Allgeier SE: Explanation on the exercise of stock options

Allgeier SE: Explanation on the exercise of stock options

07/23/2018

Munich, 23 July 2018 - In response to inquiries, the Executive Board of Allgeier SE provides the following explanation on the exercise of stock options:

Individual members of the Executive Board of Allgeier SE have a long-term component in the form of stock options as part of their remuneration. In 2012, a total of 380,000 option rights were issued from the 2010 Stock Option Plan to persons who are currently members of the Allgeier SE Executive Board. A further 140,000 option rights from the 2014 stock option plan followed in 2017, for which the waiting period has not yet expired. Each option right has a term of 10 years and can only be exercised after a waiting period of 4 years. Exercise is only possible within 14-day exercise windows after the publication of an annual or semi-annual report and after the publication of a quarterly announcement and the Annual General Meeting. In addition, the exercise is subject to an annual restriction so that the option rights can only be exercised over a period of several years. When option rights are exercised, the exercise price must be paid to Allgeier SE. The resulting exercise gain is subject to personal income tax. In order to finance the exercise price and tax payments, it is necessary in individual cases that part of the newly created shares are sold directly in the course of the exercise. This is ordered in course of the exercise. However, the execution of the sales may be delayed by some days and may take place in partial executions due to a delayed booking of the new shares in the securities account and due to the market's capacity to absorb new shares in daily trading.

In the current year 2018, two members of the Executive Board, Mr. Carl Georg Dürschmidt and Dr. Marcus Goedsche, have each exercised 36,000 option rights to date. Mr. Carl Georg Dürschmidt has not sold any of the new shares. With the last exercise of 21,000 option rights on July 10, 2018, Dr. Marcus Goedsche simultaneously ordered the sale of part of the new shares (17,000 shares). The sale was then effected after July 10, 2018 by the mandated bank without the influence of the Executive Board member. In total, Mr. Carl Georg Dürschmidt has acquired a total of 36,000 new shares and Dr. Marcus Goedsche has acquired a total of 19,000 shares after deduction of the shares sold in 2018 and continue to hold these. The corresponding Directors' Dealings notifications have been made in due time. The members of the Executive Board currently still hold 308,000 option rights from the 2010 stock option plan and 140,000 option rights from the 2014 stock option plan. This means that further options will be exercised regularly in the future.

Executive Board of Allgeier SE