SAP SE
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Feb 26, 2026
SAP$233.45-4.1%Stored close · as of Nov 6, 2026
Contents
Share - Based Payment Information Relating to Long - Term Incentives
Members of the Executive Board received, hold, or held Share Units issued to them under the LTI 2024 and hold or held Share Units issued to them under the LTI 2020. For more information about the terms and details of these programs, see the Notes to the Consolidated Financial Statements of the Integrated Report 2025, Note (B.3).
Executive Board Members’ Holdings
| | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · · 1/1/2025 · · During the Year · · 12/31/2025 | ||||||||||||||
| | | | | | | | | | | Exercised (E)/ | | | | Thereof |
| | | | | | | | | | | Adjusted (A)/ | | | | Subject to |
| Quantity in share units | | Specification | | Grant Date | | Outstanding | | Granted | | Forfeited (F) | | Outstanding | | Holding Period |
| | | LTI 2024 – Tranche 2025 – Market PSU | | 5/9/2025 | | 0 | | 6,209 | | 0 | | 6,209 | | 6,209 |
| | | LTI 2024 – Tranche 2025 – Financial PSU | | 5/9/2025 | | 0 | | 10,349 | | 0 | | 10,349 | | 10,349 |
| | | LTI 2024 – Tranche 2025 – ESG PSU | | 5/9/2025 | | 0 | | 4,139 | | 0 | | 4,139 | | 4,139 |
| | | LTI 2024 – Tranche 2024 – Market PSU | | 3/12/2024 | | 8,168 | | 0 | | 0 | | 8,168 | | 8,168 |
| | | LTI 2024 – Tranche 2024 – Financial PSU | | 3/12/2024 | | 13,613 | | 0 | | 0 | | 13,613 | | 13,613 |
| | | LTI 2024 – Tranche 2024 – ESG PSU | | 3/12/2024 | | 5,445 | | 0 | | 0 | | 5,445 | | 5,445 |
| | | LTI 2020 – Tranche 2023 – Market PSU | | 3/24/2023 | | 16,726 | | 0 | | 0 | | 16,726 | | 16,726 |
| | | LTI 2020 – Tranche 2023 – Financial PSU | | 3/24/2023 | | 16,726 | | 0 | | 0 | | 16,726 | | 16,726 |
| Christian Klein (CEO) | | LTI 2020 – Tranche 2023 – RSU | | 3/24/2023 | | 16,726 | | 0 | | 0 | | 16,726 | | 16,726 |
| | | LTI 2020 – Tranche 2022 – Market PSU | | 3/28/2022 | | 17,197 | | 0 | | 8,599 | A | 25,796 | | 25,796 |
| | | LTI 2020 – Tranche 2022 – Financial PSU | | 3/28/2022 | | 17,197 | | 0 | | 952 | A | 18,149 | | 18,149 |
| | | LTI 2020 – Tranche 2022 – RSU | | 3/28/2022 | | 17,197 | | 0 | | 0 | | 17,197 | | 17,197 |
| | | LTI 2020 – Tranche 2021 – Market PSU | | 3/22/2021 | | 25,845 | | 0 | | -25,845 | E | 0 | | 0 |
| | | LTI 2020 – Tranche 2021 – Financial PSU | | 3/22/2021 | | 20,707 | | 0 | | -20,707 | E | 0 | | 0 |
| | | LTI 2020 – Tranche 2021 – RSU | | 3/22/2021 | | 17,230 | | 0 | | -17,230 | E | 0 | | 0 |
| | | LTI 2024 – Tranche 2025 – Market PSU | | 5/9/2025 | | 0 | | 2,467 | | 0 | | 2,467 | | 2,467 |
| Muhammad Alam | | LTI 2024 – Tranche 2025 – Financial PSU | | 5/9/2025 | | 0 | | 4,111 | | 0 | | 4,111 | | 4,111 |
| | | LTI 2024 – Tranche 2025 – ESG PSU | | 5/9/2025 | | 0 | | 1,645 | | 0 | | 1,645 | | 1,645 |
| | | LTI 2024 – Tranche 2024 – Market PSU | | 4/2/2024 | | 3,068 | | 0 | | 0 | | 3,068 | | 3,068 |
| | | LTI 2024 – Tranche 2024 – Financial PSU | | 4/2/2024 | | 5,114 | | 0 | | 0 | | 5,114 | | 5,114 |
| | | LTI 2024 – Tranche 2024 – ESG PSU | | 4/2/2024 | | 2,046 | | 0 | | 0 | | 2,046 | | 2,046 |
| | | LTI 2024 – Tranche 2025 – Market PSU | | 5/9/2025 | | 0 | | 2,467 | | 0 | | 2,467 | | 2,467 |
| Dominik Asam | | LTI 2024 – Tranche 2025 – Financial PSU | | 5/9/2025 | | 0 | | 4,111 | | 0 | | 4,111 | | 4,111 |
| | | LTI 2024 – Tranche 2025 – ESG PSU | | 5/9/2025 | | 0 | | 1,645 | | 0 | | 1,645 | | 1,645 |
| | | LTI 2024 – Tranche 2024 – Market PSU | | 3/12/2024 | | 5,394 | | 0 | | 0 | | 5,394 | | 5,394 |
| | | LTI 2024 – Tranche 2024 – Financial PSU | | 3/12/2024 | | 8,990 | | 0 | | 0 | | 8,990 | | 8,990 |
| | | LTI 2024 – Tranche 2024 – ESG PSU | | 3/12/2024 | | 3,596 | | 0 | | 0 | | 3,596 | | 3,596 |
| | | LTI 2020 – Tranche 2023 – Market PSU | | 3/24/2023 | | 8,073 | | 0 | | 0 | | 8,073 | | 8,073 |
| | | LTI 2020 – Tranche 2023 – Financial PSU | | 3/24/2023 | | 8,073 | | 0 | | 0 | | 8,073 | | 8,073 |
| | | LTI 2020 – Tranche 2023 – RSU | | 3/24/2023 | | 8,073 | | 0 | | 0 | | 8,073 | | 8,073 |
| | | LTI 2024 – Tranche 2025 – Market PSU | | 5/9/2025 | | 0 | | 2,823 | | 0 | | 2,823 | | 2,823 |
| | | LTI 2024 – Tranche 2025 – Financial PSU | | 5/9/2025 | | 0 | | 4,705 | | 0 | | 4,705 | | 4,705 |
| | | LTI 2024 – Tranche 2025 – ESG PSU | | 5/9/2025 | | 0 | | 1,882 | | 0 | | 1,882 | | 1,882 |
| | | LTI 2024 – Tranche 2024 – Market PSU | | 3/12/2024 | | 4,415 | | 0 | | 0 | | 4,415 | | 4,415 |
| | | LTI 2024 – Tranche 2024 – Financial PSU | | 3/12/2024 | | 7,358 | | 0 | | 0 | | 7,358 | | 7,358 |
| | | LTI 2024 – Tranche 2024 – ESG PSU | | 3/12/2024 | | 2,943 | | 0 | | 0 | | 2,943 | | 2,943 |
| Thomas Saueressig | | LTI 2020 – Tranche 2023 – Market PSU | | 3/24/2023 | | 8,515 | | 0 | | 0 | | 8,515 | | 8,515 |
| | LTI 2020 – Tranche 2023 – Financial PSU | | 3/24/2023 | | 8,515 | | 0 | | 0 | | 8,515 | | 8,515 | |
| | LTI 2020 – Tranche 2023 – RSU | | 3/24/2023 | | 8,515 | | 0 | | 0 | | 8,515 | | 8,515 | |
| | | LTI 2020 – Tranche 2022 – Market PSU | | 3/28/2022 | | 7,125 | | 0 | | 3,563 | A | 10,688 | | 10,688 |
| | LTI 2020 – Tranche 2022 – Financial PSU | | 3/28/2022 | | 7,125 | | 0 | | 394 | A | 7,519 | | 7,519 | |
| | LTI 2020 – Tranche 2022 – RSU | | 3/28/2022 | | 7,125 | | 0 | | 0 | | 7,125 | | 7,125 | |
| | | LTI 2020 – Tranche 2021 – Market PSU | | 3/22/2021 | | 10,217 | | 0 | | -10,217 | E | 0 | | 0 |
| | | LTI 2020 – Tranche 2021 – Financial PSU | | 3/22/2021 | | 8,186 | | 0 | | -8,186 | E | 0 | | 0 |
| | LTI 2020 – Tranche 2021 – RSU | | 3/22/2021 | | 6,811 | | 0 | | -6,811 | E | 0 | | 0 | |
