Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 400

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 400
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 1,                   1,175,453         736,095         657,803  
  Granted during the year                       840,088         920,510         470,273  
  Forfeited during the year                  ( 476,482)      ( 270,474)      ( 172,885)  
  Paid in cash during the year               ( 232,788)      ( 210,678)      ( 219,096)  
  Outstanding on December 31,                 1,306,271       1,175,453         736,095  

The RSUs are measured based on the volume-weighted average price of the Galapagos share on Euronext Brussels over the30-calendar day period preceding the reporting period and they are re-measured at each reporting date. We recognize the corresponding expense and liability over the vesting period. The total liability relating to outstanding RSUs on December 31, 2024 amounted to €16.7million (2023: €13.8million, 2022: €12.9million).

The following table provides an overview of the outstanding RSUs per category of RSU holders on December 31, 2024, 2023 and 2022.

                                          December 31,                                                    
                                          2024                                                            
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────
                                          (in number of RSUs)                                             
  Members of the Executive Committee                                 564,034        438,738      332,038  
  Personnel                                                          742,237        736,715      404,057  
  Total outstanding RSUs                                           1,306,271      1,175,453      736,095  

33. Related parties

Relationship and transactions with entities with control of, or significant influence over, Galapagos

Gilead

Gilead exercises significant influence over us as from the equity subscription on August 23, 2019. As a result of the equity subscription we received a transparency notification from Gilead on August 28, 2019 confirming they held22.04% of the then issued and outstanding shares of Galapagos.

By exercising Warrant A on November 6, 2019 Gilead increased its ownership in Galapagos to25.10% of the then outstanding shares. Gilead further increased its ownership to25.84% at December 31, 201