Directors' Dealings
In accordance with Section 15a of the German Securities Trading Law ("Wertpapierhandelsgesetz") the Management (members of the Managing and the Supervisory Boards, Managing Directors and Directors) of listed German companies are obliged to disclose any acquisitions or sales of company shares or rights associated with theses shares (Directors' Dealings).
These disclosures must be reported to the German Financial Services Supervisory Office ("Bundesanstalt für Finanzdienstleistungsaufsicht"). This disclosure obligation also applies to certain individuals associated with the board members in question (e.g. spouses, children, parents).
