v3.25.0.1
Share-Based Payments (Tables)
 12 Months Ended
Dec. 31, 2024
Share-based Payment Arrangements [Abstract]  
Summary of Expense Recognized for Employee Services Received During the years ended December 31, 2024, 2023, and 2022, our share-based payment arrangements led to the
following expenses:
Years ended
December 31,
(in millions €)
Note
2024
2023
2022
Expense arising from equity-settled share-based
payment arrangements
85.0
44.1
46.5
Employee Stock Ownership Plan
16.5
—
—
13.8
Chief Executive Officer Grant
16.4
—
1.2
3.1
Management Board Grant(1)
16.3
5.2
3.2
4.3
BioNTech 2020 Employee Equity Plan for
Employees Based Outside North America
16.1
58.3
36.3
25.3
InstaDeep Employee Incentive Plan(2)
16.1, 16.5
11.4
3.4
—
2024 North America Employee Participation Plan
16.1
10.1
—
Expense / (Income) arising from cash-settled
share-based payment arrangements
15.9
7.3
61.5
Employee Stock Ownership Plan
16.5
0.1
(0.9)
53.4
Management Board Grant(1)
16.2, 16.3
2.6
(2.4)
—
BioNTech 2020 Restricted Stock Unit Plan for North
America Employees
16.1
13.2
10.6
8.1
Total
100.9
51.4
108.0
Cost of sales
9.0
6.5
3.0
Research and development expenses
63.5
33.4
84.6
Sales and marketing expenses
2.5
1.0
0.8
General and administrative expenses
25.9
10.5
19.6
Total
100.9
51.4
108.0
(1)In May 2022, phantom options were granted under the Management Board Grant for the year 2022 which led to a
modification from an equity-settled to cash-settled share-based payment arrangement and a reclassification of
€3.3 million between equity and non-current other liabilities, respectively. Expenses incurred before and after the
modification dates have been disclosed as equity-settled or cash-settled share-based payment arrangement,
respectively. The amount includes expenses incurred with respect to a one-time signing bonus granted to Jens Holstein
and Annemarie Hanekamp as of their appointment to the Management Board (see Note 21.2).
(2)The first tranche of 40,249 RSUs vested in July 2024 and was settled in the three months ended December 31, 2024, in
cash.
Summary of Number and Share Price of Restricted Stock Units
LTI 2020 program
LTI 2021 program
LTI 2022 program
LTI 2023 program
As of January 1, 2023
235,305
104,608
396,110
—
Forfeited / Modified
(4,400)
(3,497)
(16,141)
—
As of December 31, 2023
230,905
101,111
379,969
—
As of January 1, 2024
230,905
101,111
379,969
—
Granted / Allocated
—
—
—
834,211
Settled
(225,201)(1)
—
—
—
Forfeited / Modified
(4,541)
(2,332)
(12,507)
(62,902)
As of December 31, 2024
1,163
98,779
367,462
771,309
thereof vested
1,163
75,920
187,812
194,636
thereof unvested
—
22,859
179,650
576,673
(1)The closing price of an American Depositary Share of BioNTech on Nasdaq on December 13, 2024, the last trading day
before the settlement date, converted from USD to Euro using the exchange rate published by the German Central Bank
(Deutsche Bundesbank) on the same day was €114.45.
Summary of Inputs Used in Measurement of Fair Value at Grant Date The parameters used for measuring the fair values as of the
respective (estimated) allocation dates were as follows:
Allocation date
February 2020
Allocation date
May 12, 2021(1)
Allocation date
May 17, 2021(1)
Allocation date
May 2022(1)
Allocation date
May 2023
Allocation date
August 2024
Weighted average
fair value
€10.83
€36.13
€31.61
€42.24
€45.73
€37.88
Weighted average
share price
€28.20
€179.16
€190.87
€157.24
€98.93
€84.23
Exercise price(2)
€28.32
€178.29
€179.83
€146.40
€104.86
€75.91
Expected volatility
36.6%
56.2%
52.3%
53.5%
47.2%
48.9%
Expected life (years)
4.8
4.6
4.6
5.8
5.8
5.8
Risk-free interest
rate
1.6%
4.5%
4.2%
4.5%
3.7%
3.8%
(1)Classified as cash-settled share-based payment arrangement; all other share-based payment arrangements are
classified as equity-settled.
(2)The share options allocated as of February 2020 and May 2023 as well as the phantom share options allocated as of
May 2021 and 2022 are subject to an effective exercise price cap. 
For the awards with estimated allocation dates, the exercise prices of options expected to be allocated have
been derived from the Monte-Carlo simulation model. Those will be adjusted until the actual allocation has
occurred and the exercise price has ultimately been determined.
