Initiative helps employees 'build a greater sense of ownership and belonging,' says exec
Stellantis has announced the expansion of its "Shares to Win" employee share purchase plan, now available to nearly its entire global workforce.
The initiative, which was initially launched in late 2023 in France and Italy, will be open for subscription in 18 countries, covering over 230,000 employees.
The second wave of "Shares to Win" allows eligible employees to subscribe between November 5 and November 14, 2024. Stellantis aims to offer up to 14 million shares during this subscription period.
The programme enables employees to purchase shares on preferential terms, including a 20% discount on the reference share price, determined by the average closing price of Stellantis shares on the Milan stock exchange from September 30 to October 25, 2024.
Employees can invest with no minimum subscription amount, or from a single share depending on the country. Additionally, the company will provide a matching contribution of 100% on the personal amount invested, up to €1,000, or $1,000 for employees in the US.
"We believe that when our colleagues, who work to build the business, become shareholders, both our employees and the business thrive," said Xavier Chéreau, Stellantis Chief HR & Transformation Officer, in a statement.
"Our share purchase programme helps employees build a greater sense of ownership and belonging and demonstrates Stellantis' commitment to sharing its performance with employees."
The expansion follows the success of the initial phase, in which 22% of eligible employees participated, subscribing to 4.4 million shares.
Stellantis reported that employees currently hold 1.8% of its capital. Through the expansion of the "Shares to Win" programme, the company aims to increase employee ownership to five per cent over the next few years.
