The regulatory disclosure reflects a technical restructuring of Sawiris’s derivatives exposure rather than any change in his long-term 3.34 percent stake in the German sportswear group. Supervisory board members’ derivative transactions are subject to mandatory disclosure under EU market-abuse rules.
An investment vehicle linked to adidas AG Supervisory Board Member Nassef Sawiris has disclosed the closure of a short put derivative position on adidas shares, with total closing transaction value recorded at €4.6 million, in a regulatory filing published March 30.
NNS Investments (Cyprus) Limited, the entity through which Sawiris holds his adidas exposure, executed the closure on March 26. NNS Investments paid €53.00 per underlying share to exit the contract, with total transaction volume at €4,611,000. The filing classifies NNS Investments as a person closely associated with Sawiris in his capacity as a Member of the adidas Supervisory Board, triggering mandatory disclosure under EU Market Abuse Regulation (MAR) Article 19 rules governing managerial responsibility holders and their associates.
The filing does not separately disclose the original strike price of the put.
A technical restructuring, not a strategic exit
A short put – an obligation to purchase shares at a pre-agreed price if the contract is exercised – was wound down following a shift in its settlement method from physical delivery to cash. The change means any remaining exposure will be settled in cash rather than through the direct acquisition of adidas shares. Sawiris’s underlying long-term stake in adidas AG, which stands at 3.34 percent, remains unaffected by the adjustment.
The transaction is best read as a portfolio management move within an established position rather than a signal of changed conviction. Derivative restructurings of this kind are common among large shareholders who manage equity exposure through layered instruments alongside their direct holdings.
Why it is filed publicly
Under MAR, persons discharging managerial responsibilities at EU-listed companies – and entities closely associated with them – must notify the relevant authority and the issuer of transactions in the company’s financial instruments above a €5,000 calendar-year threshold. The filing was submitted outside a trading venue, which is standard for derivatives settled over the counter.
About
Nassef Sawiris is an Egyptian-born billionaire industrialist, Executive Chairman of OCI NV, a global producer of nitrogen fertilizers and methanol, and co-owner of Aston Villa Football Club. He has held a significant stake in adidas AG for several years and sits on the company’s Supervisory Board.
