Minimum Share Ownership

The Remuneration Policy has set minimum share ownership requirements to further align Executive Committee members’ decision-making and financial interests with sustained, long-term shareholder value creation. Each Executive Committee member is 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 serving as of January 1, 2024 (being the effective date of the current Remuneration Policy) would reach these minimum share ownership requirements within five years of that date, and Executive Committee members appointed thereafter would reach these requirements within five years of their appointment. 

At this stage all Executive Committee members are currently building their shareholding. The fulfilment of the minimum share ownership requirement is periodically reviewed by the Board of Directors.