Ferrari N.V.: Periodic Report on the Buyback Program
Ferrari N.V. announces the purchase of common shares under a Euro 350 million share buyback program, part of a larger multi-year program totaling approximately Euro 2 billion by 2026. The company has bought back shares on the Euronext Milan and New York Stock Exchange, totaling Euro 144,322,508.33 and USD 40,493,638.81 as of March 15, 2024. Ferrari has acquired a total of 2,906,397 own common shares since July 1, 2022, under the buyback program.
03/18/2024 - 11:11 AM
Maranello (Italy), March 18, 2024 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari ” or the “Company ”) informs that the Company has purchased, under the Euro 350 million share buyback program announced on November 7, 2023, as the fourth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Fourth Tranche ”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) and on the New York Stock Exchange (NYSE) as follows:
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) (€) (€) ($) ($) (€)* (€)* (€)* 11/03/2024 3,935 381.5618 1,501,445.68 - - - - 3,935 381.5618 1,501,445.68 12/03/2024 3,936 383.1936 1,508,250.01 4,727 423.0374 1,999,697.79 1,831,896.11 8,663 385.5646 3,340,146.12 13/03/2024 3,848 386.0778 1,485,627.37 - - - - 3,848 386.0778 1,485,627.37 14/03/2024 3,793 387.2023 1,468,658.32 - - - - 3,793 387.2023 1,468,658.32 15/03/2024 3,879 388.1760 1,505,734.70 - - - - 3,879 388.1760 1,505,734.70 19,391 385.2156 7,469,716.09 4,727 423.0374 1,999,697.79 1,831,896.11 24,118 385.6710 9,301,612.20 Total
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of such Fourth Tranche till March 15, 2024, the total invested consideration has been:
Euro 144,322,508.33 for No. 428,821 common shares purchased on the EXMUSD 40,493,638.81 (Euro 37,190,517.19 *) for No. 108,103 common shares purchased on the NYSE. On March 15, 2024, in the Ferrari Group employees’ granting share process, the Company assigned No. 76,979 common shares held in treasury. On the same day Ferrari purchased, in a “cross order” transaction executed on the EXM, No. 35,189 common shares in order to cover individual's taxable income as standard practice (Sell to Cover) at the average price of Euro 385.00 00 per share. As of March 15, 2024, the Company held in treasury No. 13,753,876 common shares equal to 5.35% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.
Since the start of the multi-year share buyback program of approximately Euro 2 billion announced during the 2022 Capital Markets Day, on July 1, 2022, until March 15, 2024, the Company has purchased a total of 2,906,397 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 754,257,551.67 .
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 ).
For further information: Media Relations tel.: +39 0536 949337 Email: media@ferrari.com
How much is Ferrari's share buyback program worth?
Ferrari's Euro 350 million share buyback program is part of a larger initiative totaling approximately Euro 2 billion by 2026.
Where has Ferrari purchased common shares?
Ferrari has bought back shares on the Euronext Milan and New York Stock Exchange.
How many own common shares has Ferrari purchased since July 1, 2022?
Ferrari has acquired a total of 2,906,397 own common shares since July 1, 2022, under the buyback program.
What is the total consideration for the shares bought back by Ferrari?
As of March 15, 2024, Ferrari has spent Euro 144,322,508.33 and USD 40,493,638.81 on the shares purchased under the buyback program.
Where can more details about Ferrari's buyback programs be found?
For more information on the buyback programs and detailed transaction records, visit Ferrari's corporate website under the Buyback Programs section.
RACE Rankings
#380 Ranked by Stock Gains
RACE Stock Data
Industry
Automobile Manufacturing
Sector
Manufacturing
Tags
Consumer Durables, Motor Vehicles, Manufacturing, Automobile Manufacturing
Country
Italy
City
Maranello
About RACE
Ferrari S.p.A. is an Italian luxury sports car manufacturer based in Maranello, Italy. Founded by Enzo Ferrari in 1939 from the Alfa Romeo racing division as Auto Avio Costruzioni, the company built its first car in 1940, and produced its first Ferrari-badged car in 1947.