Banco Santander (SAN) nears limit of €1.51B share buyback programme

Rhea-AI Filing Summary

Banco Santander reports progress on its ongoing share buyback programme. As of 10 December 2025, the bank has invested €1,505,372,814 repurchasing its own shares, which is about 88.6% of the programme’s maximum investment amount announced in July 2025.

With these purchases, Banco Santander has bought back approximately 15.2% of its outstanding shares as of 2021, significantly reducing its share count over time. During the period from 4 to 10 December 2025, the bank repurchased 7,100,000 shares across several European trading venues at weighted average prices around €9.38–€9.55 per share.

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 December, 2025

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 December 11, 2025

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 30 July 2025 (official registry number 2844) (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 4 and 10 December 2025 (both inclusive).

The cash amount of the shares purchased to 10 December 2025 as a result of the execution of the Buyback Programme amounts to 1,505,372,814 Euros, which represents approximately 88.6% 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 15.2% of its outstanding shares as of 2021.

Date	Security	Transaction	Trading venue	Number of shares	Weighted average price (€)
04/12/2025	SAN	Purchase	XMAD	1,063,650	9.3818
04/12/2025	SAN	Purchase	CEUX	78,181	9.3752
04/12/2025	SAN	Purchase	TQEX	20,767	9.3624
04/12/2025	SAN	Purchase	AQEU	37,402	9.3787
05/12/2025	SAN	Purchase	XMAD	1,105,754	9.5537
05/12/2025	SAN	Purchase	CEUX	105,783	9.5453
05/12/2025	SAN	Purchase	TQEX	31,893	9.5337
05/12/2025	SAN	Purchase	AQEU	56,570	9.5516
08/12/2025	SAN	Purchase	XMAD	548,807	9.3994
08/12/2025	SAN	Purchase	CEUX	93,160	9.4125
08/12/2025	SAN	Purchase	TQEX	20,035	9.4068
08/12/2025	SAN	Purchase	AQEU	37,998	9.4041
09/12/2025	SAN	Purchase	XMAD	1,582,767	9.5120
09/12/2025	SAN	Purchase	CEUX	203,526	9.5166
09/12/2025	SAN	Purchase	TQEX	77,756	9.5077
09/12/2025	SAN	Purchase	AQEU	35,951	9.5119
10/12/2025	SAN	Purchase	XMAD	1,839,866	9.5493
10/12/2025	SAN	Purchase	CEUX	117,976	9.5517
10/12/2025	SAN	Purchase	TQEX	42,158	9.5515
			TOTAL	7,100,000

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), 11 December 2025

1 

 

ANNEX I

Detailed information on each of the transactions carried out within the context of the Buy-back Programme between 04/12/2025 and 10/12/2025 (both inclusive)

(https://www.santander.com/content/dam/santander-com/es/documentos/cumplimiento/do-anexo-i-04-a-10-12-2025.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:	December 11, 2025		By:	/s/ Pedro de Mingo Kaminouchi
				Name:	Pedro de Mingo Kaminouchi
				Title:	Head of Corporate Compliance

FAQ

What did Banco Santander (SAN) announce in this December 2025 Form 6-K?

Banco Santander reported updated information on its share buyback programme, detailing purchases of its own shares made between 4 and 10 December 2025 and the cumulative progress of the programme.

How much has Banco Santander invested in its share buyback programme so far?

By 10 December 2025, Banco Santander had invested €1,505,372,814 in its share buyback programme, representing about 88.6% of the programme’s maximum investment amount.

What portion of Banco Santander’s share capital has been repurchased under the buyback?

The bank states that, with these purchases, it has repurchased approximately 15.2% of its outstanding shares as of 2021 through the buyback programme.

How many Banco Santander shares were repurchased between 4 and 10 December 2025?

During the period from 4 to 10 December 2025, Banco Santander bought back a total of 7,100,000 shares of its ordinary stock across multiple trading venues.

At what prices did Banco Santander repurchase its shares in this period?

The reported weighted average purchase prices during 4–10 December 2025 ranged around €9.38–€9.55 per share, varying slightly by trading venue and date.

Where were Banco Santander’s buyback transactions executed?

The share repurchases were carried out in the ordinary shares SAN on several venues including XMAD, CEUX, TQEX and AQEU.

Where can investors find the detailed transaction list for Banco Santander’s buyback?

Detailed information on each transaction in the period 04/12/2025–10/12/2025 is provided in Annex I, accessible via the link included in the company’s communication.