Employee stock program
LANXESS's stock program offers employees in Germany an opportunity to buy shares in the company at a discount. The price per share is calculated from the stock market price less a discount of 30 percent. This discount is financed by LANXESS.
From 18 to 21 June 2018 the total number of repurchased shares, the weighted average price and the aggregated volume, each set out on a daily basis, amounted to:
|Date||Total number of repurchased shares (number)||Weighted average price (EUR)||Aggregated volume (EUR)|
|18 Jun 2018||15,500||71.0576||1,101,392.80|
|19 Jun 2018||15,500||70.0762||1,086,181.10|
|20 Jun 2018||15,500||70.7759||1,097,026.45|
|21 Jun 2018||33,223||69.0899||2,295,373.75|
Stock Plan for managerial staff
LANXESS employs a fair remuneration policy that is linked to the long-term success of the company and offers employees worldwide a transparent and market-oriented compensation system.
LANXESS offers a long-term incentive program for managers in Germany and a similar program in the United States, Canada, India and China.
Long Term Incentive Plan (LTIP)/ Long Term Peformance Plan (LTSP)
LANXESS's Long Term Incentive Program started in 2005. It comprises three tranches, starting in the years 2005 - 2007. Participation in the LTIP is conditional upon each manager making a personal investment in LANXESS stock, depending on his/her base salary. Each manager's personal investment is subject to a five-year lock-up period. In each tranche of the LTIP the participants automatically receive (share-based/ non share-based) rights.
Whereas the first program comprised a share-based component (Stock Performance Plan 2005-2007) and a non-share-based component (Economic Value Plan), the subsequent programs are entirely share-based (Stock Performance Plan 2008-2010 and Stock Performance Plan 2010-2013).
The stock performance plan compares the company’s value against the Dow Jones STOXX 600 ChemicalsSM Index over a period of three years. Since participants make a personal investment and there is the chance that the stock will increase in value, the program is an attractive long-term incentive and a means of boosting employee loyalty.
For the period 2010 to 2013, the Board of Management has drawn up a new long-term incentive plan (LTIP) for LANXESS. The Long-Term Stock Performance Plan 2010-2013 (LTSP) comprises four tranches, one commencing each year. This plan also compares the company’s value against the Dow Jones STOXX 600 ChemicalsSM Index, but over a period of four years. Participation in the LTSP is also conditional upon each manager making a personal investment in LANXESS stock, depending on his/her base salary.