Aegon Unveils EUR 35 Million Share Repurchase Initiative to Fulfill Senior Management Compensation Obligations

Aegon Unveils EUR 35 Million Share Repurchase Initiative to Fulfill Senior Management Compensation Obligations

(IN BRIEF) Aegon has announced a plan to repurchase common shares worth EUR 35 million to fulfill obligations related to share-based compensation plans for senior management. The repurchased shares will be held as treasury shares until allocated to plan participants. The repurchase program will start on April 9, 2024, and is expected to be completed by June 30, 2024. A third party will execute the transactions. This initiative will be integrated with an ongoing EUR 1.5 billion share buyback program, with progress reported based on a combined notional of EUR 1.535 billion. Weekly updates on transactions will be provided on aegon.com.

(PRESS RELEASE) THE HAGUE, 9-Apr-2024 — /EuropaWire/ — Aegon N.V. (AMS: AGN), Dutch multinational life insurance, pensions and asset management company, announces its strategic decision to repurchase common shares totaling EUR 35 million to fulfill obligations stemming from its senior management’s share-based compensation plans. The shares repurchased will be held as treasury shares until they are allocated to the designated plan participants.

The share repurchase program is scheduled to commence on April 9, 2024, and is anticipated to conclude on or before June 30, 2024. Aegon will enlist the services of a third-party entity to execute the transaction on its behalf, ensuring smooth and efficient operations. The repurchase will adhere to a maximum price set at the average of the daily volume-weighted average prices throughout the repurchase period.

This initiative will be seamlessly integrated with Aegon’s ongoing EUR 1.5 billion share buyback program, initially announced on July 6, 2023. As of April 5, 2024, this program has reached 85% completion. Consequently, the progress of the existing share buyback will be reported based on the combined notional value of EUR 1.535 billion, encompassing both initiatives.

To maintain transparency and provide stakeholders with timely updates, Aegon commits to delivering weekly updates regarding these transactions. Interested parties can access these updates via the company’s official website, aegon.com.

Contacts

Media relations
Richard Mackillican
+31(0) 62 741 1546
richard.mackillican@aegon.com

Investor relations
Yves Cormier
+31(0) 70 344 8028
yves.cormier@aegon.com

About Aegon
Aegon is an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Its portfolio of businesses includes fully owned subsidiaries in the US, UK, and a global asset manager. In addition, Aegon has partnerships in Spain & Portugal, Brazil, and China, which create value by combining strong local partners with Aegon’s international expertise. In the Netherlands, Aegon generates value via a strategic shareholding in a market leading insurance and pensions company.

Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com.

SOURCE: Aegon