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Managers' Transactions

Notifications concerning transactions by persons purs. to Art. 19 of the Market Abuse Regulation

Article 19 of the Market Abuse Regulation (“MAR”), sets out statutory regulations with regard to managers’ transactions of persons discharging managerial responsibilities at an issuer of financial instruments as well as of persons closely associated with them.

Closely associated persons are the spouse, registered partner, dependent children and any other relatives with whom the person discharging managerial responsibilities has lived in the same household for at least one year at the time of conclusion of the respective transaction, and under certain conditions legal persons, trusts or partnerships.

Under MAR, the persons concerned are obligated to notify the respective transaction upon conclusion to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, “BaFin”) and the respective issuer.

Transactions must be notified once they exceed the threshold of EUR 20,000.00 in a calendar year. It is not required that earlier transactions which were initially beneath the threshold be notified subsequently.

The template, the use of which is mandatory for all notifications, requires, i.a., that the following data be published:

  • Details of the persons discharging managerial responsibilities/persons closely associated with them
  • Reason for the notification
  • Details of the issuer
  • Details of the transaction (price, nature/volume)


Listed below are transactions for the financial years 2013 through today with shares of

adidas AG / ISIN DE000A1EWWW0: