FERRARI N.V.: COMPLETION OF THE SECOND TRANCHE AND ANNOUNCEMENT OF THE THIRD TRANCHE OF THE MULTI-YEAR SHARE REPURCHASE PROGRAM
Rhea-AI Summary
Ferrari (NYSE/EXM: RACE) has completed the Second Tranche of its Euro 250 million share buyback program, part of a circa Euro 3.5 billion multi-year plan expected by 2030. The Second Tranche comprised Euro 199,999,777.22 for 655,884 shares on Euronext Milan and USD 58,001,993.62 (Euro 49,999,442.96*) for 159,855 shares on the NYSE.
As of August 28, 2026, Ferrari held 1,590,804 treasury common shares, equal to 0.90% of issued common shares, or 0.68% of total share capital including special voting shares. Since January 5, 2026, Ferrari has repurchased 1,701,184 shares for Euro 510,757,305.21.
Ferrari will launch a Third Tranche of up to Euro 250 million starting September 2, 2026, expected to end by December 16, 2026, funded from available cash. Up to Euro 200 million will be executed on EXM via a non-discretionary agreement with a bank, and up to Euro 50 million on NYSE under a separate mandate, under an authorization to repurchase up to 10% of common shares valid until October 14, 2027.
Positive
- Second Tranche completed with about €250 million total consideration for 815,739 shares across EXM and NYSE
- Since Jan 5, 2026 1,701,184 shares repurchased for €510,757,305.21 under the multi-year program
- Third Tranche of up to €250 million authorized from Sept 2 to Dec 16, 2026
- Non-discretionary €200 million EXM buyback structure allows purchases during closed periods under regulations
- Buybacks funded from available cash, limiting reliance on external financing
Negative
- Planned additional cash outlay of up to €250 million for the Third Tranche reduces available cash
- Despite significant spending, treasury holdings are 0.90% of common shares, indicating a relatively small percentage of the float has been repurchased so far
AI-generated analysis. How Rhea-AI works. Not financial advice.
Maranello (Italy), September 1 2026 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the
| EXM | NYSE | Total | ||||||||
| Trading | Number of common shares purchased | Average price per share | Consideration excluding fees | Number of common shares purchased | Average price per share | Consideration excluding fees | Consideration excluding fees | Number of common shares purchased | Average price per share | Consideration excluding fees |
| Date | excluding fees | excluding fees | excluding fees | |||||||
| (d/m/y) | (€) | (€) | ($) | ($) | (€)* | (€)* | (€)* | |||
| 26/08/2026 | 19,000 | 358.5439 | 6,812,334.10 | 21,734 | 414.0844 | 8,999,710.35 | 7,712,494.94 | 40,734 | 356.5775 | 14,524,829.04 |
| 27/08/2026 | 9,500 | 354.6650 | 3,369,317.50 | 19,802 | 414.3383 | 8,204,727.02 | 7,045,708.04 | 29,302 | 355.4374 | 10,415,025.54 |
| 28/08/2026 | 6,707 | 361.5601 | 2,424,983.59 | - | - | - | - | 6,707 | 361.5601 | 2,424,983.59 |
| 35,207 | 358.0718 | 12,606,635.19 | 41,536 | 414.2054 | 17,204,437.37 | 14,758,202.99 | 76,743 | 356.5776 | 27,364,838.18 | |
| Total | ||||||||||
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
With the purchases described above the Company has completed the Second Tranche.
The total consideration for such Second Tranche was:
Euro 199,999,777.22 for No. 655,884 common shares purchased on the EXM- USD 58,001,993.62 (
Euro 49,999,442.96 *) for No. 159,855 common shares purchased on the NYSE.
As of August 28, 2026 the Company held in treasury No. 1,590,804 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to
Since January 5, 2026, start date of the multi-year share buyback program of approximately
The Company intends to continue its multi-year share buyback program with a third tranche of up to
The Third Tranche will be funded through the Company’s available cash, and common shares repurchased under the Second Tranche may be used to meet the obligations arising from the Company’s equity incentive plan.
