v3.26.1
Share-Based Payments (Tables)
 12 Months Ended
Dec. 31, 2025
Share-based Payment Arrangements [Abstract]  
Summary of Expense Recognized for Employee Services Received During the years ended December 31, 2025, 2024, and 2023, our share-based payment arrangements led to the
following expenses:
Years ended
December 31,
(in millions €)
Note
2025
2024
2023
Expense arising from equity-settled share-based
payment arrangements
89.0
74.9
44.1
BioNTech 2020 and 2024 Restricted Stock Unit Plans for
Non-North American Employees
16.1.1
72.3
58.3
36.3
InstaDeep Employee Incentive Plan(1)
16.1.1
4.9
11.4
3.4
Employee Stock Ownership Plan
16.1.1
—
—
—
Management Board Grant
16.1.2
0.9
5.2
3.2
Chief Executive Officer Grant
—
—
1.2
Biotheus Founder SBP Program
16.1.3
10.9
—
—
Expense / (Income) arising from cash-settled share-
based payment arrangements
17.3
26.0
7.3
BioNTech 2020 and 2024 Restricted Stock Unit Plans for
North American Employees(2)
16.2.1
22.7
23.3
10.6
Employee Stock Ownership Plan
16.2.1
(1.2)
0.1
(0.9)
Management Board Grant
16.2.2
(4.2)
2.6
(2.4)
Total
106.3
100.9
51.4
Cost of sales
7.3
9.0
6.5
Research and development expenses
75.1
63.5
33.4
Sales and marketing expenses
3.6
2.5
1.0
General and administrative expenses
20.3
25.9
10.5
Total
106.3
100.9
51.4
(1)The first tranche of 40,249 RSUs vested in July 2024 and was settled in the three months ended September 30, 2024, in cash.
(2)In the fiscal year 2025 the BioNTech 2024 Restricted Stock Unit Plan for North America Employees was modified and is now settled only in cash.
For more details regarding the modification please see note 16.2.1. The expenses relating to the fiscal years 2025 and 2024 also contain the
expenses from the former as equity settled classified 2024 Restricted Stock Unit Plan for North American Employees.
Summary of Number and Share Price of Restricted Stock Units
LTI 2020
program
LTI 2021
program
LTI 2022
program
LTI 2023
program
LTI 2024
program - RSUs
LTI 2024
program -
PRSUs
As of January 1, 2024
230,905
101,111
379,969
—
—
—
Granted
—
—
—
834,211
—
—
Forfeited / Modified
(4,541)
(2,332)
(12,507)
(62,902)
—
—
Settled
(225,201)
—
—
—
—
—
As of December 31, 2024
1,163
98,779
367,462
771,309
—
—
As of January 1, 2025
1,163
98,779
367,462
771,309
—
—
Granted / Allocated
—
—
—
—
977,498
21,878
Settled
(1,163)(3)
(96,068)(1)
—
—
(219,984)(2)
(2,521)(2)
Forfeited / Modified
—
(2,711)
(14,292)
(49,235)
(79,740)
(3,611)
As of December 31, 2025
—
—
353,170
722,074
677,774
15,746
thereof vested
—
—
270,428
371,401
—
—
thereof unvested
—
—
82,742
350,673
677,774
15,746
(1)The closing price of an American Depositary Share of BioNTech on Nasdaq on December 10, 2025, 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 
€82.29.
(2)The closing price of an American Depositary Share of BioNTech on Nasdaq on December 5, 2025, 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
€82.65.
(3)The closing prices of an American Depositary Share of BioNTech on Nasdaq on April 3 and June 3, 2025, the last trading days before the
settlement dates, converted from USD to Euro using the exchange rates published by the German Central Bank (Deutsche Bundesbank) on the
same days were €82.91 and €101.56.
ESOP Award
RSU Award
As of January 1, 2024
406,353
160,997
Granted / Allocated
—
—
Settled
—
(40,249)(1)
As of December 31, 2024
406,353
120,748
As of January 1, 2025
406,353
120,748
Forfeited
—
(5,182)
Settled
—
(36,874)
As of December 31, 2025
406,353
78,692
(1)The first tranche of 40,249 RSUs vested in July 2024 and was settled in the three months ended September 30, 2024, in cash.
