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Related party disclosures | 12 Months Ended
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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. Table of Contents 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:
|  | Peter Chambré |  |  | Harald F. Stock |  |  | Total |
(Euros in thousands) |  |  |  |  |  |  |  |  |
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:
|  | Peter Chambré |  |  | Harald F. Stock |  |  | Total |
(Euros in thousands) |  |  |  |  |  |  |  |  |
Supervisory board fee |  |  | 400 |  |  |  | 10 |  |  |  | 410 |
Travel expenses |  |  | 52 |  |  |  | 16 |  |  |  | 68 |
Total |  |  | 452 |  |  |  | 26 |  |  |  | 478 |
Table of Contents 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.

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