Stellantis launches third tranche of share buyback program

Stellantis announced that pursuant to its share buyback program announced on February 15, covering up to EUR 3B to be executed in the open market, Stellantis has signed a share buyback agreement for the third tranche of its program with an investment firm that will make its trading decisions concerning the timing of purchases independently of Stellantis. This agreement will cover a maximum amount of up to EUR 1B. The third tranche of the program shall start on August 1 and end no later than November 29. The company intends to cancel the common shares acquired through its EUR 3B share buyback program apart from a portion of up to EUR 0.5B, which will be utilized to execute future employee stock purchase plan activities and equity-based compensation. 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, 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.