| | | LTI 2024 – Tranche 2025 – Market PSU | | 5/9/2025 | | 0 | | 1,952 | | 0 | | 1,952 | | 1,952 |
| Sebastian Steinhaeuser (from 2/1/2025) | LTI 2024 – Tranche 2025 – Financial PSU | | 5/9/2025 | | 0 | | 3,254 | | 0 | | 3,254 | | 3,254 | |
| | | LTI 2024 – Tranche 2025 – ESG PSU | | 5/9/2025 | | 0 | | 1,302 | | 0 | | 1,302 | | 1,302 |
| Gina Vargiu-Breuer | | LTI 2024 – Tranche 2025 – Market PSU | | 5/9/2025 | | 0 | | 2,133 | | 0 | | 2,133 | | 2,133 |
| | | LTI 2024 – Tranche 2025 – Financial PSU | | 5/9/2025 | | 0 | | 3,556 | | 0 | | 3,556 | | 3,556 |
| | | LTI 2024 – Tranche 2025 – ESG PSU | | 5/9/2025 | | 0 | | 1,422 | | 0 | | 1,422 | | 1,422 |
| | | LTI 2024 – Tranche 2024 – Market PSU | | 3/12/2024 | | 3,233 | | 0 | | 0 | | 3,233 | | 3,233 |
| | | LTI 2024 – Tranche 2024 – Financial PSU | | 3/12/2024 | | 5,388 | | 0 | | 0 | | 5,388 | | 5,388 |
| | | LTI 2024 – Tranche 2024 – ESG PSU | | 3/12/2024 | | 2,155 | | 0 | | 0 | | 2,155 | | 2,155 |
| Total | | | | | 342,830 | 60,172 | -75,488 | | 327,514 | 327,514 | ||||
Main Conditions
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | Grant Date Fair Value | | End of | | End of | | |
| Specification | | Grant Date | | Grant Price (in €) | | (in €) | | Performance Period | | Vesting Period | | Payout |
| LTI 2024 – Tranche 2025 – Financial PSU | | | 254.98 | December 2027 | | | ||||||
| LTI 2024 – Tranche 2025 – Market PSU | | 5/9/2025 | | 269.98 | | 303.31 | | February 2028 | | 12/31/2028 | | May 2029 |
| LTI 2024 – Tranche 2025 – ESG PSU | | | | | | 254.98 | | December 2027 | | | | |
| LTI 2024 – Tranche 2024 – Financial PSU | | 3/12/2024 | | | | 165.71 | | | | | | |
| | 4/2/2024 | | 166.25 | December 2026 | | | ||||||
| LTI 2024 – Tranche 2024 – Market PSU | | 3/12/2024 | | 163.08 | | 201.42 | | | | 12/31/2027 | May 2028 | |
| | 4/2/2024 | | 202.37 | February 2027 | | | ||||||
| LTI 2024 – Tranche 2024 – ESG PSU | 3/12/2024 | | 165.71 | | | | | |||||
| | 4/2/2024 | | 166.25 | December 2026 | | | ||||||
| LTI 2020 – Tranche 2023 – Financial PSU | | | 105.81 | December 2025 | | | ||||||
| LTI 2020 – Tranche 2023 – Market PSU | 3/24/2023 | 109.61 | 130.56 | February 2026 | 12/31/2026 | May 2027 | ||||||
| LTI 2020 – Tranche 2023 – RSU | | | 105.81 | NA | | | ||||||
| LTI 2020 – Tranche 2022 – Financial PSU | | | 96.84 | December 2024 | | | | |||||
| LTI 2020 – Tranche 2022 – Market PSU | 3/28/2022 | 106.61 | 108.20 | February 2025 | 12/31/2025 | May 2026 | ||||||
| LTI 2020 – Tranche 2022 – RSU | | | | | | 96.84 | | NA | | | | |
| LTI 2020 – Tranche 2021 – Financial PSU | | | | | | 100.28 | | December 2023 | | | | |
| LTI 2020 – Tranche 2021 – Market PSU | | 3/22/2021 | | 106.41 | | 115.19 | | February 2024 | | 12/31/2024 | | May 2025 |
| LTI 2020 – Tranche 2021 – RSU | | | 100.28 | NA | | |
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