How to read a BaFin filing
Every field in a BaFin Directors' Dealings disclosure, with a worked example.
BaFin publishes Directors' Dealings at portal.mvp.bafin.de/database/DealingsInfo/. Here's what each column means:
Emittent — the issuing company. E.g., "SAP SE".
BaFin-ID — their internal reference number. Not very useful to investors but handy for cross-referencing.
ISIN — the International Securities Identification Number. DE0007164600 is SAP. Starts with country code (DE, FR, SE, etc.) then a 9-char stock identifier and 1 checksum digit.
Meldepflichtiger — the reporting person. This is either the PDMR directly (e.g. "Asam, Dominik" — the CFO) or a "closely associated" entity (e.g. "Klatten Beteiligungs GmbH" — a family holding company).
Position / Status — Vorstand (Management Board), Aufsichtsrat (Supervisory Board), or "in enger Beziehung" (closely associated).
Art des Instruments — Aktie (shares), Anleihe (bonds), or a derivative type. We filter to shares only on the main leaderboard.
Art des Geschäfts — Kauf (buy), Verkauf (sell), Schenkung (gift), Zuwendung (award), Zeichnung (subscription). We only count Kauf/Verkauf for ratings.
Durchschnittspreis — volume-weighted average price per share, in the trading currency (EUR or other).
Aggregiertes Volumen — total transaction value (price × shares).
Datum des Geschäfts — the transaction date.
Mitteilungsdatum — the filing date. Must be within 3 business days of the transaction.
Ort des Geschäfts — the trading venue (XETRA, Tradegate, etc.).
Worked example: On 2026-01-30, Dominik Asam (SAP CFO) filed a Kauf of 6,000 Aktien at €169.18 average price, aggregate €1,015,055. XETRA. That's a €1M open-market purchase by the CFO of a €200B-cap company. Signal strength: moderate — he's in a position to know, €1M is meaningful to him personally, and the buy is not tied to option exercise.