[SCHEDULE 13G/A] Sanofi American SEC Filing

Rhea-AI Filing Summary

Amundi and Amundi Asset Management report beneficial ownership of 61,769,803 shares of Sanofi (common stock and ADRs), representing 5.03% of the class. The filing shows no sole voting or dispositive power and records shared voting power of 29,534,426 shares and shared dispositive power of 61,769,803 shares.

The filing discloses that 26,790,332 shares are held through an employee FCPE on which Amundi does not exercise voting rights; those voting rights are exercised by the FCPE supervisory board where employee representatives hold the majority. The reporting persons are organized in France and filed this Schedule 13G/A under the Securities Exchange Act.

Positive

• Beneficial ownership of 61,769,803 shares, representing 5.03% of Sanofi's class of common stock and ADRs
• Shared dispositive power over 61,769,803 shares, reflecting economic control of the reported stake
• Certification that shares were acquired and are held in the ordinary course of business (Item 10)

Negative

• No sole voting power or sole dispositive power (both reported as 0), limiting unilateral influence
• 26,790,332 shares are held through an FCPE on which Amundi does not exercise voting rights
• Shared voting power of 29,534,426 may limit direct governance control despite the >5% economic stake

Insights

Securities Analyst

TL;DR: Amundi discloses a 5.03% beneficial stake in Sanofi with shared voting and dispositive authority, a routine institutional disclosure.

The Schedule 13G/A confirms Amundi and Amundi Asset Management beneficially own 61,769,803 Sanofi shares, equal to 5.03% of the class. The report specifies 0 sole voting/dispositive powers and 29,534,426 shared voting votes, indicating holdings are primarily managed jointly or on behalf of clients. The statement in Item 10 affirms the securities were acquired and are held in the ordinary course of business, reducing concerns about an intent to influence control. This is a material disclosure under SEC rules but appears to be a routine passive holding.

Corporate Governance Expert

TL;DR: Ownership exceeds the 5% reporting threshold but governance control appears limited due to no sole voting power and FCPE-held shares.

The filing highlights governance nuances: Amundi lacks sole voting or dispositive power and explicitly does not exercise voting on 26,790,332 FCPE-held shares; those votes rest with the FCPE supervisory board where employee representatives hold the majority. Shared voting power of 29,534,426 suggests the firm can influence outcomes only collaboratively or through fiduciary arrangements. For governance analysis, this is informative about voting influence and control limitations despite a >5% economic stake.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 8)

SANOFI

(Name of Issuer)

Common Stock and American Depositary Receipts

(Title of Class of Securities)

80105N105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 80105N105

1

Names of Reporting Persons

AMUNDI

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 29,534,426.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 61,769,803.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

61,769,803.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.03 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: Amundi does not have voting rights on 26,790,332 shares which are held through a FCPE (Fonds Commun de Placement d'Enterprise, an investment vehicle established under French law), solely dedicated to Sanofi group's employees shareholding. Employees of Sanofi are granted the right to participate in stock purchase plans in which the shares acquired are exclusively held in this FCPE, created at the request of Sanofi. The voting rights associated to these shares are exercised by the supervisory Board of the FCPE, where representatives of the employees have the majority (if any remaining seats of the supervisory board are designated by Sanofi), and not by Amundi.

SCHEDULE 13G

CUSIP No. 80105N105

1

Names of Reporting Persons

AMUNDI ASSET MANAGEMENT

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 29,534,426.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 61,769,803.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

61,769,803.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.03 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: Amundi does not have voting rights on 26,790,332 shares which are held through a FCPE (Fonds Commun de Placement d'Enterprise, an investment vehicle established under French law), solely dedicated to Sanofi group's employees shareholding. Employees of Sanofi are granted the right to participate in stock purchase plans in which the shares acquired are exclusively held in this FCPE, created at the request of Sanofi. The voting rights associated to these shares are exercised by the supervisory Board of the FCPE, where representatives of the employees have the majority (if any remaining seats of the supervisory board are designated by Sanofi), and not by Amundi.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SANOFI
(b)	Address of issuer's principal executive offices: 46 avenue de la Grande Armee, 75017 Paris
Item 2.
(a)	Name of person filing: Amundi Amundi Asset Management
(b)	Address or principal business office or, if none, residence: Amundi: 91-93 boulevard Pasteur, 75015 Paris, France Amundi Asset Management: 91-93 boulevard Pasteur, 75015 Paris, France
(c)	Citizenship: Both Amundi and Amundi Asset Management are organized under the laws of the Republic of France.
(d)	Title of class of securities: Common Stock and American Depositary Receipts
(e)	CUSIP No.: 80105N105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 61,769,803
(b)	Percent of class: 5.03%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 29,534,426
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 61,769,803
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Amundi Asset Management AMUNDI AUSTRIA GMBH Amundi Czech Republic Asset Management AS AMUNDI DEUTSCHLAND GMBH AMUNDI IRELAND LIMITED Amundi Japan Ltd. Amundi SGR S.p.A. BFT INVESTMENT MANAGERS CPR Asset Management KBI Global Investors (North America) Ltd KBI Global Investors Ltd SOCIETE GENERALE GESTION Sabadell Asset Management, S.A S.G.I.I.C
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AMUNDI

Signature:	John M. Malone
Name/Title:	John M. Malone | Chief Compliance Officer | Power of Attorney
Date:	08/13/2025

AMUNDI ASSET MANAGEMENT

Signature:	John M. Malone
Name/Title:	John M. Malone | Chief Compliance Officer | Power of Attorney
Date:	08/13/2025

FAQ

What stake does Amundi report in Sanofi (SNY)?

Amundi and Amundi Asset Management report beneficial ownership of 61,769,803 Sanofi shares, equal to 5.03% of the class.

How much voting power does Amundi have on Sanofi shares?

Amundi reports 0 shares with sole voting power and 29,534,426 shares with shared voting power.

Does Amundi control all the votes for the shares it holds?

No. The filing states Amundi does not have voting rights on 26,790,332 shares held through an employee FCPE; those votes are exercised by the FCPE supervisory board.

Under which SEC rule was this Schedule 13G/A filed?

The filing indicates it is made under the Schedule 13G framework; the cover lists Rule 13d-1(b)/(c)/(d) checkboxes and is presented as a Schedule 13G/A.

When was the report signed and by whom?

The Schedule is signed by John M. Malone, Chief Compliance Officer (Power of Attorney), dated 08/13/2025.