WALLDORF β ΒιΆΉΤ΄΄ today announced a new share repurchase program. The program, with a volume of up to β¬1 billion, is planned to be executed in the period between February 01 and December 31, 2022. It will be implemented based on the authorization granted by the Annual General Meeting of ΒιΆΉΤ΄΄ SE on May 17, 2018, and in compliance with the restrictions set forth therein.
Repurchased shares will primarily be used to service future awards granted under the β²Move ΒιΆΉΤ΄΄β² share-based compensation plan.
βMove ΒιΆΉΤ΄΄β is ΒιΆΉΤ΄΄βs long-term employee incentivization and retention plan. It is aimed at rewarding employees who provide a significant impact to business success. The plan accounted for the majority of ΒιΆΉΤ΄΄βs 2018 β 2020 share-based compensation expenses. Under its previous policy, ΒιΆΉΤ΄΄ serviced obligations arising from the plan with cash payments but has now decided to settle future awards predominantly in shares.
Obligations from outstanding β²Move ΒιΆΉΤ΄΄β² awards will continue to be serviced with cash payments and the settlement methods of ΒιΆΉΤ΄΄βs other share-based compensation programs remain unchanged.
ΒιΆΉΤ΄΄ CFO Luka Mucic said: βBy settling our share-based compensation predominantly in shares rather than cash payments for new awards issued from 2022 onwards, we intend to further strengthen our employee ownership culture and ensure employeesβ interests are closely aligned with those of our shareholders.β
The new share repurchase program follows ΒιΆΉΤ΄΄βs 2020 repurchase of around 14 million shares for about β¬1.5 billion.
More information on the β²Move ΒιΆΉΤ΄΄β² plan can be found in section B.3 (Share-Based Payments) of ΒιΆΉΤ΄΄βs 2020 Integrated Report.
About ΒιΆΉΤ΄΄
ΒιΆΉΤ΄΄βs strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: ΒιΆΉΤ΄΄ customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customersβ businesses into intelligent enterprises. ΒιΆΉΤ΄΄ helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want β without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, ΒιΆΉΤ΄΄ helps the world run better and improve peopleβs lives. For more information, visit .
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