To cover outstanding obligations resulting from its long-term incentive performance share plan and other employee share plans, Philips Lighting repurchases Philips Lighting shares on Euronext Amsterdam from time to time. The shares repurchased to cover such equity-based incentive positions will be held by Philips Lighting as treasury shares until these are distributed to participants.
On May 22, 2017, Philips Lighting announced the start of a share repurchase program for covering equity-based incentive plans. This program will be executed by an intermediary to allow for share buybacks in the open market during both open and closed periods. The program will be executed within the limits of relevant laws and regulations and the authority granted by the Annual General Meeting of Shareholders on May 9, 2017.
Philips Lighting will update the market on the progress of the share buyback program in weekly press releases. All transactions will be published here on a weekly basis.