CHARENTON-LE-PONT, France—EssilorLuxottica announced the launch of a share buyback program for the purchase of up to 1,500,000 EssilorLuxottica shares, depending on market conditions, over a period starting Sept. 23, 2022, and continuing until March 31, 2023. Shares acquired through the program are intended to be awarded or transferred to employees and corporate directors of EssilorLuxottica and affiliated companies, especially in the context of profit-sharing plans, bonus and performance share awards, stock option plans, and employee share ownership plans, the company said in a statement.

EssilorLuxottica is launching the share buyback program in accordance to the 14th resolution approved by the annual general meeting of May 25, 2022, during which the company was granted the right to purchase its own shares during the 18 months that followed the meeting, for an amount representing up to 10 percent of its share capital and for a price per share not exceeding €200.