Telefónica delivers 1.6 million shares to its employees in the second half of the year

The main executives of the company adhere to the program.

Telefónica delivers 1.6 million shares to its employees in the second half of the year

The main executives of the company adhere to the program

MADRID, 18 Dic. (EUROPA PRESS) -

Telefónica has transferred 1.6 million shares to its staff in the second half of the year within the framework of the incentivized share purchase plan for employees that it approved at its last shareholders' meeting.

The company has carried out five operations to transfer shares to its staff from its treasury stock between July and December for a combined value of 5.6 million euros, according to the records of the National Securities Market Commission consulted by Europa Press.

Specifically, Telefónica has made these transmissions to employees on five dates: July 4, September 6, October 5 and 12, and November 14.

Additionally, the employees holding the shares will have received a total of just over 245,000 euros through the dividend that the company distributed last Thursday.

Telefónica has declined to reveal how many employees have taken advantage of the program to date. Employees can buy up to 1,800 euros in company titles, which limits the titles that could be part of the program to 0.38% of its capital (almost 22 million shares).

Those employees who have decided to participate can contribute between 25 euros and 125 euros for twelve months, according to the records of those who have notified their share purchases through this program. Subsequently, Telefónica will give them an equivalent number of shares on the occasion of the centenary of the firm, which will be celebrated in 2024.

Among those who have accepted the program are six members of the executive committee who are required to notify their purchases of shares to the CNMV and who have reported purchases for the maximum value allowed by the program.

These are the cases of the executive president, José María Álvarez-Pallete; the CEO, Ángel Vilá; Strategy Director Mark Evans; the Finance Director and President of Hispam, Laura Abasolo; the Director of Corporate Affairs and Sustainability, Eduardo Navarro, and the Secretary General and Secretary of the Board and Global Director of Regulation, Pablo Antonio de Carvajal.

With a view to future sales to employees, the operator has, according to its latest public data, 82.26 million treasury shares, which is equivalent to 1.42% of Telefónica's capital.

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