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Management Transactions

The disclosure of management transactions promotes the provision of information to investors and contributes to the prevention and prosecution of market abuse.

The provisions regarding the disclosure of management transactions impose on issuers to report transactions concluded by members of their board of directors and executive committee in the given company's equity securities, convertible and purchase rights on the company's shares, and financial instruments whose price is materially dependent on the company's own equity securities.

Members of the board of directors and executive committee must report to their issuing company all transactions that fall within the scope of these regulations within two trading days.

The issuer must submit SIX Exchange Regulation within three further trading days a report that discloses, among other things, the name and function of the individual (i.e. executive member of the board of directors, member of the executive committee, or non-executive member of the board). SIX Exchange Regulation will then publish the report on its Website without the individual's name, however with an indication of the given individual's function.

Legal Basis

Description Online Version Download
Art. 56 Listing Rules
Directive on the Disclosure of Management Transactions
Directive on Electronic Reporting and Publication Platforms
Commentary re Art. 56 of the Listing Rules and the Directive on the Disclosure of Management Transactions (Commentary MT)  

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Reporting Form

The following form can be used by a person who is subject to the disclosure obligation to report trades to the issuer. However, its use is not mandatory. The form may not be used by the issuer to submit reports to SIX Exchange Regulation. The issuer must submit its report to SIX Exchange Regulation using the Web-based reporting platform only. On the other hand, the Web-based reporting platform is not available to a person who is subject to the disclosure obligation for the submission of his own reports to the issuer.

Description Download
Reporting Form