Philips Extends Settlement of Forward Contracts for Long-Term Incentive Plans

Philips intends to extend the maturity of forward purchases for 4 million shares under long-term incentive plans by one year to Q4 2026. The original maturity dates were set for Q4 2025. Further details are available on the company's website. This move is part of Philips' share repurchase program announced on June 14, 2023.

Amsterdam, Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA) has announced its intention to extend the settlement of two forward contracts related to its long-term incentive plans share program. The extension involves 4 million shares (2 million shares each) and will push the original maturity dates from Q4 2025 to Q4 2026 Philips intends to extend maturity of forward purchases of 4 million shares for long-term incentive plans^[1].

These forward contracts are part of the company's share repurchase program that was previously announced on June 14, 2023. The planned extension will postpone the original maturity dates in Q4 2025 by one year to a new maturity date in Q4 2026 Philips intends to extend maturity of forward purchases of 4 ...^[2].

The decision to extend the maturity dates is part of Philips' ongoing strategy to manage its share repurchase program effectively. The company aims to ensure that its share repurchase activities align with its financial and operational objectives.

For further information, interested parties can contact Michael Fuchs at Philips Global External Relations (+31 6 1486 9261, michael.fuchs@philips.com) or Dorin Danu at Philips Investor Relations (+31 20 59 77055, dorin.danu@philips.com).