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Related party disclosures
 12 Months Ended
Dec. 31, 2020
Text Block [Abstract]  
Related party disclosures
26.
Related party disclosures
Key management personnel have been defined as the members of the Executive Committee of Immatics N.V.
Compensation of key management personnel:
 
   
Year ended December 31,
 
   
2020
   
2019
   
2018
 
   
(Euros in thousands)
 
Fixed
   2,660    1,202    1,088 
Variable
   886    521    433 
Share-based compensation expense
   13,841    697    119 
   
 
 
   
 
 
   
 
 
 
Total key management compensation
  
 
17,387
 
  
 
2,420
 
  
 
1,640
 
   
 
 
   
 
 
   
 
 
 
Fixed and variable key management compensation represent short-term employee benefits.
As of December 31, 2020, and 2019, amounts of €0.0 million and €0.7 million were accrued for key management compensation.
The members of the Supervisory Board of the Group received a fixed fee as well as reimbursed travel expenses.
Total compensation for the Supervisory Board amounted to €2.7 million in 2020:
 
(Euros in thousands)
  
Peter
Chambré
   
Harald F.
Stock
   
Michael
G. Atieh
   
Paul
Carter
   
Heather
L. Mason
   
Adam
Stone
   
Christoph
Hettich
   
Eliot
Forster
   
Total
 
Supervisory board compensation
   140    16    28    26    20    20    20    12   
 
282
 
Travel expenses
   4    —      —      —      —      —      —      —     
 
4
 
Payment Exit arrangement
 
 
2,394
 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
 
2,394
 
Share-based compensation expense
   1,046     —     70    70    70    70    70    40   
 
1,436
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total cash compensation
  
 
3,584
 
  
 
16
 
  
 
98
 
  
 
96
 
  
 
90
 
  
 
90
 
  
 
90
 
  
 
52
 
  
 
4,116
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Harald F. Stock and Peter Chambré were members of the Supervisory Board of Immatics in 2019 and in 2018. They received a fixed fee as Supervisory Board members and reimbursement for travel expenses.
 
Total compensation for the Supervisory Board amounted to €0.4 million in 2019:
 
(Euros in thousands)
  
Peter
Chambré
   
Harald
F. Stock
   
Total
 
Supervisory board fee
   300    9   
 
309
 
Travel expenses
   87    20   
 
107
 
   
 
 
   
 
 
   
 
 
 
Total
  
 
387
 
  
 
29
 
  
 
416
 
   
 
 
   
 
 
   
 
 
 
 
Total compensation for the Supervisory Board amounted to €0.5 million in 2018:
 
(Euros in thousands)
  
Peter
Chambré
   
Harald
F. Stock
   
Total
 
Supervisory board fee
   400    10   
 
410
 
Travel expenses
   52    16   
 
68
 
   
 
 
   
 
 
   
 
 
 
Total
  
 
452
 
  
 
26
 
  
 
478
 
   
 
 
   
 
 
   
 
 
 
Prior to the ARYA Merger, Immatics N.V. established the 2020 Incentive Plan. Immatics N.V. granted certain service-based options out of the 2020 Incentive Plan to its management and directors and in addition, performance-based options to its management upon closing of the ARYA Merger. The service-based options will vest based upon satisfaction of a four-year time-based vesting schedule, which provides for 25% vesting on the first anniversary of the vesting commencement date and quarterly vesting thereafter. The performance-based options will vest based both on achievement of certain market capitalization milestones and satisfaction of a four-year time-based vesting schedule, which provides for 25% vesting on the first anniversary of the vesting commencement date and quarterly vesting thereafter. The following options were granted to Immatics’ Managing Director and Supervisory Directors:
 
   
Type of options
  
Grant date
   
Number of
Options
   
Strike
Price in
USD
   
Expiration date
Managing Director
                     
Harpreet Singh
  Performance-based options   June 30, 2020    1,598,000    10   June 30, 2030
Harpreet Singh
  Service options   June 30, 2020    168,000    10   June 30, 2030
Harpreet Singh
  Matching Stock options   June 30, 2020    264,624    10   June 30, 2030
Harpreet Singh
  Converted options   June 30, 2020    30,939    1.06   July 1, 2027
Harpreet Singh
  Converted options   June 30, 2020    145,371    1.17   January 1, 2028
Harpreet Singh
  Service options   December 17, 2020    168,000    9.70   December 17, 2030
Supervisory Directors
                     
Peter Chambré
  Service options   June 30, 2020    25,000    10   June 30, 2030
Peter Chambré
  Matching Stock options   June 30, 2020    211,974    10   June 30, 2030
Adam Stone
  Service options   June 30, 2020    25,000    10   June 30, 2030
Christoph Hettich
  Service options   June 30, 2020    25,000    10   June 30, 2030
Heather L. Mason
  Service options   June 30, 2020    25,000    10   June 30, 2030
Michael G. Atieh
  Service options   June 30, 2020    25,000    10   June 30, 2030
Paul Carter
  Service options   June 30, 2020    25,000    10   June 30, 2030
Eliot Forster
  Service options   September 14, 2020    25,000    9.16   September 13, 2030
An additional aggregate of 1,680,000 performance-based options and 539,000
service options to purchase ordinary shares, were granted to other Immatics’ key management personnel, who are members of the Executive Committee but not Directors. Certain key management personnel were also participants in the share-based compensation plans of Immatics
GmbH (2010 Plan and 2016 Plan).
As part of the replacement awards issued in connection with the ARYA Merger (See Note 18),
these
key management personnel received cash payments before taxes of €3.4 million, 417,415 converted options in Immatics N.V. and 750,076 matching stock options in Immatics N.V. The cash payments mainly covered wage tax obligations of the employees.
The Group did not enter into transactions with related entities in 2020, 2019 and 2018 other than the mentioned compensation contracts.