Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 441

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 441
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 restricted stock units pursuant to the terms of the relevant award agreements upon vesting of
the underlying restricted stock units.

F-146

(b) Share Repurchase Program In September 2023, our board of directors authorized and approved, subject to shareholder approval, and in December 2023, the shareholders approved a share repurchase program authorizing for a three year period the repurchase of up to 20.0 million of the Company’s common shares, up to $200.0 million aggregate amount for which shares may be repurchased, which may be made in any manner including tender or other offers, buy-backprograms, or privately negotiated transactions in accordance with all applicable securities laws, rules, and regulations (the “Share Repurchase Program”). During the year ended December 31, 2023, we repurchased 220,000 common shares for $6.5 million at an average price per share of $29.75. We did not repurchase any common shares under the Share Repurchase Program during the year ended December 31, 2024. As of December 31, 2024, approximately $193.5 million remained available under the Share Repurchase Program. Note 10—Leases Lessee We lease corporate and branch offices, various facilities, land and equipment, specifically third-party teleport and circuit/dark fiber, third-party capacity and mission extension vehicles. Certain leases include one or more options to renew, with renewal terms that can extend the lease term from one year to fifteen years. The exercise of lease renewal options is at our sole discretion. Our lease agreements generally do not include options to purchase the leased property. The depreciable life of leasehold improvements is limited by the expected lease term in the absence of a transfer of title or purchase option reasonably certain of exercise. Certain of our lease agreements include rental payments with escalation provisions as defined in the contracts. These escalation provisions are included in the calculation of the present value of the lease payments for purposes of determining the value of the respective ROU asset and lease liability. Our lease agreements do not contain any material residual value guarantees or materially restrictive covenants. We rent, license or sublease certain office space and land to third parties. The following table sets forth supplemental balance sheet information related to ROU assets and lease liabilities (in thousands):

|                         |     |                                                     | Classification |   | As of December 31, 2023 |     |   | As of December 31, 2024 |
|:------------------------|:----|: