Ferrari completes €250M buyback tranche, launches third

Ferrari N.V. (NYSE/EXM: RACE) has completed the second tranche of its multi-year share repurchase program and announced a third tranche of up to €250 million, according to a company statement dated September 1, 2026.

The second tranche, which began following an April 10, 2026 announcement, involved the purchase of 655,884 common shares on Euronext Milan for €199,999,777.22 and 159,855 common shares on the New York Stock Exchange for $58,001,993.62 (approximately €49,999,442.96).

As of August 28, 2026, Ferrari held 1,590,804 common shares in treasury, net of shares assigned under its equity incentive plan, representing 0.90% of total issued common shares, or 0.68% of total issued share capital including special voting shares.

Since the multi-year program began on January 5, 2026, Ferrari has purchased a total of 1,701,184 own common shares on both exchanges for a total consideration of €510,757,305.21. The overall program targets approximately €3.5 billion in repurchases by 2030, as disclosed during the company's 2025 Capital Markets Day.

The third tranche is set to begin September 2, 2026 and is expected to conclude no later than December 16, 2026. It consists of two components: a non-discretionary buyback agreement of up to €200 million to be executed on Euronext Milan through a primary financial institution, and an additional mandate of up to €50 million to be executed on the NYSE.

The third tranche will be funded through available cash. Shares repurchased under the second tranche may be used to satisfy obligations under Ferrari's equity incentive plan.

The repurchase authority was approved at a shareholders' meeting held April 15, 2026, permitting the purchase of up to 10% of common shares over an 18-month period. That authority expires October 14, 2027, unless extended or renewed.

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