Banco Santander (SAN) buyback hits 2,965,628,002 Euros and 59% of cap

Rhea-AI Filing Summary

Banco Santander reports progress on its ongoing share buyback programme. As of 3 June 2026, the cash amount invested in repurchasing its own shares totals 2,965,628,002 Euros, representing approximately 59% of the programme’s maximum investment amount and about 17% of its outstanding shares as of 2021.

Between 28 May and 3 June 2026, the bank bought 12,765,369 shares on venues including XMAD and CEUX at weighted average prices around 10.65–10.78 Euros per share.

Insights

Banking equity analyst

Large ongoing buyback reduces Santander’s share count significantly.

Banco Santander indicates that its buyback programme has reached 2,965,628,002 Euros of repurchases, equal to about 59% of the authorised amount. The bank also states that this corresponds to roughly 17% of its outstanding shares as of 2021.

Such a sizeable reduction in share count can increase earnings per share, assuming profits are stable, although this update mainly confirms execution of a programme announced earlier. The purchases during 28 May–3 June 2026, totalling 12,765,369 shares, show continued activity across multiple trading venues at prices near 10.7 Euros.

Key Figures

Buyback cash amount: 2,965,628,002 Euros Buyback completion: 59% of maximum investment amount Share count reduction: 17% of outstanding shares +4 more

7 metrics

Buyback cash amount 2,965,628,002 Euros Cash amount of shares purchased to 3 June 2026 under Buyback Programme

Buyback completion 59% of maximum investment amount Portion of Buyback Programme executed as of 3 June 2026

Share count reduction 17% of outstanding shares Approximate share repurchases relative to 2021 outstanding shares

Period shares repurchased 12,765,369 shares Total shares bought between 28 May and 3 June 2026

28/05/2026 purchase 100,000 shares at 10.7039 Euros Weighted average price on XMAD

01/06/2026 main XMAD trade 3,500,000 shares at 10.6539 Euros Weighted average price on XMAD

03/06/2026 CEUX trade 1,500,000 shares at 10.6682 Euros Weighted average price on CEUX

Key Terms

Buyback Programme, inside information, Regulation (EU) no. 596/2014 on Market Abuse, Commission Delegated Regulation (EU) 2016/1052, +2 more

6 terms

Buyback Programme financial

"relating to the buyback programme of own shares (the “Buyback Programme”)"

inside information regulatory

"notice of inside information of 4 February 2026 (official registry number 3077)"

Information not available to the public that, if known, would likely cause a company’s stock or bonds to rise or fall—for example, undisclosed earnings, deals, product results, or management plans. It matters because trading on that information gives an unfair advantage, can distort market prices, and is typically illegal or subject to strict rules, so investors watch for proper disclosure and compliance to protect fair, transparent markets.

Regulation (EU) no. 596/2014 on Market Abuse regulatory

"Pursuant to article 5 of Regulation (EU) no. 596/2014 on Market Abuse of 16 April 2014"

Commission Delegated Regulation (EU) 2016/1052 regulatory

"and articles 2.2 and 2.3 of Commission Delegated Regulation (EU) 2016/1052, of 8 March 2016"

LEI financial

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

A Legal Entity Identifier (LEI) is a unique 20-character code assigned to a company or organization that participates in financial markets, like a corporate passport number. It helps investors and regulators unambiguously identify counterparties across databases and transactions, reducing confusion much like using a vehicle identification number to track a car’s history; clearer identification improves transparency, risk monitoring, and regulatory reporting.

ordinary shares financial

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

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

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Form 6-K: How Foreign Companies Report to the SEC →

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 June, 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 June 4, 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 28 May and 3 June (both inclusive).

The cash amount of the shares purchased to 3 June 2026 as a result of the execution of the Buyback Programme amounts to 2,965,628,002 Euros, which represents approximately 59% 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 17% of its outstanding shares as of 2021.

Date	Security	Transaction	Trading venue	Number of shares	Weighted average price (€)
28/05/2026	SAN	Purchase	XMAD	100,000	10.7039
29/05/2026	SAN	Purchase	XMAD	100,000	10.7750
01/06/2026	SAN	Purchase	XMAD	3,500,000	10.6539
01/06/2026	SAN	Purchase	CEUX	1,000,000	10.6560
02/06/2026	SAN	Purchase	XMAD	2,672,545	10.7196
02/06/2026	SAN	Purchase	CEUX	1,000,000	10.7169
03/06/2026	SAN	Purchase	XMAD	2,892,824	10.6722
03/06/2026	SAN	Purchase	CEUX	1,500,000	10.6682
			TOTAL	12,765,369

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), 4 June 2026

ANNEX I

Detailed information on each of the transactions carried out within the context of the Buy-back Programme between 28/05/2026 and 03/06/2026 (both inclusive)

(https://www.santander.com/content/dam/santander-com/es/documentos/cumplimiento/do-anexo-i-28-mayo-a-03-junio-2026-es.pdf)

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:	June 4, 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 invested 2,965,628,002 Euros in its share buyback as of 3 June 2026. This cash amount reflects the value of shares repurchased under the ongoing programme since its commencement.

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

The bank reports that the 2,965,628,002 Euros already invested equals approximately 59% of the buyback programme’s maximum investment amount. This indicates the programme is more than halfway executed but not yet fully completed.

How many Banco Santander shares were repurchased between 28 May and 3 June 2026?

Between 28 May and 3 June 2026, Banco Santander repurchased 12,765,369 shares. These trades occurred mainly on the XMAD and CEUX trading venues at weighted average prices slightly above 10.65 Euros per share.

What share of Banco Santander’s equity has the buyback reduced so far?

The bank states that the completed portion of the buyback equates to about 17% of its outstanding shares as of 2021. This indicates a substantial reduction in the share count compared with that 2021 baseline.

Under which regulations is Banco Santander conducting its buyback programme?

The buyback is carried out under Regulation (EU) no. 596/2014 on Market Abuse and Commission Delegated Regulation (EU) 2016/1052. These rules govern how listed companies in the EU execute and report share repurchase programmes.