Ferrari (NYSE: RACE) ends first €250M buyback and launches second tranche
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Ferrari N.V. has completed the first tranche of its multi-year share buyback program and is launching a second tranche. The First Tranche covered a Euro 250 million share buyback program, with common shares repurchased on both Euronext Milan and the New York Stock Exchange.
As of April 9, 2026, Ferrari held 17,494,660 common shares in treasury, equal to 9.02% of issued common shares and 9.40% of total issued share capital including special voting shares. The Company plans a Second Tranche of up to Euro 250 million, to run from April 13, 2026 to no later than August 28, 2026, funded from available cash and split between Euro 200 million on EXM under a non-discretionary agreement and up to Euro 50 million on NYSE under a separate mandate.
Positive
- None.
Negative
- None.
Key Figures
First Tranche EXM consideration: Euro 199,999,486.77
First Tranche NYSE consideration: USD 57,884,510.41 (Euro 49,999,734.27)
Treasury shares common: 17,494,660 shares
+5 more
8 metrics
First Tranche EXM consideration
Euro 199,999,486.77
Paid for 680,168 common shares on EXM under the First Tranche
First Tranche NYSE consideration
USD 57,884,510.41 (Euro 49,999,734.27)
Paid for 169,886 common shares on NYSE under the First Tranche
Treasury shares common
17,494,660 shares
Common shares in treasury as of April 9, 2026, 9.02% of issued common shares
Treasury share capital including special voting
9.40%
Treasury holdings as percentage of total issued share capital including special voting shares
Multi-year buyback size
Approximately Euro 3.5 billion
Expected total share buyback through 2030 as presented at 2025 Capital Markets Day
Shares bought since Jan 5, 2026
850,054 shares
Total own common shares purchased on EXM and NYSE from January 5 to April 9, 2026
Consideration since Jan 5, 2026
Euro 249,999,221.05
Total consideration for 850,054 own common shares under the multi-year program
Second Tranche maximum size
Up to Euro 250 million
Planned buyback tranche from April 13, 2026 to no later than August 28, 2026
Key Terms
multi-year share buyback program, treasury shares, non-discretionary buyback agreement, Market Abuse Regulation 596/2014, +2 more
6 terms
non-discretionary buyback agreement financial
"Ferrari has entered into a non-discretionary buyback agreement for up to Euro 200 million"
A non-discretionary buyback agreement is a legally binding promise by a company to repurchase a set amount of its own shares under predefined terms, rather than an optional or ad hoc decision. Think of it like a standing order to buy back stock that will reduce the number of shares outstanding, which can boost per-share metrics and signal support for the share price, but also commits cash and affects the company’s balance sheet and flexibility.
Market Abuse Regulation 596/2014 regulatory
"in accordance with the provisions of the Market Abuse Regulation 596/2014"
Regulation 596/2014, known as the Market Abuse Regulation, is the European rulebook that bans insider trading and market manipulation and requires timely public disclosure of crucial company information. It matters to investors because it helps keep prices fair and trustworthy—like rules that stop players from cheating in a game—by forcing companies and insiders to be transparent and making unlawful trading easier to detect and punish.
Commission Delegated Regulation (EU) 2016/1052 regulatory
"and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”)"
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 April 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 April 10, 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: April 10, 2026 | FERRARI 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 April 10, 2026.
Exhibit 99.1
FERRARI N.V.: COMPLETION OF THE FIRST TRANCHE AND ANNOUNCEMENT OF THE SECOND TRANCHE OF THE MULTI-YEAR SHARE REPURCHASE PROGRAM
Maranello (Italy), April 10, 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 December 16, 2025, as the first 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 “First 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 Date (d/m/y) | Number of common shares purchased | Average price per share excluding fees (€) | Consideration excluding fees (€) | Number of common shares purchased | Average price per share excluding fees ($) | Consideration excluding fees ($) | Consideration excluding fees (€)* | Number of common shares purchased | Average price per share excluding fees (€)* | Consideration excluding fees (€)* | ||||||||||||||||||||||
| 07/04/2026 | 43,175 | 289.1433 | 12,483,761.98 | — | — | — | — | 43,175 | 289.1433 | 12,483,761.98 | ||||||||||||||||||||||
| 08/04/2026 | — | — | — | 18,086 | 353.1771 | 6,387,561.03 | 5,456,655.59 | 18,086 | 301.7060 | 5,456,655.59 | ||||||||||||||||||||||
| Total | 43,175 | 289.1433 | 12,483,761.98 | 18,086 | 353.1771 | 6,387,561.03 | 5,456,655.59 | 61,261 | 292.8522 | 17,940,417.57 | ||||||||||||||||||||||
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
With the purchases described above the Company has completed the First Tranche.
