Company: GIFLF
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001104659-25-034245
Chunk: 239

Company: Grifols SA
Filing Date: 2025-04-11
Form: 20-F
Item: Item 6
Chunk 239
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 Labor Confederation (Confederación General del Trabajo - CGT).

149

In France, Germany and other countries, we regularly meet with workers’ legal representation. In Italy, we discuss decisions that could impact collective working conditions with trade union organizations. We fully support the fundamental right of association and collective bargaining in alignment with the Universal Declaration of Human Rights. In Spain, Germany, Italy, France, Argentina and Brazil, 100% of our employees work under collective agreements. Together, they represent 27.9% of the total workforce. Since no industry-specific agreements exist in the United States, collective bargaining is carried out at the company level.
We subscribe to an insurance policy that covers death or permanent disability of employees caused by work accidents. All of our employees are covered under this policy. We implemented a defined contribution pension plan for all our Spanish entities beginning on January 1, 2002, which excludes top management and which requires us to make matching payments to these employees. Our contribution to this pension plan was €1.3 million in the year ended December 31, 2024, compared to €1.1 million and €1.0 million in the years ended December 31, 2023 and 2022, respectively. We also sponsor a savings plan for the benefit of U.S. employees, which qualifies as a defined contribution plan under Section 401(a) of the Internal Revenue Code of 1986, as amended. We make fully vested matching contributions to the savings plan, which totaled $33.6 million in the year ended December 31, 2024, compared to $33.4 million and $34.1 million for the years ended December 31, 2023 and 2022 respectively. For certain employees in Germany, we have a defined benefit pension plan, as required by statutory law. The pension cost relating to this plan is not material.

E.   Share Ownership
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For information on the direct, indirect and represented holdings of our current directors and executive officers with respect to our Class A shares as of December 31, 2024 see Item 7 of this Part I, “Major Shareholders and Related Party Transactions—A. Major Shareholders.”
In March 2022, we established a Restricted Share Plan (“RSU”) under which eligible employees are entitled to receive up to 50% of their annual bonus in Class B Shares or Class B ADSs and we match this with an additional 50% contribution in RSUs. The Class B shares or