<SEC-DOCUMENT>0001193125-25-337324.txt : 20251230
<SEC-HEADER>0001193125-25-337324.hdr.sgml : 20251230
<ACCEPTANCE-DATETIME>20251230174144
ACCESSION NUMBER:		0001193125-25-337324
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251226
FILED AS OF DATE:		20251230
DATE AS OF CHANGE:		20251230

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GENMAB A/S
		CENTRAL INDEX KEY:			0001434265
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37773
		FILM NUMBER:		251615287

	BUSINESS ADDRESS:	
		STREET 1:		TOLDBODGADE 33
		CITY:			1253 COPENHAGEN K
		STATE:			G7
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		TOLDBODGADE 33
		CITY:			1253 COPENHAGEN K
		STATE:			G7
		ZIP:			00000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Merus N.V.
		CENTRAL INDEX KEY:			0001651311
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		YALELAAN 62
		CITY:			3584 CM UTRECHT
		STATE:			DE
		BUSINESS PHONE:		31 030 253 8800

	MAIL ADDRESS:	
		STREET 1:		YALELAAN 62
		CITY:			3584 CM UTRECHT
		STATE:			DE

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Merus B.V.
		DATE OF NAME CHANGE:	20150819
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-26</periodOfReport>

    <notSubjectToSection16>true</notSubjectToSection16>

    <issuer>
        <issuerCik>0001651311</issuerCik>
        <issuerName>Merus N.V.</issuerName>
        <issuerTradingSymbol>MRUS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001434265</rptOwnerCik>
            <rptOwnerName>GENMAB A/S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CARL JACOBSENS VEJ 30</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>2500 VALBY</rptOwnerCity>
            <rptOwnerState>G7</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>DENMARK</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares, nominal value EUR 0.09 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2978</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>97.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>72831487</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares, nominal value EUR 0.09 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1052806</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>97.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>73884293</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares, nominal value EUR 0.09 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>75867199</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>97.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0.00</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The common shares, nominal value EUR 0.09 per share (each, a &quot;Common Share,&quot; and collectively, the &quot;Common Shares&quot;), of the Issuer reported herein were held of record by Genmab Holding II B.V. (&quot;Purchaser&quot;), a wholly owned subsidiary of Genmab A/S (&quot;Parent&quot;).  Parent, as the parent entity of Purchaser, beneficially owns the Common Shares reported herein.</footnote>
        <footnote id="F2">On December 12, 2025, Purchaser commenced a subsequent offering period during which Purchaser acquired an additional 1,365,432 Common Shares (as previously reported), as well as an additional 2,978 Common Shares on December 26, 2025 and 1,052,806 Common Shares on December 29, 2025. Parent, as the parent entity of Purchaser, beneficially owned the Common Shares held directly by Purchaser.</footnote>
        <footnote id="F3">On September 29, 2025, Parent, Purchaser and the Issuer entered into a transaction agreement (the &quot;Transaction Agreement&quot;). In accordance with the Transaction Agreement, Parent and Purchaser consummated the Back-End Merger (as defined in the Transaction Agreement) effective as of 6:00 p.m. New York City time on December 29, 2025 (12:00 a.m. Central European Time on December 30, 2025) and the Back-End Cancellation (as defined in the Transaction Agreement) effective as of 6:30 p.m. New York City time on December 29, 2025 (12:30 a.m. Central European Time on December 30, 2025).</footnote>
        <footnote id="F4">(Continued from footnote 3) As a result of the Back-End Merger and the Back-End Cancellation, each Common Share held by shareholders of the Issuer (other than Purchaser) as of immediately prior to the Back-End Merger (each, a &quot;Minority Shareholder,&quot; and collectively, the &quot;Minority Shareholders&quot;) was cancelled through the Back-End Merger and the Back-End Cancellation and converted into the right to receive an amount in cash equal to the product of (a) $97.00 and (b) the number of Common Shares held by such Minority Shareholder immediately prior to the Back-End Merger (the &quot;Back-End Cancellation Consideration&quot;), less any applicable withholding taxes, including any Dutch dividend withholding tax (dividendbelasting) due in respect of the Back-End Cancellation Consideration.  No Common Shares of the Issuer remain outstanding following the Back-End Merger and the Back-End Cancellation.</footnote>
        <footnote id="F5">Pursuant to the Back-End Merger, Purchaser indirectly acquired an additional 1,982,906 Common Shares, which Common Shares were subsequently cancelled and converted into the right to receive cash pursuant to the Back-End Cancellation. Parent, as the parent entity of Purchaser, beneficially owned the Common Shares held directly by Purchaser.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jan G. J. van de Winkel, President and Chief Executive Officer, Genmab A/S</signatureName>
        <signatureDate>2025-12-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Anthony Pagano, Executive Vice President &amp; Chief Financial Officer, Genmab A/S</signatureName>
        <signatureDate>2025-12-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
