Banco Santander (SAN) has bought back about 16.4% of its shares

Rhea-AI Filing Summary

Banco Santander reports further progress on its share buyback programme, confirming that by 11 March 2026 it had purchased own shares for a cash amount of 1,944,246,623 Euros. This represents approximately 38.7% of the maximum investment amount approved for the programme.

The bank states that, with these purchases, it has repurchased approximately 16.4% of its outstanding shares as of 2021. Between 5 and 11 March 2026, it bought 13,456,032 shares on venues including XMAD and CEUX at weighted average prices ranging from 9.3623 to 9.9682 Euros per share.

Insights

Equity capital markets analyst

Update shows sizeable but pre-announced share buyback execution.

Banco Santander confirms ongoing execution of its approved share buyback, with purchases totalling 1,944,246,623 Euros, or about 38.7% of the programme’s maximum investment amount. The bank indicates this has reduced its share count by roughly 16.4% versus outstanding shares as of 2021.

This development mainly updates investors on pace and scale rather than changing the original programme’s terms. The detailed trading data for 13,456,032 shares between 5 and 11 March 2026, at prices around 9.36–9.97 Euros, offers transparency on execution without introducing new strategic directions.

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of March, 2026

Commission File Number: 001-12518

Banco Santander, S.A. 

(Exact name of registrant as specified in its charter)

Ciudad Grupo Santander

28660 Boadilla del Monte (Madrid) Spain

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F X Form 40-F

Banco Santander, S.A.

TABLE OF CONTENTS

Item
1	Report of Other Relevant Information dated March 12, 2026

 Item 1

Banco Santander, S.A. (the “Bank” or “Banco Santander”), in compliance with the Securities Market legislation, hereby communicates the following:

OTHER RELEVANT INFORMATION

Reference is made to our notice of inside information of 4 February 2026 (official registry number 3077) (the “Buyback Commencement Communication”), relating to the buyback programme of own shares (the “Buyback Programme”) approved by the Board of Directors of Banco Santander.

Pursuant to article 5 of Regulation (EU) no. 596/2014 on Market Abuse of 16 April 2014, and articles 2.2 and 2.3 of Commission Delegated Regulation (EU) 2016/1052, of 8 March 2016, the Bank informs of the transactions carried out over its own shares between 5 and 11 March (both inclusive).

The cash amount of the shares purchased to 11 March 2026 as a result of the execution of the Buyback Programme amounts to 1,944,246,623 Euros, which represents approximately 38.7% of the maximum investment amount of the Buyback Programme. The programme was announced together with its other characteristics through the Buyback Commencement Communication. With these purchases, the Bank has repurchased approximately 16.4% of its outstanding shares as of 2021.

Date	Security	Transaction	Trading venue	Number of shares	Weighted average price (€)
05/03/2026	SAN	Purchase	XMAD	100,000	9.9171
06/03/2026	SAN	Purchase	XMAD	6,000,000	9.5804
06/03/2026	SAN	Purchase	CEUX	2,156,032	9.5667
09/03/2026	SAN	Purchase	XMAD	5,000,000	9.3623
10/03/2026	SAN	Purchase	XMAD	100,000	9.9682
11/03/2026	SAN	Purchase	XMAD	100,000	9.8807
			TOTAL	13,456,032

Issuer name: Banco Santander, S.A. - LEI 5493006QMFDDMYWIAM13

Reference of the financial instrument: ordinary shares - Code ISIN ES0113900J37

Detailed information of the transactions carried out within the referred period is attached as Annex I.

Boadilla del Monte (Madrid), 12 March 2026

1 

 

ANNEX I

Detailed information on each of the transactions carried out within the context of the Buy-back Programme between 05/03/2026 and 11/03/2026 (both inclusive)

(https://www.santander.com/content/dam/santander-com/es/documentos/cumplimiento/do-anexo-i-05-a-11-marzo-2026-es.pdf)

2 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			Banco Santander, S.A.
Date:	March 12, 2026		By:	/s/ Pedro de Mingo Kaminouchi
				Name:	Pedro de Mingo Kaminouchi
				Title:	Head of Corporate Compliance

FAQ

How much has Banco Santander spent so far on its 2026 share buyback?

Banco Santander has spent a cash amount of 1,944,246,623 Euros on buying back its own shares to 11 March 2026. This figure reflects cumulative purchases under the current buyback programme, as disclosed in the March 2026 update.

What proportion of Banco Santander’s buyback programme is completed?

By 11 March 2026, Banco Santander’s buyback purchases represented approximately 38.7% of the maximum investment amount of the programme. This indicates a substantial portion of the authorised buyback has already been executed under the existing Board-approved terms.

How much of its share capital has Banco Santander repurchased under the programme?

Banco Santander states it has repurchased approximately 16.4% of its outstanding shares as of 2021 through the buyback programme. This percentage highlights the scale of capital returned via share repurchases relative to the earlier share count baseline.

How many Banco Santander shares were repurchased between 5 and 11 March 2026?

Between 5 and 11 March 2026, Banco Santander repurchased a total of 13,456,032 shares under its buyback programme. These trades were executed mainly on XMAD, with an additional purchase on CEUX during that period, at disclosed weighted average prices.

What price levels did Banco Santander pay for its share buybacks in early March 2026?

During 5–11 March 2026, Banco Santander’s weighted average purchase prices ranged from 9.3623 to 9.9682 Euros per share. Individual trading days show prices such as 9.5804 Euros and 9.5667 Euros, reflecting the actual execution levels in the market.

On which trading venues did Banco Santander execute its March 2026 buybacks?

Banco Santander executed its buyback trades on the XMAD and CEUX trading venues between 5 and 11 March 2026. The majority of transactions occurred on XMAD, with one listed transaction on CEUX, all involving purchases of ordinary shares with ISIN ES0113900J37.