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Galapagos Receives Transparency Notifications from Bank of America

Written by Customer Service on . Posted in Public Companies.

Mechelen, Belgium; November 26, 2025, 07:30 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) received transparency notifications from Bank of America.

Pursuant to Belgian transparency legislation1, Galapagos received transparency notifications on November 18 and November 19, 2025, from Bank of America Corporation indicating that it positively crossed the threshold of 5% of Galapagos’ voting rights on November 12, 2025 following an acquisition of Galapagos’ voting rights and equivalent financial instruments, and then subsequently fell below this threshold on November 14, 2025 following the disposal of such instruments.

On November 14, 2025, the Bank of America Corporation (taking into account the holding of its affiliates) owned 103,534 voting rights and 2,159,259 equivalent financial instruments, representing together 3.43% of Galapagos’ currently outstanding 65,897,071 shares, versus 168,924 voting rights and 3,295,951 equivalent financial instruments, representing together 5.26%, in the previous notification.

Summary of the transactions:

Date on which the threshold was crossedDate of notificationDirect voting rights after the transactionEquivalent financial instruments after the transactionTotal
November 12, 2025November 18, 20250.26%5.00%5.26%
November 14, 2025November 19, 20250.16%3.28%3.43%

Content of the notifications from Bank of America Corporation:
The notification dated November 19, 2025 contains the following information:

  • Date of notification: November 19, 2025
  • Date on which the threshold is crossed: November 14, 2025
  • Threshold of voting rights crossed downwards (in %): 5%
  • Notification by: Bank of America Corporation
  • Denominator: 65,897,071
  • Reason for the notification: Acquisition or disposal of financial instruments that are treated as voting securities
  • Notified details:
A) Voting RightsPrevious notificationAfter the transaction
 # of voting rights# of voting rights% of voting rights
Holder of voting rights Linked to securitiesNot linked to securitiesLinked to securitiesNot linked to securities
Bank of America Corporation00 0.00% 
Bank of America, National Association12,56812,476 0.02% 
Merrill Lynch International65,07066,430 0.10% 
Managed Account Advisors LLC33 0.00% 
BofA Securities, Inc.76,70010,042 0.02% 
Merrill Lynch, Pierce, Fenner & Smith
Incorporated		14,46214,462 0.02% 
U.S. Trust Company of Delaware121121 0.00% 
Subtotal168,924103,534 0.16% 
 TOTAL103,53400.16%0.00%

B) Equivalent financial instruments After the transaction
Holder of equivalent financial instrumentsType of financial instrumentExpiration dateExercise period or date# of voting rights that may be acquired if the instrument is exercised% of voting rightsSettlement
Merrill Lynch InternationalRight to Recall  195,5330.30%physical
BofA Securities, Inc.Rights of Use  1,796,9752.73%physical
Merrill Lynch InternationalRights of Use  8,6790.01%physical
Merrill Lynch InternationalPhysical Call Option19/06/2026 100,0000.15%physical
Bank of America, National AssociationSwaps15/10/2027 270.00%cash
Bank of America, National AssociationSwaps15/06/2026 12,5000.02%cash
Merrill Lynch InternationalSwaps30/04/2026 18,7900.03%cash
Merrill Lynch InternationalSwaps02/07/2026 7170.00%cash
Merrill Lynch InternationalSwaps15/10/2027 270.00%cash
Merrill Lynch InternationalSwaps01/11/2027 1620.00%cash
Merrill Lynch InternationalSwaps15/06/2026 12,5000.02%cash
Merrill Lynch InternationalSwaps30/01/2026 1690.00%cash
Merrill Lynch InternationalSwaps17/11/2025 12,5210.02%cash
Merrill Lynch InternationalSwaps28/08/2026 6590.00%cash
 TOTAL  2,159,2593.28% 

TOTAL (A&B)# of voting rights% of voting rights
 2,262,7933.43%

The chain of control has been described at the end of the notification (section 11) and can be found here.

The notification dated November 18, 2025 contains the following information:

  • Date of notification: November 18, 2025
  • Date on which the threshold is crossed: November 12, 2025
  • Threshold of voting rights crossed upwards (in %): 5%
  • Notification by: Bank of America Corporation
  • Denominator: 65,897,071
  • Reason for the notification: Acquisition or disposal of voting securities or voting rights and acquisition or disposal of financial instruments that are treated as voting securities
  • Notified details:
A) Voting RightsPrevious notificationAfter the transaction
 # of voting rights# of voting rights% of voting rights
Holder of voting rights Linked to securitiesNot linked to securitiesLinked to securitiesNot linked to securities
Bank of America Corporation 000.00%0.00%
Bank of America, National Association 12,56800.02%0.00%
Merrill Lynch International 65,07000.10%0.00%
Managed Account Advisors LLC 300.00%0.00%
BofA Securities, Inc. 76,70000.12%0.00%
Merrill Lynch, Pierce, Fenner & Smith
Incorporated		 14,46200.02%0.00%
U.S. Trust Company of Delaware 12100.00%0.00%
Subtotal 168,924 0.26% 
 TOTAL168,92400.26%0.00%

B) Equivalent financial instruments After the transaction
Holder of equivalent financial instrumentsType of financial instrumentExpiration dateExercise period or date# of voting rights that may be acquired if the instrument is exercised% of voting rightsSettlement
Merrill Lynch InternationalRight to Recall  196,4910.30%physical
BofA Securities, Inc.Rights of Use  2,936,4524.46%physical
Merrill Lynch InternationalRights of Use  4,0890.01%physical
Merrill Lynch InternationalPhysical Call Option19/06/2026 100,0000.15%physical
Merrill Lynch InternationalSwaps30/04/2026 19,2200.03%cash
Bank of America, National AssociationSwaps15/06/2026 12,5000.02%cash
Merrill Lynch InternationalSwaps02/07/2026 7440.00%cash
Merrill Lynch InternationalSwaps15/06/2026 12,5000.02%cash
Merrill Lynch InternationalSwaps30/01/2026 1,4340.00%cash
Merrill Lynch InternationalSwaps17/11/2025 12,5210.02%cash
 TOTAL  3,295,9515.00% 

TOTAL (A&B)# of voting rights% of voting rights
 3,364,8755.26%

The chain of control has been described at the end of the notification (section 11) and can be found here.

For further information, contact Galapagos:
Investor Relations
Glenn Schulman

+1 412 522 6239
ir@glpg.com

Corporate Communications
Marieke Vermeersch
+32 479 490 603

media@glpg.com

Visit us at www.glpg.com or follow us on LinkedIn or X.

1 Belgian Act of 2 May 2007 on the disclosure of major shareholdings in issuers whose shares are admitted to trading on a regulated market and regarding miscellaneous provisions, as amended from time to time.

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