
5
Gouvernance d’entreprise
2.1 Généralités _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 48
2.2 Conseil d’Administration
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 48
2.2.1 Composition du Conseil d’Administration ___________________________________________________________________________________________________________________________________________________________________________________________________________________ 48
2.2.2 Indépendance des administrateurs
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 52
2.2.3 Comités au sein du Conseil d’Administration
________________________________________________________________________________________________________________________________________________________________________________________________________ 53
2.2.4 Réunions du Conseil d’Administration et des comités
________________________________________________________________________________________________________________________________________________________________________ 55
2.3 Direction exécutive ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 57
2.4 Confl its d’intérêts
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 59
2.5 Transactions avec parties liées
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 64
2.6 Écarts par rapport au Code belge de gouvernance d’entreprise
______________________________________________________________________________________________________________________________ 64
2.7 Politique en matière de diversité
______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 65
2.8 Politique de rémunération
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 66
2.9 Rapport de rémunération
_____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 66
2.9.1 Introduction _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 66
2.9.2 Rémunération totale
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 70
2.9.3 Rémunération fondée sur des actions
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 74
2.9.4 Indemnité de départ
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 78
2.9.5 Recours au droit de récupération
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 78
2.9.6 Dérogations à la politique de rémunération
____________________________________________________________________________________________________________________________________________________________________________________________________________ 78
2.9.7 Évolution de la rémunération et des performances de la Société
_______________________________________________________________________________________________________________________________ 78
2.9.8 Vote de la réunion des actionnaires à propos du rapport de rémunération 2023
______________________________________________________________________ 80
2.10 Contrôle interne et gestion des risques ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 81
2.11 Description des principaux risques associés aux activités de la Société
___________________________________________________________________________________________________ 83
2.11.1 Risques liés à notre position fi nancière ______________________________________________________________________________________________________________________________________________________________________________________________________________________________ 83
2.11.2 Risques liés au développement de nos produits et produits candidats
____________________________________________________________________________________________________________ 85
2.11.3 Risques liés à notre dépendance à l’égard des tiers et du personnel clé
_______________________________________________________________________________________________________ 90
2.11.4 Risques liés à la production
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 92
2.11.5 Risques liés aux questions de conformité légale et réglementaire
____________________________________________________________________________________________________________________________ 94
2.11.6 Risques liés à la propriété intellectuelle
_____________________________________________________________________________________________________________________________________________________________________________________________________________________________ 101
2.11.7 Risques liés aux actions ordinaires
_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 106
Actions et actionnaires
3.1 Structure du Groupe _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 112
3.2 Capital et actions
_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 112
3.2.1 Augmentations de capital et émission d’actions en 2024 ____________________________________________________________________________________________________________________________________________________________ 112
3.2.2 Droits de souscription en circulation
______________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 113
3.2.3 Nombre, forme et transférabilité des actions
________________________________________________________________________________________________________________________________________________________________________________________________________ 114
3.2.4 Droits attachés aux actions
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 114
3.2.5 Procédure de modifi cation du capital
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 114
2
3