Estimated allocation
date 2025
Estimated allocation
date 2026
Estimated allocation
date 2027
Estimated allocation
date 2028
Weighted average fair value(1)
€49.89
€45.98
€43.98
34.74
Weighted average share price(1)
€109.68
€109.68
€109.68
€109.68
Exercise price(1)
€112.63
€119.48
€123.00
€130.37
Expected volatility
49.2%
47.8%
47.8%
43.7%
Expected life (years)(1)
5.8
5.8
5.8
5.8
Risk-free interest rate
4.6%
4.7%
4.7%
4.8%
(1)Valuation parameter for estimated allocation dates derived from the Monte-Carlo simulation model.
The inputs used in the measurement of the fair values at the grant date of the ESOP were as follows:
Grant date
November 15, 2018
Grant dates between
February 21 and
April 3, 2019
Weighted average fair value
€7.41
€6.93
Weighted average share price
€14.40
€15.72
Exercise price(1)
€10.14
€15.03
Expected volatility
46.0%
46.0%
Expected life (years)
5.8
6.0
Risk-free interest rate
0.1%
0.1%
(1)With respect to the Management Board members appointed as such at the time the options were granted, the options are
subject to the effective exercise price cap as well as the maximum cap mechanism.
Summary of Number and Weighted-Average Exercise Price of Share Options The share options (including phantom share options) allocated to our Management Board as of the dates
indicated are presented in the table below.
Allocation
date
February
2020
Allocation
date May 12,
2021(1)
Allocation
date May 17,
2021(1)
Allocation
date May
2022(1)
Allocation
date May
2023
Allocation
date August
2024
(Phantom) share options outstanding
as of January 1, 2023
248,096
45,279
6,463
86,118
—
—
Granted / Allocated
—
—
—
—
130,586
—
(Phantom) share options outstanding
as of December 31, 2023
248,096
45,279
6,463
86,118
130,586
—
(Phantom) share options outstanding
as of January 1, 2024
248,096
45,279
6,463
86,118
130,586
—
Granted / Allocated
—
—
—
—
—
193,257
Exercised(2)
(209,128)
—
—
—
—
—
Forfeited / Modified
—
(1,778)
—
(7,332)
(13,812)
(12,729)
(Phantom) share options outstanding
as of December 31, 2024
38,968
43,501
6,463
78,786
116,774
180,528
thereof allocated and vested but
subject to performance and/or waiting
requirements
38,968
30,878
4,848
43,060
32,646
—
thereof allocated and unvested
—
12,623
1,615
35,726
84,128
180,528
(1)Classified as cash-settled share-based payment arrangement; all other share-based payment arrangements are
classified as equity-settled.
(2)The average closing price of an American Depositary Share of BioNTech on Nasdaq weighted over the various dates
immediately preceding the settlement dates, converted from USD to Euro using the exchange rate published by the
German Central Bank (Deutsche Bundesbank) on the same days was €75.00 for all options exercised in 2024.
For the awards with estimated allocation dates, the numbers of options expected to be allocated have been
derived from a Monte-Carlo simulation model. Those will be adjusted until the actual allocation has occurred and
the number of options granted has ultimately been determined.
The share options expected to be allocated to our Management Board as of the dates indicated are presented in
the table below.
Estimated
allocation date
2025(1)
Estimated
allocation date
2026(1)
Estimated
allocation date
2027(1)
Estimated
allocation date
2028(1)
Share options estimated to be allocated
122,211
98,760
26,616
7,533
(1)Valuation parameter derived from the Monte-Carlo simulation model.Set out below is an overview of changes to share options outstanding and number of ordinary shares underlying
these options that occurred during the periods indicated:
Share options
outstanding
Number of ordinary
shares underlying
options
Weighted average
exercise price (€)(1)
As of January 1, 2023
57,584
1,036,514
11.10
Exercised(2)
(39,785)
(716,121)
11.04
As of December 31, 2023
17,799
320,393
11.24
As of January 1, 2024
17,799
320,393
11.24
Exercised(2)
(7,725)
(139,053)
10.14
As of December 31, 2024
10,074
181,340
12.08
thereof vested
10,074
181,340
12.08
thereof unvested
—
—
—
(1)With respect to the Management Board members appointed as such at the time the options were granted, the options are
subject to the effective exercise price cap as well as the maximum cap mechanism.
(2)The average closing price of an American Depositary Share of BioNTech on Nasdaq weighted over the various dates
immediately preceding the settlement dates, converted from USD to Euro using the exchange rate published by the
German Central Bank (Deutsche Bundesbank) on the same days was €83.45 and €96.49 for all settlements during the
years ended December 31, 2024 and 2023, respectively.