Article 19 EU Market Abuse Regulation (Directors' Dealings)
According to Regulation (EU) No 596/2014 of the European Parliament and of the Council (Market Abuse Regulation), the members of the executive board and supervisory board as well as all other persons discharging managerial responsibilities (senior executives) in companies that issue securities have to notify both the company and the German Federal Financial Supervisory Authority (BaFin) if they acquire or dispose of shares in the company, debt instruments of the company or derivatives and other financial instruments linked to the shares or debt instruments of the company. Certain natural persons who are closely related to board members or senior executives, such as spouses and dependent children, are under the same obligation. Furthermore, legal persons, such as companies and organizations acting in a fiduciary capacity for which board members, senior executives, or persons closely related to them discharge managerial responsibilities, that are directly or indirectly controlled by such persons or the economic interest of which are substantially equivalent to those of such a person are also obliged to give notification.
On this Web site, SAP publishes all notifications received from its board members and other persons with a notification obligation.