Ferrari (NYSE/EXM: RACE) reported progress on the €250 million Second Tranche of its multi-year share buyback program of approximately €3.5 billion planned by 2030. On July 27–28, 2026, the company repurchased 11,966 shares on Euronext Milan for a total of €4,010,331.82 at an average price of €335.1439 per share.
Since the Second Tranche announcement through July 30, 2026, Ferrari invested €187,393,142.03 for 620,677 shares on EXM and USD 40,797,556.26 (equivalent to €35,241,239.97) for 118,319 shares on NYSE. As of that date, Ferrari held 1,514,061 treasury shares, equal to 0.85% of issued common shares and 0.65% of total share capital including special voting shares. From the start of the overall program on January 5, 2026, total repurchases reached 1,624,441 shares for €483,392,467.03.
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Positive
€4.01 million spent to repurchase 11,966 shares on EXM July 27–28, 2026
Second Tranche cumulative EXM buybacks of 620,677 shares for €187.39 million
Second Tranche NYSE buybacks of 118,319 shares for USD 40.80 million
Treasury holding of 1,514,061 shares, 0.85% of issued common shares
Since Jan 5, 2026, buybacks totaling 1,624,441 shares for €483.39 million
Multi-year buyback program size of approximately €3.5 billion expected by 2030
Negative
None.
Market Context
Buyback-tagged history averaged a 0.99% move across five events, while RIVN was the only momentum-sc...
Analysis
Buyback-tagged history averaged a 0.99% move across five events, while RIVN was the only momentum-scanner peer at 4.278074949979782%. The announcement should be weighed against varied precedent and low short positioning, with execution cadence remaining the relevant watchpoint.
Key Figures
Second tranche:Euro 250 millionMulti-year buyback program:approximately Euro 3.5 billionShares purchased:11,966 common shares+5 more
8 metrics
Second trancheEuro 250 millionBuyback program announced April 10, 2026
Multi-year buyback programapproximately Euro 3.5 billionExpected to be executed by 2030
Shares purchased11,966 common sharesEXM purchases on July 27-28, 2026
Reported purchases across Euronext Milan and the NYSE
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Buyback-tagged events produced varied reactions: two aligned gains and three divergences, with an average move of 0.99%.
Key Terms
share buyback program, treasury shares, sell to cover
3 terms
share buyback programfinancial
"under the Euro 250 million share buyback program announced on April 10, 2026"
A share buyback program is when a company uses its cash to repurchase its own outstanding shares from the market, reducing the number of shares available to investors. That matters because it can raise the value of remaining shares and signal management's confidence in the business—similar to a bakery buying back unsold loafs to make each remaining loaf represent a larger share of its oven’s output—though buybacks can also affect cash available for other uses.
treasury sharesfinancial
"the Company held in treasury No. 1,514,061 common shares"
Treasury shares are a company’s own stock that it has repurchased and keeps on its books instead of canceling or leaving in the hands of outside investors. Think of them like coupons a business puts back in a drawer: they don’t vote or receive dividends while held, but they can be reissued later for employee pay or fundraising. For investors this matters because buybacks change the number of shares that count toward earnings and ownership, can boost per‑share metrics, and use corporate cash that might otherwise go to growth or dividends.
sell to coverfinancial
"including transactions for Sell to Cover"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
Maranello (Italy), July 31, 2026 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on April 10, 2026, as the second tranche of the multi-year share buyback program of approximately Euro 3.5 billion expected to be executed by 2030 in line with the disclosure made during the 2025 Capital Markets Day (the “Second Tranche”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) as follows:
Trading Date (dd/mm/yyyy)
Stock Exchange
Number of common shares purchased
Average price per share excluding fees (€)
Consideration excluding fees
(€)
27/07/2026
EXM
2,402
325.8765
782,755.35
28/07/2026
EXM
9,564
337.4714
3,227,576.47
Total
-
11,966
335.1439
4,010,331.82
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of such Second Tranche till July 30, 2026, the total invested consideration has been:
Euro 187,393,142.03 for No. 620,677 common shares purchased on the EXM
USD 40,797,556.26 (Euro 35,241,239.97*) for No. 118,319 common shares purchased on the NYSE.
As of July 30, 2026 the Company held in treasury No. 1,514,061 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 0.85% of the then total issued common shares. Including the special voting shares, the Company held in treasury 0.65% of the then total issued share capital.
Since January 5, 2026, start date of the multi-year share buyback program of approximately Euro 3.5 billion announced during the 2025 Capital Markets Day, until July 30, 2026, the Company has purchased a total of 1,624,441 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 483,392,467.03.
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: Ferrari Media & PR Email: media@ferrari.com
What did Ferrari (RACE) announce about its share buyback on July 31, 2026?
Ferrari reported recent activity in its €250 million Second Tranche buyback. According to Ferrari, it repurchased 11,966 shares on Euronext Milan on July 27–28, 2026 for €4,010,331.82, as part of its multi-year €3.5 billion program expected to run through 2030.
How many Ferrari (RACE) shares were repurchased on Euronext Milan in late July 2026?
Ferrari bought back 11,966 common shares on Euronext Milan on July 27–28, 2026. According to Ferrari, the average purchase price was €335.1439 per share, with total consideration of €4,010,331.82, under the €250 million Second Tranche of its ongoing buyback program.
What is the size of Ferrari’s multi-year share buyback program announced at the 2025 Capital Markets Day?
Ferrari’s multi-year buyback program is approximately €3.5 billion, expected to be executed by 2030. According to Ferrari, the reported €250 million Second Tranche is part of this broader plan, which began on January 5, 2026 and has already deployed over €483 million.
How many Ferrari (RACE) treasury shares were held as of July 30, 2026?
Ferrari held 1,514,061 common shares in treasury as of July 30, 2026. According to Ferrari, this represented 0.85% of total issued common shares and 0.65% of total issued share capital when including special voting shares in the calculation.
How much has Ferrari invested in the Second Tranche of its 2026 buyback so far?
Ferrari has invested €187,393,142.03 on EXM and USD 40,797,556.26 on NYSE in the Second Tranche. According to Ferrari, these amounts correspond to 620,677 shares on Euronext Milan and 118,319 shares on the New York Stock Exchange through July 30, 2026.
What are Ferrari’s total share repurchases since starting the 2026 buyback program?
Since January 5, 2026, Ferrari has repurchased 1,624,441 of its own common shares on EXM and NYSE. According to Ferrari, total consideration for these transactions under the multi-year program reached €483,392,467.03 by July 30, 2026, including Sell to Cover operations.
Where can investors find detailed Ferrari (RACE) buyback transaction data?
Investors can review detailed buyback transactions on Ferrari’s corporate website in the Buyback Programs section. According to Ferrari, this section provides a comprehensive overview of all trades carried out under the multi-year share repurchase program, including the latest Second Tranche purchases.
