,279

 

 

23/12/2022 – 01/12/2025

 

23/12/2022

 

(1)

 

01/01/2026 – 23/12/2027

 

359.60

 

4,600

 

–

 

–

 

–

 

1,126

 

4,600

 

 

03/07/2023 – 01/07/2026

 

03/07/2023

 

(1)

 

01/01/2027 – 03/07/2033

 

355.40

 

4,600

 

–

 

–

 

–

 

1,276

 

4,600

 

 

28/06/2024 – 01/06/2027

 

28/06/2024

 

(1)

 

01/01/2028 – 28/06/2034

 

416.40

 

3,599

 

–

 

–

 

–

 

1,406

 

3,599

 

 

30/06/2025 – 01/06/2028

 

30/06/2025

 

(1)

 

01/01/2029 – 30/06/2035

 

479.30

 

–

 

2,596

 

–

 

–

 

306

 

2,596

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

17,332

 

2,596

 

1,254

 

–

 

4,114

 

18,674

(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.

PSU overview other members of the Senior Management Team

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

Remuneration of Other Senior Management Members – Performance Stock Units (PSUs)

 

 

 

 

 

 

 

 

Information regarding the reported financial year

 

 

Main conditions of the PSU plan

 

Opening balance

 

During the Year

 

Closing balance

Name of Directors, Position

 

Performance period

 

Award date

 

Vesting date

 

PSU’s held at the beginning of the year

 

PSUs awarded

 

PSUs forfeited

 

PSUs vested

 

PSUs held at the closing of the year

Arjen Lemmen, Vice President of Corporate Development & Strategy

 

01/01/2025 – 31/12/2027

 

30/06/2025

 

31/12/2027

 

–

 

3,423

 

–

 

–

 

3,423

Total

 

 

 

 

 

 

 

–

 

3,423

 

–

 

–

 

3,423

Malini Moorthy, General Counsel and Corporate Secretary

 

01/01/2025 – 31/12/2027

 

30/06/2025

 

31/12/2027

 

–

 

2,983

 

–

 

–

 

2,983

Total

 

 

 

 

 

 

 

–

 

2,983

 

–

 

–

 

2,983

Luc Truyen, CMO

 

01/01/2025 – 31/12/2027

 

30/06/2025

 

31/12/2027

 

–

 

2,983

 

–

 

–

 

2,983

Total

 

 

 

 

 

 

 

–

 

2,983

 

–

 

–

 

2,983

Peter Ulrichts, CSO

 

01/01/2025 – 31/12/2027

 

30/06/2025

 

31/12/2027

 

–

 

2,983

 

–

 

–

 

2,983

Total

 

 

 

 

 

 

 

–

 

2,983

 

–

 

–

 

2,983

Andria Wilk, Global Head of Quality

 

01/01/2025 – 31/12/2027

 

30/06/2025

 

31/12/2027

 

–

 

879

 

–

 

–

 

879

Total

 

 

 

 

 

 

 

–

 

879

 

–

 

–

 

879

RSU overview other members of the Senior Management Team

The table below shows (i) the RSUs held as of January 1, 2025, (ii) the RSUs granted to members of Senior Management Team (other than the NEOs) which vested during the year ended December 31, 2025 and (iii) the number of RSUs scheduled to vest in the years ending December 31, 2026, December 31, 2027, December 31, 2028 and December 31, 2029. As of 2025, RSUs were no longer granted to the other members of the Senior Management Team and replaced by PSUs. 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

 

 

The main conditions of the RSU plan

 

Opening balance

 

During the Year

 

Closing balance

Name of Directors, Position

 

Vesting period

 

Award date

 

Vesting date

 

RSU’s held at the beginning of the year

 

RSUs awarded

 

RSUs forfeited

 

RSUs vested

 

RSUs held at the closing of the year

Arjen Lemmen, Vice President of Corporate Development & Strategy

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

900

 

–

 

–

 

900

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

1,800

 

–

 

–

 

900

 

900

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

2,513

 

–

 

–

 

838

 

1,675

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

4,712

 

–

 

–

 

1,178

 

3,534

Total

 

 

 

 

 

 

 

9,925

 

–

 

–

 

3,816

 

6,109

Malini Moorthy, General Counsel and Corporate Secretary

 

01/04/2022 – 01/04/2026

 

01/04/2022

 

(1)

 

2,700

 

–

 

–

 

1,350

 

1,350

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

2,513

 

–

 

–

 

838

 

1,675

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

4,712

 

–

 

–

 

1,178

 

3,534

Total

 

 

 

 

 

 

 

9,925

 

–

 

–

 

3,366

 

6,559

Luc Truyen, CMO

 

01/10/2021 – 01/10/2025

 

01/10/2021

 

(1)

 

1,350

 

–

 

–

 

1,350

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

1,800

 

–

 

–

 

900

 

900

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

2,513

 

–

 

–

 

838

 

1,675

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

4,712

 

–

 

–

 

1,178

 

3,534

Total

 

 

 

 

 

 

 

10,375

 

–

 

–

 

4,266

 

6,109

Peter Ulrichts, CSO

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

190

 

–

 

–

 

190

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

1,800

 

–

 

–

 

900

 

900

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

2,513

 

–

 

–

 

838

 

1,675

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

4,712

 

–

 

–

 

1,178

 

3,534

Total

 

 

 

 

 

 

 

9,215

 

–

 

–

 

3,106

 

6,109

Andria Wilk, Global Head of Quality

 

24/12/2021 – 24/12/2025

 

24/12/2021

 

(1)

 

247

 

–

 

–

 

247

 

–

 

23/12/2022 – 23/12/2026

 

23/12/2022

 

(1)

 

500

 

–

 

–

 

250

 

250

 

03/07/2023 – 03/07/2027

 

03/07/2023

 

(1)

 

750

 

–

 

–

 

250

 

500

 

28/06/2024 – 27/06/2028

 

28/06/2024

 

(1)

 

1,331

 

–

 

–

 

333

 

998

Total

 

 

 

 

 

 

 

2,828

 

–

 

–

 

1,080

 

1,748

(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.