Ferrari N.V.: Completion of the Third Tranche of the Multi-Year Share Repurchase Program
Maranello (Italy), October 23, 2023 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 200 million share buyback program announced on June 27, 2023, as the third tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Third Tranche”), the additional common shares - reported in aggregate form, on a daily basis on the New York Stock Exchange (NYSE) as follows:
Trading Date (dd/mm/yyyy) | Stock Exchange | Number of common shares purchased | Average price per share excluding fees ($) | Consideration excluding fees ($) | Consideration excluding fees (€) |
| 18/10/2023 | NYSE | 8,222 | 304.0275 | 2,499,714.11 | 2,366,033.23 |
| 19/10/2023 | NYSE | 9,735 | 302.1467 | 2,941,398.12 | 2,785,942.53 |
Total | - | 17,957 | 303.0079 | 5,441,112.23 | 5,151,975.76 |
(*) 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 Third Tranche of the Program.
The total consideration for such Third Tranche of the Program was:
- Euro 129,999,723.00 for No. 457,570 common shares purchased on the EXM
- USD 75,906,916.58 (Euro 69,999,782.62*) for No. 245,066 common shares purchased on the NYSE.
As of October 20, 2023, the Company held in treasury No. 13,258,742 common shares equal to 5.16% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.
Since the start of the multi-year share buyback program of approximately Euro 2 billion announced during the 2022 Capital Markets Day, on July 1, 2022, until October 20, 2023, the Company has purchased a total of 2,334,284 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 559,196,761.15.
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 ().
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