Ferrari N.v.: Periodic Report on the Buyback Program
March 20, 2023 at 12:17 PM EDT
(Italy), March 20, 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 December 1, 2022, as the second 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 “Second Tranche”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) and on the New York Stock Exchange (NYSE) as follows:
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of such Second Tranche till March 17, 2023, the total invested consideration has been:
On March 15, 2023, in the Ferrari Group employees’ granting share process, the Company assigned No. 80,305 common shares held in treasury. On the same day Ferrari purchased, in a “cross order” transaction executed on the EXM, No. 34,671 common shares in order to cover individual's taxable income as standard practice (Sell to Cover) at the average price of Euro 243.6708 per share.
Since July 1, 2022 until March 17, 2023, the Company has purchased a total of 1,274,076 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 264,748,387.14.
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 (https://www.ferrari.com/en-EN/corporate/buyback-programs).
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