Directors' Dealings

Directors' Dealings

The German Securities Trading Act (Section 15a WpHG) requires the members of the board of management and supervisory board and other executives who are authorized to make material entrepreneurial decisions on the part of the issuer and have regular access to inside information to immediately notify the issuer and Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin German financial supervisory authority) of transactions in shares of the company or financial instruments based on them within five working days. This obligation also extends to other persons who are closely associated with such individual. The company is obliged to immediately publish an announcement that such a transaction subject to notification has taken place.
The requirement for notification is waived for as long as the total volume of transactions undertaken by any individual entrusted with executive power and the person closely associated with that individual is less or equal to 5,000 euros within a calendar year.

Additional information is available on the website of Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin German financial supervisory authority):


Disclosure of transactions by leading persons pursuant to Section 15a of the German Stock Corporation Law (WpHG):

Year 2017

11/14/2017Prof. Dr. Klaus SteffensPDF
10/27/2017Prof. Dr. Klaus SteffensPDF
06/09/2017Thomas DautlPDF
05/09/2017Thomas DautlPDF
05/09/2017Dr. Rainer MartensPDF
05/09/2017Michael SchreyöggPDF
05/09/2017Reiner WinklerPDF
02/07/2017Dr. Rainer MartensPDF