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v3.26.1

Share-based Payment | 3 Months Ended
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Mar. 31, 2026
Disclosure of terms and conditions of share-based payment arrangement [abstract] |
Share-based Payment | Note 8—Share-based Payment As an incentive to the senior management, other employees, members of the Board and select consultants, Ascendis Pharma A/S has established warrant programs, a Restricted Stock Unit (“RSU”) program adopted in December 2021, and a Performance Stock Unit (“PSU”) program adopted in February 2023, which are all classified as equity-settled share-based payment transactions. Share-based Compensation Costs Share-based compensation costs are determined using the grant date fair value and are recognized over the vesting period as research and development expenses, selling, general and administrative expenses, or cost of sales. For the three months ended March 31, 2026 and 2025, share-based compensation costs recognized in the unaudited condensed consolidated interim statement of profit or loss were €30.4 million and €25.6 million, respectively. Restricted Stock Unit Program RSUs are granted by the Board to members of senior management, other employees and members of the Board (the “RSU-holders”), as stipulated in the program. In addition, RSUs may be granted to select consultants. One RSU represents a right for the RSU-holder to receive one ADS or one ordinary share of Ascendis Pharma A/S upon vesting, if the vesting conditions are met. RSUs granted vest over three years with 1/3 of the RSUs vesting on each anniversary date from the date of grant, and require RSU-holders to be employed, appointed as a member of the Board, or retained as a consultant (the “service conditions”). Performance Stock Unit Program PSUs are granted by the Board to certain members of senior management (the “PSU-holders”), as stipulated in the program. In addition, PSUs may be granted to other employees, select consultants and members of the Board. One PSU represents a right for the PSU-holder to receive one ADS or one ordinary share of Ascendis Pharma A/S upon vesting. PSUs vest in a manner similar to the service conditions of the RSUs. In addition to service conditions, vesting is also contingent upon achievement of long-term strategic goals as evaluated by the Board no later than two weeks prior to each vesting date. Exceeding performance targets will not result in vesting of more than 100% of the PSUs granted, nor will it result in additional grants. RSU and PSU Activity The following table specifies the number of outstanding RSUs and PSUs:
|  | Restricted Stock Units |  |  | Performance Stock Units |  |  | Total |
Outstanding |  | (Number) |
January 1, 2026 |  |  | 1,179,828 |  |  |  | 165,258 |  |  |  | 1,345,086 |
Granted during the period |  |  | 541,771 |  |  |  | 102,778 |  |  |  | 644,549 |
Settled during the period |  |  | (63,779 | ) |  |  | (839 | ) |  |  | (64,618 | )
Transferred during the period |  |  | (500,052 | ) |  |  | (85,820 | ) |  |  | (585,872 | )
Forfeited during the period |  |  | (7,052 | ) |  |  | — |  |  |  | (7,052 | )
March 31, 2026 |  |  | 1,150,716 |  |  |  | 181,377 |  |  |  | 1,332,093 |
Specified by vesting year |  |  |  |  |  |  |  |  |
2027 |  |  | 588,187 |  |  |  | 88,311 |  |  |  | 676,498 |
2028 |  |  | 381,616 |  |  |  | 58,799 |  |  |  | 440,415 |
2029 |  |  | 180,913 |  |  |  | 34,267 |  |  |  | 215,180 |
March 31, 2026 |  |  | 1,150,716 |  |  |  | 181,377 |  |  |  | 1,332,093 |
Warrant Program Warrants are granted by the Board in accordance with authorizations given to it by the shareholders of Ascendis Pharma A/S to all employees, members of the Board and select consultants. Each warrant carries the right to subscribe for one ordinary share of a nominal value of DKK 1. The exercise price is fixed at the fair market value of the Company’s ordinary shares at the time of grant as determined by the Board. Warrant Activity The following table specifies the number and weighted average exercise prices of, and movements in, warrants:
|  | Warrants |  |  | Weighted Average Exercise Price |
|  | (Number) |  |  | (EUR) |
Outstanding |  |  |  |  |  |
January 1, 2026 |  |  | 5,222,591 |  |  |  | 103.24 |
Granted during the period |  |  | 81,080 |  |  |  | 191.46 |
Exercised during the period |  |  | (399,438 | ) |  |  | 81.27 |
Forfeited during the period |  |  | (10,934 | ) |  |  | 132.33 |
March 31, 2026 |  |  | 4,893,299 |  |  |  | 106.43 |
Vested at March 31, 2026 |  |  | 4,110,399 |  |  |  | 100.02 |
The exercise prices of outstanding warrants under the Company’s warrant programs range from €11.98 to €206.61 depending on the grant dates.

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