Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063672
Chunk: 19

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 19
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, these transactions qualify as party-in-interest transactions.

The Master Trust invests in shares
of the parent company, Sanofi, through the Sanofi-US ADR Fund (the “fund”); therefore, these transactions qualify as party-in-interest
transactions. As of October 5, 2018, the “fund” was transitioned to individual share accounting at the direction of the Plan
sponsor.

During the year ended December 31, 2024, the Master Trust made purchases of $-0-, sales of approximately $4,146,229, realized gains of $40,279, and dividend income of $1,631,140 earned from the investment in the Company’s common stock. The total shares and market value of the company stock held by the Master Trust at December 31, 2024 were 881,132 and $42,496,960, respectively.During
the year ended December 31, 2023, the Master Trust made purchases of $-0-, sales of approximately $4,993,336, realized gains
of $421,926, and dividend income of $1,712,492 earned from the investment in the Company’s common stock. The total shares and market
value of the company stock held by the Master Trust at December 31, 2023 were 1,020,355 and $50,742,243, respectively.

Certain administrative fees have been
paid through a revenue sharing agreement with T. Rowe Price Retirement Plan Services Inc. rather than direct payments and qualify as party-in-interest
transactions.

In addition, certain Plan participants
borrowed from the Plan. As of December 31, 2024 and 2023, the outstanding loans of the Plan participants were $117,806 and $60,810,
respectively (refer to Note 1 for applicable interest rates). Loans to participants also qualify as party-in-interest transactions.

All of the above transactions are not
considered prohibited transactions pursuant to the prohibited transaction rules of the Department of Labor and Section 408 of ERISA.

| 6. | Termination of the Plan |

Although it has not expressed any intent
to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the
provisions of ERISA. Upon such termination of the Plan, the interest of each participant in the trust fund will be distributed to such
participant or his or her beneficiary at the time prescribed by the Plan terms and the