Ferrari Completes Second Tranche of €250 Million Share Repurchase Program
MARANELLO, Italy – Ferrari N.V. (NYSE/EXM: RACE), the iconic Italian luxury automaker, has completed the second tranche of its multi-year share repurchase program, a significant move aimed at enhancing shareholder value. The company has spent approximately €250 million on the second tranche, which is part of a broader €3.5 billion program expected to run through 2030. This latest phase brings the total number of shares repurchased to 1,701,184, representing 0.90% of the company’s then-total issued common shares.
According to the company, the second tranche involved the purchase of 655,884 common shares on the Euronext Milan (EXM) and 159,855 common shares on the New York Stock Exchange (NYSE) as of August 28, 2026. The total cost for these shares was €199,999,777.22 on the EXM and USD 58,001,993.62 (equivalent to €49,999,442.96) on the NYSE.
Ferrari’s share buyback program is a strategic initiative aimed at optimizing capital allocation and returning value to shareholders. Since January 5, 2026, the company has repurchased a total of 1,701,184 shares on both exchanges, with a total consideration of €510,757,305.21, including transactions for sell-to-cover.
The company is now set to begin the third tranche of its share repurchase program, which is expected to run from September 2, 2026, to December 16, 2026. The third tranche, worth up to €250 million, will be executed in two parts. The first component involves a non-discretionary buyback agreement with a primary financial institution for up to €200 million on the EXM. The bank will make its own independent decisions regarding the timing and quantity of purchases. The second component allows Ferrari to enter into an additional mandate with a financial institution for up to €50 million on the NYSE, with purchase instructions provided by Ferrari.
Ferrari’s third tranche is part of a resolution adopted by the Shareholders’ Meeting held on April 15, 2026, which authorized the repurchase of up to 10% of the company’s common shares over an 18-month period. The repurchase authority will expire on October 14, 2027, unless extended or renewed before that date.
Details of the repurchase transactions under the buyback programs can be found on Ferrari’s corporate website under the Buyback Programs section.
Ferrari N.V. remains committed to its vision of being a leading luxury brand, encompassing racing, sports cars, and lifestyle. With a strong track record in Formula 1 and a portfolio of iconic sports cars, Ferrari continues to innovate and set new standards in the luxury automotive industry.