Expert Corporate Governance Service (ECGS)
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Etude de l'AG du 27/04/2017

In general, UCB is in compliance with the Belgian regulations relating to the organization and procedures of the Annual General Meeting.

Under ITEM 5, the Board of Directors seeks approval for the Company's remuneration report. Since we do not approve of LT incentive plans that do not operate one or more challenging performance conditions, we recommend opposition.

Under ITEM 8.2a, the Nomination Committee proposes to re-elect Mr. Albrecht de Graeve. As we have concerns over his aggregate time commitments, we recommend opposition.

Finally, under ITEM 9.1, the Board of Directors seeks authority to allocate shares under the LT incentive plans. Although we welcome the submission to shareholders to shareholders' vote, we do not approve of LT incentive plans that do not operate one or more challenging performance conditions (see also above). We therefore recommend opposition.


UCB is a global biopharmaceutical company focused on severe diseases in two therapeutic areas, namely central nervous system disorders and immunology. In the area of central nervous system disorders, Co. is focused on advanced Parkinson's disease, epilepsy, restless legs syndrome and epilepsy. In the area of immunology disorders, Co. is focused on rheumatoid arthritis, axial spondyloarthritis, psoriatic arthritis, systemic lupus erythematosus, juvenile idiopathic arthritis, post-menopausal osteoporosis, systemic lupus erythematosus and immunological diseases.


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