Genmab A/S Announces Appointments and Compensation Decisions at Annual General Meeting
On March 12, 2025, Genmab A/S held its Annual General Meeting (AGM) in Copenhagen, Denmark. Following the meeting, the Board of Directors made several key decisions.
New Leadership
Ms. Deirdre P. Connelly was appointed as the new Chair of the Board of Directors. Ms. Connelly brings extensive experience in the biotech industry, having previously served as the President and Chief Executive Officer of Amgen Inc. Ms. Pernille Erenbjerg was appointed as the Deputy Chair.
Compensation Packages for Board Members and Employees
The Board of Directors decided to grant a total of 18,140 compensation units to members of the Board and employees. Of these, 13,926 were in the form of restricted stock units (RSUs), and 4,214 were in the form of warrants.
Restricted Stock Units (RSUs)
The RSUs were awarded at a cost of DKK 0 to the recipients, providing them with a conditional right to receive one share in Genmab A/S each. The fair value of each RSU was set at the closing market price of one Genmab A/S share on the date of grant, which was DKK 1,372.50. The RSUs will vest on the first banking day of the month following a period of three years from the grant date.
It is important to note that the vesting of these RSUs is subject to certain conditions set out in the restricted stock unit program adopted by the Board of Directors. More information about Genmab’s RSU program can be found on the company’s website.
Warrants
The warrants were granted free of charge and entitle the owners to subscribe for one share of nominally DKK 1 in Genmab A/S, subject to payment of the exercise price of DKK 1,372.50. The fair value of each warrant was calculated using the Black-Scholes formula and was found to be DKK 421.30.
The warrants will vest three years after the grant date and will expire at the seventh anniversary of the grant date.
Impact on Stakeholders
For individual investors, the appointment of a new Chair and Deputy Chair, as well as the granting of RSUs and warrants, may not have a significant impact on their holdings. However, these decisions could potentially influence the company’s stock price in the short term.
For the broader business community and the biotech industry as a whole, these decisions highlight Genmab A/S’ ongoing commitment to attracting and retaining top talent. The company’s competitive compensation packages are an important tool in this regard.
About Genmab A/S
Genmab A/S is an international biotechnology company dedicated to improving the lives of patients with innovative and differentiated antibody therapeutics. The company has a rich 25-year history of developing next-generation antibody technology platforms and leveraging translational, quantitative, and data sciences to create a robust pipeline of bispecific T-cell engagers, antibody-drug conjugates, next-generation immune checkpoint modulators, and effector function-enhanced antibodies.
By 2030, Genmab A/S aims to transform the lives of people with cancer and other serious diseases with its knock-your-socks-off (KYSO) antibody medicines®.
Conclusion
In conclusion, the Annual General Meeting of Genmab A/S on March 12, 2025, resulted in several important decisions, including the appointment of a new Chair and Deputy Chair and the granting of RSUs and warrants to members of the Board and employees. These decisions are expected to have minimal impact on individual investors but will help Genmab A/S attract and retain top talent as it continues its mission to develop innovative antibody therapeutics and transform the lives of patients with serious diseases.
- Genmab A/S held its Annual General Meeting on March 12, 2025.
- Ms. Deirdre P. Connelly was appointed as the new Chair, and Ms. Pernille Erenbjerg was appointed as the Deputy Chair.
- The Board of Directors decided to grant a total of 18,140 compensation units to Board members and employees, including 13,926 RSUs and 4,214 warrants.
- The RSUs will vest after three years and are subject to certain conditions. More information can be found on the company’s website.
- The warrants will vest three years after the grant date and will expire at the seventh anniversary of the grant date.
- The appointment of a new Chair and the granting of RSUs and warrants are expected to have minimal impact on individual investors but will help Genmab A/S attract and retain top talent as it continues its mission to develop innovative antibody therapeutics and transform the lives of patients with serious diseases.
