Related Party Transactions

On April 29 2025, we held our Annual Shareholders’ Meeting (“AGM”). The AGM approved the appointment of Mr. Oleg Nodelman as Non-Executive Director for a period of four years.

On May 13, 2025, we announced the appointment of Mr. Henry Gosebruch as Chief Executive Officer, effective immediately, succeeding Stoffels IMC BV, permanently represented by Dr. Paul Stoffels, who announced his retirement in April 2025. The related agreements have been entered into in line with our Remuneration Policy.

On May 27, 2025, the new CEO, Mr. Henry Gosebruch, was offered new subscription rights under Subscription Right Plan 2025 (A), subject to acceptance. The subscription rights have an exercise term of eight years as of the date of the notarial deed enacting the acceptance of the subscription rights. The exercise price of the subscription rights is €25.64 (the closing price of the Galapagos share on Euronext Brussels and Amsterdam on the date of the offer). Each subscription right gives the right to subscribe for one new Galapagos share. The subscription rights can in principle not be exercised prior to June 12, 2028.

On June 16 and June 23, 2025, certain members of the Executive Committee were offered new restricted stock units (“RSUs”). The RSUs were offered for no consideration. Each RSU represents the right to receive, at Galapagos’ discretion, one Galapagos share or a payment in cash of an amount equivalent to the volume-weighted average price of the Galapagos share on Euronext Brussels over the 30-calendar day period preceding the relevant vesting date. The first RSU grant has a cliff vesting date on May 1, 2028 and the second RSU grant a four-year vesting period, with 25% vesting each year and a first vesting date on May 1, 2026. For the members of the Executive Committee, any vesting prior to the third anniversary of the offer date will always give rise to a payment in cash rather than a delivery of shares.

The table below sets forth the number of subscription rights offered and accepted under Subscription Right Plan 2025 (A) and the number of RSUs offered to each member of the Executive Committee during the first six months of 2025:

On June 23, 2025, we announced the appointment of Mr. Aaron Cox as Chief Financial Officer, effective July 7, 2025. Mr. Cox succeeds Thad Huston, who will remain with us through July 31, 2025. The related agreements have been entered into in line with our Remuneration Policy.

During the first six months of 2025, other than as disclosed in the paragraph above, there were no changes to related party transactions disclosed in the 2024 annual report that potentially had a material impact on our financials of the first six months of 2025.