Ferrari (NYSE/EXM: RACE) reported progress on its Euro 250 million Second Tranche of the multi-year share buyback program of approximately Euro 3.5 billion planned through 2030. On July 8–9, 2026, Ferrari repurchased a total of 28,000 shares on Euronext Milan at an average price of €328.4580, for total consideration of €9,196,822.80 excluding fees.
According to Ferrari, from the April 10, 2026 launch of the Second Tranche to July 10, 2026, it invested €147,122,800.56 for 496,979 EXM shares and USD 40,797,556.26 (about €35,241,239.97) for 118,319 NYSE shares. As of July 10, 2026, Ferrari held 18,034,969 treasury common shares, equal to 9.30% of issued common shares, or 9.61% of total share capital including special voting shares. Since the buyback program began on January 5, 2026, Ferrari has repurchased 1,500,743 shares on EXM and NYSE for a total of €443,122,125.56.
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Positive
28,000 shares repurchased for €9.2 million on July 8–9, 2026
Second Tranche EXM purchases of 496,979 shares for €147.1 million
Second Tranche NYSE purchases of 118,319 shares for USD 40.8 million
Treasury holding of 18,034,969 shares, or 9.30% of issued common shares
Total program purchases since January 5, 2026 of 1,500,743 shares for €443.1 million
Negative
Cash outflow of about €443.1 million for buybacks since January 5, 2026
News Explained
Ferrari’s buyback is underway: 9.30% of issued common shares were held in treasury by July 10, while the approved cancellation remained pending.
On July 8 and 9, 2026, Ferrari purchased 28,000 common shares on Euronext Milan for total consideration of €9,196,822.80 under the €250 million second tranche of its buyback program. The immediate structural consequence is company cash used to acquire shares into treasury rather than a completed cancellation; the release therefore records an ongoing repurchase, not a completed reduction through cancellation.
Here, a buyback means Ferrari purchases its own common shares on Euronext Milan and the NYSE and reports them as treasury shares; cancellation is a separate later step in the release. The second tranche sits within a multi-year buyback program of approximately €3.5 billion expected to be executed by 2030, while the disclosed second-tranche spending through July 10, 2026 was €147,122,800.56.
Across the multi-year program, Ferrari reports purchases of 1,500,743 own common shares for €443,122,125.56 from January 5 through July 10, 2026, including transactions for sell-to-cover.
As of July 10, 2026, Ferrari held 18,034,969 common shares in treasury, equal to 9.30% of then-issued common shares; the cancellation approved at the April 15, 2026 annual meeting had not yet been effectuated.
News Market Reaction – RACE
-0.97%
-0.97%Session close to close
In the Jul 13 session, RACE declined 0.97%, reflecting a mild negative market reaction.
Maranello (Italy), July 13, 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
(€)
08/07/2026
EXM
18,000
329.7936
5,936,284.80
09/07/2026
EXM
10,000
326.0538
3,260,538.00
Total
-
28,000
328.4580
9,196,822.80
(*) 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 10, 2026, the total invested consideration has been:
Euro 147,122,800.56 for No. 496,979 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 10, 2026 the Company held in treasury No. 18,034,969 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 9.30% of the then total issued common shares. Including the special voting shares, the Company held in treasury 9.61% of the then total issued share capital. For the avoidance of doubt, the cancellation of treasury shares, as approved by the Annual General Meeting of Shareholders of the Company held on April 15, 2026, has not yet been effectuated and therefore has not been taken into account for such calculations.
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 10, 2026, the Company has purchased a total of 1,500,743 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 443,122,125.56.
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).
What did Ferrari (RACE) announce in its July 13, 2026 buyback report?
Ferrari reported additional share repurchases under its Euro 250 million Second Tranche. According to Ferrari, it bought 28,000 shares on Euronext Milan on July 8–9, 2026 for €9,196,822.80, and detailed cumulative buybacks since the multi-year program started in January 2026.
How many Ferrari (RACE) shares were repurchased on July 8–9, 2026 and at what price?
Ferrari repurchased 28,000 shares on July 8–9, 2026 on Euronext Milan. According to Ferrari, the average price was €329.7936 on July 8 and €326.0538 on July 9, corresponding to a total average price of €328.4580 and consideration of €9,196,822.80 excluding fees.
What is the size and timeline of Ferrari’s Euro 3.5 billion share buyback program?
Ferrari plans a multi-year share buyback of approximately €3.5 billion expected to be executed by 2030. According to Ferrari, this program, presented at the 2025 Capital Markets Day, began on January 5, 2026 and includes the current Euro 250 million Second Tranche.
How much has Ferrari (RACE) invested so far in the Second Tranche buyback?
Ferrari has invested €147,122,800.56 on EXM and USD 40,797,556.26 on NYSE in the Second Tranche. According to Ferrari, this corresponds to 496,979 shares on Euronext Milan and 118,319 shares on the NYSE purchased up to July 10, 2026.
What percentage of its shares does Ferrari hold in treasury as of July 10, 2026?
Ferrari held 18,034,969 treasury common shares as of July 10, 2026. According to Ferrari, this represented 9.30% of total issued common shares and 9.61% of total issued share capital when including special voting shares, before any cancellation approved in April 2026.
How many Ferrari (RACE) shares have been repurchased since the program started in January 2026?
Since January 5, 2026, Ferrari has repurchased a total of 1,500,743 own common shares on EXM and NYSE. According to Ferrari, these transactions, including Sell to Cover, amounted to total consideration of €443,122,125.56 under the multi-year buyback program.
Has Ferrari canceled any treasury shares approved by shareholders in April 2026?
Ferrari stated that the cancellation of treasury shares approved at the April 15, 2026 AGM has not yet been effected. According to Ferrari, this pending cancellation was therefore not included in its calculations of ownership percentages in the July 13, 2026 update.