The total consideration for such First Tranche was:
•Euro 199,999,486.77 for No. 680,168 common shares purchased on the EXM
•USD 57,884,510.41 (Euro 49,999,734.27 *) for No. 169,886 common shares purchased on the NYSE.
As of April 9, 2026 the Company held in treasury No. 17,494,660 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 9.02% of the total issued common shares. Including the special voting shares, the Company held in treasury 9.40% of the total issued share capital.
Ferrari N.V. Amsterdam, The Netherlands | Registered Office: Via Abetone Inferiore N. 4, I – 41053 Maranello (MO) Italy | Dutch trade registration number: 64060977 |  | ||||||||
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 April 9, 2026, the Company has purchased a total of 850,054 own common shares on EXM and NYSE for a total consideration of Euro 249,999,221.05.
The Company intends to continue its multi-year share buyback program with a second tranche of up to Euro 250 million (the “Second Tranche”) due to start on April 13, 2026 and expected to end no later than August 28, 2026.
The Second Tranche will be funded through the Company’s available cash, and common shares repurchased under the Second Tranche may be used to meet the obligations arising from the Company’s equity incentive plan.
The Second Tranche has two components.
Firstly, Ferrari has entered into a non-discretionary buyback agreement for up to Euro 200 million to be executed on the EXM market through a primary financial institution (the “Bank”). The Bank will make its trading decisions concerning the timing of the purchases of Ferrari’s common shares independently of and uninfluenced by Ferrari and it will act in compliance with applicable rules and regulations as well as in accordance with the provisions of the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”). Under this agreement purchases may continue during any closed periods of Ferrari in accordance with the Regulations.
Secondly, Ferrari has entered into an additional mandate with a primary financial institution for up to Euro 50 million to be executed on the NYSE. Pursuant to such mandate Ferrari would provide the financial institution with purchase instructions from time to time in compliance with applicable rules, regulations and legal requirements. The actual timing, number and value of common shares repurchased on the NYSE will depend on a number of factors, including market and general business conditions.
The Second Tranche implements the resolution adopted by the Shareholders’ Meeting (held on April 16, 2025) and duly communicated to the market, which authorized the purchase of up to 10% of the Company’s common shares during the eighteen-month period following such Shareholders’ Meeting. The repurchase authority will expire on October 15, 2026, unless extended or renewed before such date.
Details of the repurchase transactions carried out under the Second Tranche will be disclosed to the market as required by applicable regulation.
2
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).
About Ferrari
Ferrari is one of the world’s leading luxury brands, encompassing racing, sports cars and lifestyle. In
each of these three souls, the Prancing Horse is a symbol of exclusivity, innovation and cutting-edge performance. The brand’s heritage and global recognition are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful in the sport’s history. Since the inaugural World Championship in 1950, Scuderia Ferrari has claimed 16 Constructors’ and 15 Drivers’ world titles.
From its home in Maranello, Italy, Ferrari designs, engineers, and produces some of the world’s most iconic and recognisable luxury sports cars, sold in over 60 markets worldwide. In lifestyle, Ferrari designs and creates a selection of personal luxury goods, collectibles and experiences that embody the brand’s elevated style and passion.
Forward Looking Statements
This document contains forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” and similar expressions. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Ferrari Group’s (hereinafter, the “Group”) current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including those described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations of the Group” of the Company’s annual and quarterly reports filed with the U.S. Securities and Exchange Commission, which are available on Ferrari’s website (https://www.ferrari.com/en-EN/corporate). Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB.
For further information:
Media Relations
Email: media@ferrari.com
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FAQ
How much has Ferrari (RACE) spent on buybacks since January 2026?
Since January 5, 2026 through April 9, 2026, Ferrari purchased a total of 850,054 own common shares on EXM and NYSE for total consideration of Euro 249,999,221.05, as part of its multi-year share buyback program disclosed at the 2025 Capital Markets Day.
How is Ferrari’s second buyback tranche structured between EXM and NYSE?
Ferrari’s Second Tranche has two components: a non-discretionary buyback agreement for up to Euro 200 million on Euronext Milan, and an additional mandate with a financial institution for up to Euro 50 million in purchases on the New York Stock Exchange.