WALLDORF, Germany, Jan. 13, 2022 /PRNewswire/ -- SAP (NYSE: SAP) today announced a new share repurchase program. The program, with a volume of up to €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 SAP 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 ′Move SAP′ share-based compensation plan.
′Move SAP′ is SAP's 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 SAP's 2018 – 2020 share-based compensation expenses. Under its previous policy, SAP serviced obligations arising from the plan with cash payments but has now decided to settle future awards predominantly in shares.
Obligations from outstanding ′Move SAP′ awards will continue to be serviced with cash payments and the settlement methods of SAP's other share-based compensation programs remain unchanged.
SAP CFO Luka Mucic said: "By 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 employees' interests are closely aligned with those of our shareholders."
The new share repurchase program follows SAP's 2020 repurchase of around 14 million shares for about €1.5 billion.
More information on the ′Move SAP′ plan can be found in section B.3 (Share-Based Payments) of SAP's 2020 Integrated Report.
About SAP
SAP's 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: SAP customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP 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 – 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, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com.
Follow SAP Investor Relations on Twitter at @sapinvestor.
This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP's 2020 Annual Report on Form 20-F.
© 2022 SAP SE. All rights reserved.
No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP SE. The information contained herein may be changed without prior notice.
Some software products marketed by SAP SE and its distributors contain proprietary software components of other software vendors. National product specifications may vary.
These materials are provided by SAP SE and its affiliated companies ("SAP Group") for informational purposes only, without representation or warranty of any kind, and SAP Group shall not be liable for errors or omissions with respect to the materials. The only warranties for SAP Group products and services are those that are set forth in the express warranty statements accompanying such products and services, if any. Nothing herein should be construed as constituting an additional warranty.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) in Germany and other countries. All other product and service names mentioned are the trademarks of their respective companies. Please see www.sap.com/about/legal/copyright.html for additional trademark information and notice.
SOURCE SAP SE
![](https://rt.prnewswire.com/rt.gif?NewsItemId=CL31091&Transmission_Id=202201131730PR_NEWS_USPR_____CL31091&DateId=20220113)
Share this article