RSU
PRSU
As of January 1, 2024
—
—
Granted May  15, 2024
356,757
34,481
Granted December 12, 2024
47,115
Forfeited
(24,284)
(2,915)
As of December 31, 2024
379,588
31,566
As of January 1, 2025
379,588
31,566
Granted May 14, 2025
330,774
32,160
Granted November 13, 2025
27,743
Forfeited
(67,430)
(5,465)
Settled
(91,828)
(7,644)
As of December 31, 2025
578,847
50,617
thereof vested
—
—
thereof unvested
578,847
50,617
Summary of Inputs Used in Measurement of Fair Value at Grant Date
LTI 2020
program
LTI 2021
program
LTI 2022
program
LTI 2023
program
LTI 2024
program - RSUs
LTI 2024
program -
PRSUs
Grant dates of the awards
December 2020
January 2022
December 2022
January 2024
January 2025
January 2025
Vesting
25% p.a.
25% p.a.
25% p.a.
25% p.a.
25% p.a.
25% p.a.
Weighted average fair
value
€92.21
€203.22
€165.03
€97.99
€116.54
€101.84
Waiting period (in years)
4.0
4.0
4.0
4.0
—
—
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 date
February 20, 2019
Weighted average fair value
€7.41
€6.93
Weighted average share price
€14.40
€15.72
Exercise price
€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%
The parameters used for measuring the fair values as
of the respective 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
Allocation
date May
2025 ESOP
Allocation
date May
2025 PSU
Weighted average fair
value
€10.83
€25.65
€21.60
€29.27
€45.73
€33.49
€46.15
€46.01
Weighted average share
price
€28.20
€158.41
€168.77
€139.03
€98.93
€74.48
€83.00
€83.87
Exercise price(2)
€28.32
€157.64
€159.00
€129.45
€96.97
€75.91
€93.35
n/a
Expected volatility
36.6%
58.7%
58.7%
64.5%
47.2%
48.9%
66.4%
57.7%
Expected life (years)
4.7
4.6
4.6
5.8
5.8
5.8
5.8
5.8
Risk-free interest rate
1.6%
3.8%
3.8%
3.9%
3.7%
3.8%
4.5%
4.5%
(1)Classified as cash-settled share-based payment arrangement; all other share-based payment arrangements are classified as equity-settled.
(2)All share options are subject to an effective exercise price cap.
Summary of Number and Weighted-Average Exercise Price of Share Options Below is an overview of changes to share options outstanding that occurred during the periods indicated:
Share options
outstanding
Weighted average
exercise price (€)
As of January 1, 2024
320,393
11.24
Exercised(1)
(139,053)
10.14
As of December 31, 2024
181,340
12.08
As of January 1, 2025
181,340
12.08
Exercised(1)
(50,936)
10.14
As of December 31, 2025
130,404
12.84
thereof vested
130,404
12.84
(1)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 €91.64 and €83.45 for all settlements during the years ended December 31, 2025 and 2024, respectively.
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
Allocation
date May
2025 ESOP
Allocation
date May
2025 PSU
(Phantom) share
options outstanding as
of January 1, 2024
248,096
43,501
6,463
86,118
130,586
—
—
—
Forfeited
—
—
—
(7,332)
(13,812)
(12,729)
—
—
Granted / Allocated
—
—
—
—
—
193,257
—
—
Exercised(2)
(209,128)
—
—
—
—
—
—
—
(Phantom) share
options outstanding as
of December 31, 2024
38,968
43,501
6,463
78,786
116,774
180,528
—
—
(Phantom) share
options outstanding as
of January 1, 2025
38,968
43,501
6,463
78,786
116,774
180,528
—
—
Granted / Allocated
—
—
—
—
—
79,255
63,405
Exercised
—
—
—
—
—
—
—
Forfeited
—
—
—
(5,533)
(18,416)
(38,188)
(11,047)
(8,838)
(Phantom) share
options outstanding as
of December 31, 2025
38,968
43,501
6,463
73,253
98,358
142,340
68,208
54,567
thereof allocated and
vested but subject to
performance and / or
waiting requirements
38,968
43,501
6,463
60,922
60,689
45,133
—
—
thereof allocated and
unvested
—
—
—
12,331
37,669
97,207
68,208
54,567
(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.