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Stellantis announces first employee share purchase plan

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Stellantis recently announced its first employee share purchase plan, called the “Shares to Win” program. 

Shares to Win is an incentive program enabling Stellantis employees to become shareholders of the legacy automaker on preferential terms, listed below.

  • No minimum subscription in France, and from one share subscribed in Italy
  • 20% discount on the reference share price
  • A contribution of 100% of the employee’s personal contribution, up to €1,000 gross

Stellantis has already executed the incentive program among 85,000 employees in France and Italy. 

“The success of this step of Shares to Win in Italy and France demonstrates our employees’ confidence in the sustainable future of our Company supported by the execution of our Dare Forward 2030 strategic plan, which maps out the path to achieving carbon net zero by 2038 and creating value for all our stakeholders,” said Xavier Chéreau, Chief HR & Transformation Officer.

On November 10, the subscription price of the program was set to €14.52 in France and Italy. Stellantis notes that the reference share price equals “the average closing price of Stellantis shares in the Milano stock exchange between October 12 and November 8, 2023.” 

Between November 13 and November 30, the Shares to Win program garnered a total investment of about €65 million, consisting of €47 million from individual investments and €18 million matched by the company. The initial launch of the program in Italy and France resulted in around 4.4 million additional shares held by employees. 

“Initiated in France and Italy, our ambition is to ensure that as many of our valuable employees as possible can also become Stellantis shareholders in the near future. This demonstrates our commitment to collective success and the sharing of value creation while fostering cohesion and pride in belonging to Stellantis,” added Chéreau.

The legacy automaker expects to expand the program to 242,000 eligible employees in 18 more countries by 2024. The extended program will have equivalent incentive guiding principles. In 2025, Stellantis plans to extend the Shares to Win program to all countries in which it has operations.

The Teslarati team would appreciate hearing from you. If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101.

Stellantis announces first employee share purchase plan





This article was originally published by Teslarati.com. Read the original article here.
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