DGAP-News q.beyond executives acquire 1 million shares
DGAP-News: q.beyond AG / Key word(s): Miscellaneous
q.beyond executives acquire 1 million shares
- Share plan aligns interests of shareholders and executives
- Plan only kicks in if share price more than doubles by end of 2022
- Second plan to promote share purchases by all employees from early 2021
Cologne, 15 October 2020 - By launching two bespoke share plans, q.beyond is underlining its capital market orientation and adopting a new approach enabling all employees to participate in its performance. The IT service provider, which resulted from a rebranding of QSC AG in mid-September, is currently implementing a share plan for its executives. This will be followed in the first quarter of 2021 by a share plan for the whole workforce.
Clear commitment: Executives invest their own cash
The company's executives acquired a total of 1 million shares via the stock exchange in the period between 1 September and 9 October 2020. Top executives purchased 500,000 shares, while second-tier managers acquired the same volume of shares in q.beyond. This voluntary purchase of shares on their own account entitles the managers to participate in the new share matching plan. Explains company CEO Jürgen Hermann: "This share plan will supplement our existing remuneration policy. One key aspect of this is to align our business policies even more closely to the interests of our shareholders." Achieving long-term growth targets and sustainably increasing the company's value were crucial for the whole company. "Our managers are absolutely convinced by our new alignment. Like me, they are therefore prepared to invest substantial sums of their own money in q.beyond shares." Jürgen Hermann recently raised his own shareholding by 50% to 1 million shares by acquiring shares via the stock exchange in spring 2020.