Share repurchase program for LTI's and stock purchase plans
On October 22, 2018, Royal Philips announced and started a share repurchase program for an amount of up to EUR 174 million to cover its long-term incentive and employee stock purchase plans, after which it repurchased shares via an intermediary to allow for buybacks in the open market during both open and closed periods. On November 12, 2018, Royal Philips announced to extend this program with the repurchase of an additional up to 10 million shares. To this end, Philips intends to also enter into a number of forward transactions with several financial institutions, to be settled at future dates over the course of the program until 2022. Please see below an overview of the details of all transactions entered into under this program.