SAP Expects Stock Options to be Exercised on February 1 And Plans to Buy-Back Shares
WALLDORF, Germany - February 1, 2010 - SAP AG (NYSE: SAP) today announced that it expects stock options to be exercised on February 1, 2010, which is the last day that stock options granted in 2005 from the Company's 2002 Stock Option Plan (SOP) can be exercised. As a result, up to a total of approximately 6.6 million SAP shares will be received and sold into the market by the participants of the plan immediately on the same day, only if the SAP share price is equal to or higher than the stock options' exercise price of EUR33.66. SAP will primarily use treasury shares to service the SOP subscription rights.
Today, the SAP Executive Board has decided to buy back up to 6.6 million shares from the open market today in order to replenish the treasury stock that was used to service the exercised options.
The Company was granted approval to buy back shares at the Annual General Meeting (AGM) on May 19, 2009, which authorized the Board to buy back up to 120 million SAP shares on or before October 31, 2010. The precise number and timing of any purchases of treasury shares is subject to change, depending on market conditions.