Claw-back right of Galapagos relating to variable remuneration

In 2019, there were no contractual provisions in place between Galapagos and the CEO or the other members of the executive committee that give Galapagos a contractual right to reclaim from said executives the variable remuneration that would be awarded based on erroneous financial information.

As from 2020, contractual provisions will apply to ensure that Galapagos has the right to have the CEO or the other members of the executive committee forfeit any deferred or unvested portion of their variable remuneration in case of (i) a material breach of Galapagos’ code of business conduct and ethics or (ii) a restatement of Galapagos’ financial statements that has a material negative impact on the company.