Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063669
Chunk: 8

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 8
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4 and 2023, non-vested forfeited account balances totaled approximately $6,472,791 and $4,946,711,
respectively. During the years ended December 31, 2024 and 2023, forfeited amounts of $14,365 and $1,797, respectively, were used
to off-set employer matching contributions. During 2025, forfeitures of $7,740,917 were used to off-set the 2024 employer true up matching
contribution to the Plan and during 2024, forfeitures of $6,450,000 were used to off-set the 2023 employer true up matching contribution
to the Plan.

Administrative Budget–
T. Rowe Price (“TRP”) will provide the Plan with funding for an administrative budget of $3.75 per participant quarterly ($15.00
annually), based on the total number of terminated participants, beneficiaries, and alternative payees with a balance in the Plan as of
the last business day of each calendar quarter. The administrative budget shall be calculated on a quarterly basis after the end of each
quarter and established as an account in the trust in accordance with directions provided by the Company. The administrative budget may
be used to pay certain administrative expenses of the Plan, as directed by the Plan's named fiduciary, as defined in Section 402(a)(2) of
ERISA. Any amounts credited to the administrative budget and not used in the year so credited shall be allocated as determined by the
named fiduciary. For the Plan years 2024 and 2023, TRP contributed $268,129 and $378,158, respectively, to the Plan’s administrative
budget account. During 2024 and 2023, the Plan used $167,064 and $254,195, respectively, of the administrative budget to off-set Plan
expenses. In addition, during 2024 and 2023, amounts totaling $-0- and $395,431, respectively, were allocated to participant accounts.
As of December 31, 2024 and 2023, the balances of the administrative budget accounts were $200,147 and $87,909, respectively.
Included within the year end balances are revenue sharing contribution receivables of $50,632 for 2024 and $50,749 for 2023 and amounts
payable (included in accrued administrative expenses) from the administrative budget account of $96,500 for both years.