Ferrari (NYSE:RACE) reported progress on the Euro 250 million second tranche of its multi-year Euro 3.5 billion share buyback program, targeted for completion by 2030.
From May 18–20, 2026, Ferrari repurchased 20,321 shares on Euronext Milan for Euro 5.66 million at an average price of Euro 278.385 per share. As of May 22, 2026, treasury holdings totaled 17,752,329 common shares, equal to 9.15% of issued common shares (9.50% including special voting shares). Since the program’s January 5, 2026 start, Ferrari has bought 1,218,103 shares on EXM and NYSE for Euro 357.49 million.
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Positive
Euro 5.66 million spent to repurchase 20,321 shares on EXM between May 18–20, 2026
Second tranche targets up to Euro 250 million within Euro 3.5 billion buyback by 2030
Euro 86.9 million invested for 297,808 EXM shares in second tranche by May 22, 2026
USD 11.50 million (Euro 9.82 million) used for 34,850 NYSE shares in second tranche
Treasury position of 17,752,329 common shares, equal to 9.15% of issued common shares
Total 1,218,103 shares repurchased since Jan 5, 2026 for Euro 357.49 million
Negative
Cancellation of treasury shares approved on April 15, 2026 has not yet been effectuated
Maranello (Italy), May 25, 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
(€)
18/05/2026
EXM
12,982
274.5472
3,564,171.75
20/05/2026
EXM
7,339
285.1737
2,092,889.78
Total
-
20,321
278.3850
5,657,061.53
(*) 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 May 22, 2026, the total invested consideration has been:
Euro 86,915,369.71 for No. 297,808 common shares purchased on the EXM
USD 11,499,218.14 (Euro 9,817,831.30*) for No. 34,850 common shares purchased on the NYSE.
As of May 22, 2026 the Company held in treasury No. 17,752,329 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 9.15% of the then total issued common shares. Including the special voting shares, the Company held in treasury 9.50% 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 May 22, 2026, the Company has purchased a total of 1,218,103 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 357,491,286.05.
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).
How many Ferrari (NYSE:RACE) shares were repurchased between May 18 and 20, 2026?
Ferrari bought 20,321 shares on Euronext Milan between May 18 and 20, 2026. According to Ferrari, these shares cost Euro 5,657,061.53 in total, at an average price of Euro 278.385 per share, excluding fees, under its ongoing buyback program.
What is the size and timeline of Ferrari’s Euro 3.5 billion share buyback program (RACE)?
Ferrari has a multi-year share buyback program of approximately Euro 3.5 billion running through 2030. According to Ferrari, the program began on January 5, 2026 and includes a Euro 250 million second tranche announced on April 10, 2026 as part of this plan.
How much has Ferrari (RACE) invested in the second tranche of its 2026 buyback so far?
Ferrari has invested Euro 86,915,369.71 on EXM and USD 11,499,218.14 on NYSE in the second tranche. According to Ferrari, this covers 297,808 EXM shares and 34,850 NYSE shares purchased from the April 10, 2026 announcement through May 22, 2026.
What percentage of its share capital does Ferrari hold in treasury as of May 22, 2026?
Ferrari holds 17,752,329 common shares in treasury, equal to 9.15% of issued common shares. According to Ferrari, including special voting shares, treasury holdings represent 9.50% of total issued share capital, with cancellation of treasury shares not yet executed.
How many Ferrari (NYSE:RACE) shares have been repurchased since the 2026 buyback program started?
Since January 5, 2026, Ferrari has repurchased a total of 1,218,103 common shares on EXM and NYSE. According to Ferrari, these transactions, including Sell to Cover operations, represent a total consideration of Euro 357,491,286.05 under its multi-year buyback program.
What is the value of Ferrari’s recent EXM buybacks under the second tranche in May 2026?
Ferrari spent Euro 5,657,061.53 on EXM buybacks between May 18 and 20, 2026. According to Ferrari, this amount, excluding fees, corresponds to purchasing 20,321 common shares at an average price of Euro 278.385 per share within the Euro 250 million second tranche.
