On March 31, 2022 BioNTech SE (Nasdaq: BNTX, "BioNTech" or the "Company") reported that it has entered into a share repurchase program (the "Program"), pursuant to which the Company may purchase American depositary shares (ADSs) in the amount of up to $1.5 billion over the next two years (Press release, BioNTech, MAR 31, 2022, View Source [SID1234611302]). BioNTech expects to use all or a portion of the ADSs to satisfy upcoming settlement obligations under the Company’s share-based payment arrangements.

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"We would like our shareholders to participate in our strong 2021 performance through a repurchase program of BioNTech shares. This is in line with our capital allocation strategy and our aim to continue to drive shareholder value," said Jens Holstein, CFO of BioNTech.

The timing and total amount of ADS repurchases will depend upon market conditions and may be made in open market purchases from time to time.

The Program has been designed to operate within the safe harbor provided by Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the affirmative defense provided by Rule 10b5-1 of the Exchange Act.