12.

Employee Benefits

Details of the employee benefits are as follows:


	Three-month period ended June 30,						Six-month period ended June 30,
	2018			2017			2018			2017
	(euros in thousands)
Salaries and wages		2,876			2,451			5,505			4,182
WBSO subsidy		(733	)		(953	)		(1,900	)		(2,005	)
Social security premiums		198			146			449			293
Health insurance		69			36			188			62
Pension costs		188			181			390			322
Share award expense		2,109			3,254			4,554			7,880
Other personnel expense		224			148			433			264

Total employee benefits expense		4,931			5,263			9,619			10,998

Share-based payment expenses (see Note 9) were recognized as employee benefit expenses as follows:


	Three-month period ended June 30,				Six-month period ended June 30,
	2018		2017		2018		2017
	(euros in thousands)
Research and development costs		714		673		1,525		1,798
Management and administrative costs		1,343		2,376		2,852		5,782
Other expenses		52		205		177		300

		2,109		3,254		4,554		7,880

Subsidies earned under the WBSO relating to eligible research and development costs are deferred and recognized in the Company’s income statement as a reduction to labor costs over the period labor costs are expected to be incurred. The Company has received and recognized subsidies of €0.7 million and €1.9 million for the three- and six-monthperiods ended June 30, 2018, respectively, as compared to €1.0 million and €2.0 million for the three- and six-month periods ended June 30, 2017, respectively. The decrease in subsidies is primarily attributable to the decrease in eligible payroll tax withholdings during the same period.

The Company’s headcount at June 30, 2018 was approximately 85 full-time equivalents and consisted of 70 employees in the Netherlands and 15 employees in the United States. A total of 18 employees who are devoted to activities other than research and development and overall management of the Company were included under management and administration costs for the three- and six-month periods ended June 30, 2018.

The Company’s headcount at June 30, 2017 was approximately 64 full-time equivalents and consisted of 55 employees in the Netherlands and nine employees in the United States. A total of 13 employees who were devoted to activities other than research and development and overall management of the Company were included under management and administration costs for the three- and six-month periods ended June 30, 2017.