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Ferrari (NYSE: RACE) advances €3.5B multi-year share buyback with new purchases

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Rhea-AI Filing Summary

Ferrari N.V. reported recent activity under its ongoing share repurchase plan. As part of the €250 million second tranche of a multi-year buyback program of about €3.5 billion expected to be executed by 2030, the company repurchased 20,321 common shares on Euronext Milan on May 18 and 20, 2026 for total consideration of €5,657,061.53 at an average price of €278.3850 per share.

From the start of this second tranche through May 15, 2026, Ferrari invested €81,258,308.18 to buy 277,487 shares on EXM and $11,499,218.14 (translated to €9,817,831.30) to buy 34,850 shares on the NYSE. As of May 22, 2026, it held 17,752,329 common shares in treasury, equal to 9.15% of issued common shares and 9.50% of total share capital including special voting shares. Since January 5, 2026, the company has repurchased 1,218,103 shares for €357,491,286.05 under the broader multi-year program.

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Insights

Ferrari continues executing a sizable, multi-year share repurchase that is steadily building treasury holdings.

Ferrari is progressing through a planned €3.5 billion multi-year buyback, with a dedicated €250 million second tranche. The latest update shows purchases of 20,321 shares for €5.66 million at an average price just over €278 per share.

Since early 2026, the company has spent about €357.5 million to acquire 1,218,103 shares across EXM and NYSE. As of May 22, 2026, it holds 17,752,329 treasury shares, representing 9.15% of issued common shares, indicating a meaningful reduction of free float once any planned cancellations are implemented.

Second tranche size €250 million Share buyback second tranche announced April 10, 2026
Total program target €3.5 billion Multi-year share buyback expected by 2030
Recent shares repurchased 20,321 shares EXM purchases on May 18 and 20, 2026
Recent consideration €5,657,061.53 Cost of 20,321 shares, excluding fees
Treasury shares held 17,752,329 shares As of May 22, 2026, common shares in treasury
Treasury ownership percentage 9.15% / 9.50% Of issued common shares and total share capital as of May 22, 2026
Total 2026 buyback spend €357,491,286.05 Program purchases since January 5, 2026
Total shares bought since Jan 2026 1,218,103 shares Own common shares on EXM and NYSE
share buyback program financial
"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.
multi-year share buyback program financial
"the multi-year share buyback program of approximately Euro 3.5 billion expected to be executed by 2030"
treasury shares financial
"the Company held in treasury No. 17,752,329 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.
special voting shares financial
"Including the special voting shares, the Company held in treasury 9.50% of the then total issued share capital"
Shares that carry extra or different voting power than ordinary shares, allowing their holders to control corporate decisions disproportionate to their economic stake. For investors this matters because these shares can concentrate control in the hands of a few — like owning the steering wheel while others own most of the car — which can affect board choices, strategic direction, minority shareholder influence and the value or liquidity of ordinary shares.
Sell to Cover financial
"including transactions for Sell to Cover, for a total consideration of Euro 357,491,286.05"
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.
Form 6-K: How Foreign Companies Report to the SEC →



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
FORM 6-K
_______________________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2026
Commission File No. 001-37596
_______________________________
FERRARI N.V.
(Translation of Registrant’s Name Into English)

_______________________________
Via Abetone Inferiore n.4
I-41053 Maranello (MO)
Italy
Tel. No.: +39 0536 949111
(Address of Principal Executive Offices)
_______________________________

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F x Form 40-F o















    
The following exhibit is furnished herewith:
Exhibit 99.1    Press release issued by Ferrari N.V. dated May 25, 2026.






SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 25, 2026FERRARI N.V.
By:/s/ Antonio Picca Piccon
Name:Antonio Picca Piccon
Title:Chief Financial Officer



Index of Exhibits
Exhibit
Number    Description of Exhibit

99.1        Press release issued by Ferrari N.V. dated May 25, 2026.





Exhibit 99.1

FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM


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

(€)
18/05/2026EXM12,982274.54723,564,171.75
20/05/2026EXM7,339285.17372,092,889.78
Total—20,321278.38505,657,061.53

(*) 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 15, 2026, the total invested consideration has been:
•Euro 81,258,308.18 for No. 277,487 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.
















Ferrari N.V.
Amsterdam, The Netherlands










Registered Office:
Via Abetone Inferiore N. 4,
I – 41053 Maranello (MO) Italy










Dutch trade registration number:
64060977
corporateweba.jpg



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).




For further information:
Media Relations
Email: media@ferrari.com
2

Source: View Original Filing on SEC EDGAR

FAQ

What did Ferrari (RACE) announce in its May 2026 buyback update?

Ferrari reported progress under its multi-year share buyback program, noting recent purchases of 20,321 common shares on Euronext Milan for €5,657,061.53. The update also detailed cumulative spending and shares repurchased since January 2026 across both EXM and NYSE trading venues.

How many Ferrari (RACE) shares were recently repurchased and at what cost?

Ferrari repurchased 20,321 common shares on May 18 and 20, 2026, on Euronext Milan. The average price was €278.3850 per share, for total consideration of €5,657,061.53, excluding fees, under the €250 million second tranche of its broader buyback program.

What is the size of Ferrari’s (RACE) current share buyback tranches and overall program?

Ferrari is executing a multi-year share buyback program of approximately €3.5 billion expected to run through 2030. Within this, the current second tranche totals €250 million, announced in April 2026, with ongoing purchases reported periodically as part of this structured capital return plan.

How many Ferrari (RACE) shares does the company now hold in treasury?

As of May 22, 2026, Ferrari held 17,752,329 common shares in treasury, net of equity incentive assignments. This represents 9.15% of the then total issued common shares and 9.50% of total issued share capital when including special voting shares in the calculation.

How much has Ferrari (RACE) invested so far in the second buyback tranche?

From the announcement of the second tranche through May 15, 2026, Ferrari invested €81,258,308.18 to buy 277,487 common shares on EXM and $11,499,218.14, translated to €9,817,831.30, to purchase 34,850 common shares on the NYSE under this tranche.

What are Ferrari’s (RACE) total buybacks since January 5, 2026?

Since January 5, 2026, the start of the multi-year buyback program, Ferrari has repurchased a total of 1,218,103 own common shares on EXM and NYSE. The aggregate consideration for these transactions amounts to €357,491,286.05, including activity such as Sell to Cover transactions.

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