This agreement will cover a maximum amount of up to €1 billion (of the €3 billion Share Buyback Program). The third tranche of the Program shall start on August 1, 2024, and end no later than November 29, 2024.
The Company intends to cancel the common shares acquired through its €3 billion Share Buyback Program apart from a portion of up to €0.5 billion, which will be utilized to execute future employee stock purchase plan activities and equity-based compensation. This is intended to support the benefits of expanding and strengthening the ownership culture inside Stellantis, while avoiding dilution of existing shareholders.
The buyback of common shares in relation to this announcement will be carried out under the authority granted by the general meeting of shareholders held on April 16, 2024, up to a maximum of 10% of the Company’s capital, or any renewed or extended authorization to be granted at a future general meeting of the Company. The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris (as the case may be). The market price will be calculated as the average of the highest price on each of the five days of trading prior to the date on which the acquisition is made, as shown in the official price list of the NYSE, Euronext Milan or Euronext Paris. The share buybacks will be carried out subject to market conditions and in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.
As of today, the remaining authorization stands at approximately 246 million shares and the Company held in treasury a total of 81,500,174 common shares equal to 2.10% of the total issued share capital including common shares and special voting shares.