The Third Tranche has two components.
Firstly, Ferrari has entered into a non-discretionary buyback agreement for up to
Secondly, Ferrari has entered into an additional mandate with a primary financial institution for up to
The Third Tranche implements the resolution adopted by the Shareholders’ Meeting (held on April 15, 2026) and duly communicated to the market, which authorized the purchase of up to
Details of the repurchase transactions carried out under the Third Tranche will be disclosed to the market as required by applicable regulation.
A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).
About Ferrari
Ferrari is one of the world’s leading luxury brands, encompassing racing, sports cars and lifestyle. In each of these three souls, the Prancing Horse is a symbol of exclusivity, innovation and cutting-edge performance. The brand’s heritage and global recognition are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful in the sport’s history. Since the inaugural World Championship in 1950, Scuderia Ferrari has claimed 16 Constructors’ and 15 Drivers’ world titles. From its home in Maranello, Italy, Ferrari designs, engineers, and produces some of the world’s most iconic and recognisable luxury sports cars, sold in over 60 markets worldwide. In lifestyle, Ferrari designs and creates a selection of personal luxury goods, collectibles and experiences that embody the brand’s elevated style and passion.
Forward Looking Statements
In this document, unless otherwise specified, the terms “we”, “our”, “us”, the “Group”, the “Company” and “Ferrari” refer to Ferrari N.V., individually or together with its subsidiaries, as the context may require. This document, and in particular the section entitled “2026 Guidance”, contain forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” and similar expressions. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: our ability to preserve and enhance the value of the Ferrari brand; our ability to attract and retain qualified personnel; the success of our racing activities; our ability to keep up with advances in high performance car technology, to meet the challenges and costs of integrating electric technology more broadly into our car portfolio over time and to make appealing designs for our new models; increases in costs, including as a result of increasingly stringent fuel economy, emissions and safety standards, disruptions of supply or shortages of components and raw materials; our ability to successfully carry out our controlled volume and growth strategy, while increasing our presence in growth market countries; changes in general economic conditions (including changes in the markets in which we operate) and changes in demand for luxury goods, including high performance luxury cars, which is volatile; macro events, pandemics and conflicts, including the ongoing conflicts in Ukraine and the Middle East region, and the related issues potentially impacting sourcing and transportation; trading policies and tariffs; competition in the luxury performance automobile industry; changes in client preferences and automotive trends; our ability to preserve the value of our cars over time and our relationship with the automobile collector and enthusiast community; disruptions at our manufacturing facilities in Maranello and Modena; climate change and other environmental impacts, as well as an increased focus of regulators and stakeholders on environmental matters; our ability to maintain the functional and efficient operation of our information technology systems and to defend against the risk of cyberattacks; the ability of our current management team to operate and manage effectively, and the reliance upon a number of key members of executive management and employees; the performance of our dealer network on which we depend for sales and services; product warranties, product recalls and liability claims; the sponsorship and commercial revenues and expenses of our racing activities, as well as the popularity of motor sports more broadly; the performance of our lifestyle activities; our ability to protect our intellectual property rights and to avoid infringing the intellectual property rights of others; changes in tax or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which we operate; our continued compliance with customs regulations of various jurisdictions; labor relations and collective bargaining agreements; our ability to ensure that our employees, agents and representatives comply with applicable law and regulations; exchange rate fluctuations, interest rate changes, credit risk and other market risks; our ability to service and refinance our debt; our ability to provide or arrange for adequate access to financing for our clients and dealers, and associated risks; the adequacy of our insurance coverage to protect us against potential losses; potential conflicts of interest due to director and officer overlaps with our largest shareholders, and other factors discussed elsewhere in this document.
The Group expressly disclaims and does not assume any liability in connection with any inaccuracies in any of the forward-looking statements in this document or in connection with any use by any third party of such forward-looking statements. Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB.
For further information:
Ferrari Media & PR
Email: media@ferrari.com
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