ING rebalances hedge portfolio for employee options
ING Groep N.V. has sold 5,230,000 (depositary receipts for) ordinary
shares for its delta hedge portfolio, which is used to hedge employee
options. The shares were sold on the open market between 2 June and 5
June at an average price of EUR 7.80 per share.
ING does not issue new shares to cover employee options. Instead,
employees receive shares
from the delta hedge portfolio, which is maintained to minimise the
market risks and price
fluctuations that arise from the employee option programmes. The
hedge position is adjusted periodically, generally on a quarterly
basis, in accordance with regulatory requirements and
ING's policies to prevent market manipulation.
The hedge book currently holds 35.8 million (depositary receipts for)
ordinary ING shares, representing 1.7 % of the 2,063 million shares
outstanding.
Press enquiries
Carolien van der Giessen
ING Group
+31 20 5416522
carolien.van.der.giessen@ing.com
ING Profile
ING is a global financial institution of Dutch origin offering
banking, investments, life insurance and retirement services to over
85 million private, corporate and institutional clients in more than
40 countries. With a diverse workforce of about 125,000 people, ING
is dedicated to setting the standard in helping our clients manage
their financial future.
Important legal information
Certain of the statements contained herein are statements of future
expectations and other forward-looking statements. These expectations
are based on management's current views and assumptions and involve
known and unknown risks and uncertainties. Actual results,
performance or events may differ materially from those in such
statements due to, among other things, (i) general economic
conditions, in particular economic conditions in ING's core markets,
(ii) performance of financial markets, including emerging markets,
(iii) the frequency and severity of insured loss events, (iv)
mortality and morbidity levels and trends, (v) persistency levels,
(vi) interest rate levels, (vii) currency exchange rates (viii)
general competitive factors, (ix) changes in laws and regulations,
(x) changes in the policies of governments and/or regulatory
authorities, (XI) conclusions with regard to purchase accounting
assumptions and methodologies, (XII) ING's ability to achieve
projected operational synergies. ING assumes no obligation to update
any forward-looking information contained in this document.
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