Gross remuneration of our CEO for financial year 2019
Base salary (fixed): €600,000 (including €18,859.44 in the form of pension contributions).
Variable remuneration (bonus): given the level of achievement of the performance criteria to be entitled to a bonus (i.e. the corporate objectives for 2019), a cash bonus equal to 75% of the 2019 base salary (i.e. €450,000) was awarded over 2019 and will be paid in April 2020, and an equivalent number of RSUs (based on the average share price of the Galapagos share on Euronext Amsterdam during the month of April 2020) will be granted under the Annual Long-Term Incentive Plan. The value of the 50% deferred part of the bonus awarded over 2016 was established at the end of 2019 and resulted in a payment in early January 2020 of an amount of €772,104.57 (a multiple of 3.3 of the deferred bonus, as a result of the share price performance over the period 2016‑2019 as per the provisions of the Senior Management Bonus Scheme). In addition, an amount of €2,500,000 was paid and 16,922 RSUs were granted in October 2019, both as an exceptional special bonus awarded for the successful closing of the Gilead alliance transaction in 2019.
The proportion of fixed remuneration to variable remuneration thus amounted to 1:6.
Pension: €67,661.36 (of which €18,859.44 is part of the base salary).
Other components of the remuneration: company car, tax advisory services, and payments for invalidity and healthcare cover, totaling €42,564.45.
The table below further summarizes the information concerning the compensation earned by our CEO during the year ended 31 December 2019: