Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 232

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 6
Chunk 232
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-term): members of the Executive Committee may be entitled to a short-term cash component, being a cash bonus. The award of a bonus is merit-driven and based on the group’s performance management system that is based on annual individual performance (including exceptional deliverables) in combination with our overall performance, compared to the level of achievement of individual and corporate objectives that are established annually. The annual bonus is designed to incentivize and reward executives for the delivery of short-term corporate objectives and progress towards longer-term strategic objectives as well as the individual’s contribution to these over the time horizon of a year. As from the year that ended December 31, 2019 and under our Remuneration Policy, the maximum cash bonus of the Chief Executive Officer is set at 75% of his annual gross base salary. The actual bonus of the Chief Executive Officer is determined by our Board of Directors, upon recommendation of the Remuneration Committee, and is based on the achievement of corporate and individual objectives, ranging from 0% to a maximum of 125% of target for truly exceptional performance. The maximum cash bonus for the other members of the Executive Committee is set at 50% of their annual gross base salary. The actual bonuses of these other Executive Committee members are determined by our Board of Directors, upon recommendation of the Chief Executive Officer, and are based on the achievement of corporate and individual objectives, ranging from 0% to a maximum of 125% of target for truly exceptional performance. In addition, exceptional special bonuses, outside the scope of the regular bonus schemes, can be considered
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by the Board of Directors, upon recommendation of the Remuneration Committee, in the event of and for exceptional achievements.
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●   Variable remuneration (long-term) – Incentive plans: as from the year that ended December 31, 2019 and until December 31, 2023, the Chief Executive Officer was eligible to receive the equivalent number of restricted stock units, or RSUs, to 75% of his cash base salary, and the other members of the Executive Committee were eligible to receive the equivalent number of RSUs to 50% of the total amount of their aggregate cash base salaries as an annual long term incentive. As from the year ended December 31, 2024 and under our Remuneration Policy, for transparency and simplicity, the