Company: GIFLF
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001104659-25-034245
Chunk: 221

Company: Grifols SA
Filing Date: 2025-04-11
Form: 20-F
Item: Item 6
Chunk 221
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 this end, an external competitive analysis of the remuneration package of all the Company’s employees, among them, the management team. This analysis is carried out to analyze the adequacy of the compensation levels, and ensure that these are in line with market standards of other companies in the sector for equivalent levels of responsibility. Salary surveys carried out by independent consultants are usually used as a source of information for this analysis.
As part of this core responsibility, in 2023, the Appointments and Remuneration Committee performed a thorough review of our previous director remuneration policy, obtained comments from shareholders, investors and other stakeholders, and obtained advise from independent consultant Mercer LLC. As a result of this process, our shareholders approved our current director remuneration policy at the general shareholders’ meeting held on June, 16, 2023, such director remuneration policy was submitted for amendment by the general shareholders’ meeting held on June, 14, 2024 in order to adapt it to the main circumstances and events that took place since the approval of the policy (the “Director Remuneration Policy”). The purpose of the new policy is to reinforce the alignment of our remuneration systems with our long-term strategic plan, shareholders’ interests and sustainability, all with prudent risk management and avoiding conflicts of interest.

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The main amendments to the Remuneration Policy approved by the shareholders’ meeting held on June 14, 2024 were the following: (i) eliminating in its entirety the remuneration set for Mr. Victor Grifols Roura as Honorary Chairman of the Board of Directors, given his resignation as Board member as of December 2023, (ii) eliminating any reference to the remuneration of Mr. Victor Grifols Deu and Mr. Raimon Grifols Roura as executive directors, given they dropped their executive roles as of May 31, 2024, (iii) including the remuneration package of Mr. Nacho Abia as CEO and (iv) including the Clawback Policy (approved by the Board of Directors in October 2023) as part of the Company’s remuneration policy. 
The Director Remuneration Policy was in force and applicable during 2023 and 2024 and will expire at the end of the 2025 fiscal year. In accordance with applicable law, a new remuneration policy must be submitted for approval by our general shareholders’ meeting before the end of the last financial year of its application (