In a significant corporate move, Ferrari has unveiled plans to extend ownership of the company to all of its employees, both in Italy and abroad.
The company’s recent corporate announcements included the introduction of a share ownership initiative that will grant all employees a one-time allocation of shares at no cost to them.
The value of this grant is set to be as high as 2,065 euros, which roughly translates to $2,240 at the current share price, amounting to approximately 6.3 shares per employee.
To discourage immediate selling of these shares, Ferrari has designed an additional incentive for those who hold onto their shares for a minimum of 36 months. Such employees will be rewarded with an extra allotment of shares, equating to up to 15% of the initial grant’s value.
Ferrari’s stock price has experienced remarkable growth since its initial public offering in 2015, when it was introduced at $52 per share. Today, the share price stands at an impressive $351.68, marking nearly a seven-fold increase in less than a decade.
Employee share ownership programs are recognized for their potential to boost employee motivation and productivity, as they align the interests of employees with those of existing shareholders. This alignment is one of the driving factors behind Ferrari’s decision to launch this program. In an official statement, the company emphasized its commitment to fostering a culture of collective responsibility and increasing employee engagement within the organization.
With a global workforce exceeding 5,000 employees, Ferrari also disclosed plans to expand its team by hiring an additional 250 individuals in the first half of 2024. This initiative not only signifies the company’s dedication to employee involvement but also underscores its commitment to growth and innovation in the automotive market.
Q: What is Ferrari’s new corporate announcement about?
A: Ferrari has revealed a share ownership plan for all its employees, granting them shares in the company free of charge.
A: The share grant’s value can be up to 2,065 euros (approximately $2,240), equivalent to about 6.3 shares per employee.
A: Yes, Ferrari is offering an additional share grant, up to 15% of the initial grant’s value, to employees who retain their shares for at least 36 months.
Q: How has Ferrari’s stock price performed since its IPO in 2015?
A: Ferrari’s stock price has seen remarkable growth, soaring from an initial public offering price of $52 per share to $351.68 today, nearly a seven-fold increase in less than a decade.
A: The program aims to motivate employees, aligning their interests with existing shareholders, and promote a culture of collective responsibility and increased engagement within the company.
Q: How many employees does Ferrari have globally, and are there plans for expansion?
A: Ferrari employs more than 5,000 individuals worldwide and plans to add 250 new hires in the first half of 2024, demonstrating its commitment to both employee involvement and growth in the automotive market.
- Ferrari Official Website
- Ferrari Share Price Information
- Employee Share Ownership Benefits
- Motivation through Employee Ownership