Galapagos' remuneration policy

Galapagos’ remuneration policy was prepared in accordance with the Belgian Companies Code. Galapagos’ shareholders approved the current remuneration policy at the 2020 annual shareholders’ meeting with 68.21% of shareholder votes. The policy applies for four years from the date of approval. The remuneration policy became effective as of 1 January 2020.

Galapagos encourages an open and constructive dialogue with its investors to discuss its approach to governance, including remuneration. The increased disclosure in this year’s remuneration report reflects the input received from Galapagos’ shareholders over the years as well as developments in the legislative framework, including individual disclosures for each supervisory and management board member. This year’s remuneration report introduces new tables that provide additional insight into the total remuneration received by management and supervisory board members.

The objective of our remuneration policy is to attract, motivate and retain the diverse qualified and expert individuals who are key in order to achieving our strategic and operational objectives. We further aim to be competitive in the labor market by benchmarking against relevant peer groups, incentivizing performance at the highest possible level, allowing for differential rewards according to individual performance, avoiding discrimination on any grounds other than performance, and reinforcing an open, fair, consistent and equitable culture.