Warrants awarded to, exercised by or expired for the executive committee members during financial year 2019
The following number of warrants were offered to and accepted by members of the executive committee in 2019 under Warrant Plan 2019, issued by the board of directors under the authorized capital on 10 April 2019: to Mr. Van de Stolpe: 100,000 warrants, to Mr. Filius: 65,000 warrants, to each of Dr. Hoekema, Dr. Wigerinck and Dr. Abi-Saab: 50,000 warrants.
The warrants issued under Warrant Plan 2019 have an exercise price of €95.11, a life time of 8 years, and vest only and fully at the end of the third calendar year after the year of the grant, except for Mr. Van de Stolpe, whose warrants vest over a period of 36 months at a rate of 1/36th per month. The warrants cannot be exercised prior to the end of the third calendar year after the year of the grant; they are not transferable, and each warrant gives the right to subscribe to one share of Galapagos NV.
At the end of 2019, Mr. Van de Stolpe owned 478,289 shares of Galapagos NV and 826,874 warrants. The other members of the executive committee held an aggregate of 75,357 shares and 1,345,000 warrants. More specifically, Dr. Abi-Saab held 305,000 warrants, Mr. Filius held 10,000 shares and 315,000 warrants, Dr. Hoekema held 22,357 shares and 365,000 warrants and Dr. Wigerinck held 43,000 shares and 360,000 warrants. Each warrant entitles its holder to subscribe to one share of Galapagos NV.
No warrants expired for members of the executive committee in 2019 and, in aggregate, 282,500 warrants were exercised by members of the executive committee in 2019 (60,000 warrants were exercised by Mr. Van de Stolpe, 75,000 warrants by Mr. Filius, 100,000 warrants by Dr. Wigerinck and 47,500 warrants by Dr. Hoekema).