Minimum Share Ownership

As of 2024, our Remuneration Policy has set revised minimum share ownership requirements to further align Executive Committee members’ decision-making and financial interests with sustained, long-term shareholder value creation. The applicable Executive Committee member shall be required to hold a number of Galapagos shares corresponding to the value of such member’s annual gross base salary, as follows, during their tenure as Executive Committee member:

• Chief Executive Officer: two times annual gross base salary; and
• Other Executive Committee members: one time annual gross base salary.

We expect that Executive Committee members should reach these minimum share ownership requirements within five years of the effective date of the 2024 Remuneration Policy, being January 1, 2024, or as from a later Executive Committee appointment. 

The Board of Directors expects RSU plan vesting (in case of cash-settled RSUs, using the net cash to acquire shares, subject to compliance with applicable securities laws) over time to be used to reach the applicable minimum share ownership requirement. 

At this stage all Executive Committee members (in office since 2022 and 2023 respectively) are building their shareholding. The fulfilment of the minimum share ownership requirement is periodically reviewed by the Board of Directors.