Michelin Launches BIB'Action 2026 Employee Share Ownership Plan

Michelin, a global leader in the tire industry, has announced the launch of a new employee share ownership plan, "BIB'Action 2026," aimed at fostering commitment and value sharing among its workforce. The program is open to around 114,000 eligible active employees spread across 44 countries.

Since 2002, Michelin has been actively engaging its employees as shareholders, with nearly 65% of its workforce now holding shares in the company. This initiative is seen as a significant milestone, reflecting both the company's confidence in its employees and their active contribution to the group's success.

Florent Menegaux, the Chief Executive Officer of the Michelin Group, emphasized the importance of employee engagement and ownership. "Today, nearly 65% of our employees are shareholders," Menegaux stated. "This is both excellent news and a strong sign of confidence and engagement. Employee shareholders are both actively contributing to the Group's performance and benefiting from the value created."

The subscription period for the BIB'Action 2026 plan runs from September 9 to September 24, 2026. During this period, employees can subscribe to purchase Michelin shares directly. The subscription price is set at €24.26, which is 70% of the reference price, the average of the opening prices of Michelin shares on Euronext Paris over the 20 trading days preceding the date the subscription price was set, minus a 30% discount.

Michelin's plan includes a generous contribution from the company for employees who subscribe. For every share an employee subscribes to, the Group will contribute one free share. However, the contribution rate decreases as the number of shares subscribed increases. Specifically, the Group will contribute one free share for every five shares subscribed if the employee subscribes to between six and 55 shares. For subscriptions exceeding 55 shares, the free share contribution ceases, but the 30% discount remains applicable.

Each employee may acquire up to 2,000 Michelin shares under this plan, subject to local regulatory limits. Employees who subscribe to the 2026 BIB'Action plan will be eligible to exercise their voting rights at the Shareholders Meeting to be held in May 2027 and will receive the 2026 dividend as approved by the said meeting.

The plan also includes a five-year lock-up period for the new shares, which will begin on the date of the rights issue. This period ensures that employees hold their shares until October 27, 2031, except in cases where early release is permitted by the French Labor Code and accepted by the subscriber's country.

Michelin's commitment to its employees and their integration into the company's success is evident in the BIB'Action 2026 plan. The program not only aims to align employees' interests with those of the company but also fosters a sense of ownership and collective responsibility. With the launch of this new share ownership plan, Michelin continues to prioritize the well-being and engagement of its global workforce.