Sanofi Unveils 2025 Global Employee Shareholding Plan, Reinforcing Long-Term Workforce Commitment
Sanofi has officially launched Action 2025, the latest installment of its long-running global employee shareholder program. Opening on June 10, 2025, the initiative offers approximately 70,000 eligible employees across 55 countries the opportunity to invest in the future of the biopharmaceutical company by purchasing company shares at a preferential rate. Now in its 11th year, the plan reflects Sanofi’s continued dedication to fostering employee ownership and shared success.
In 2024, the company saw record participation in the program, with more than 32,000 employees—around 40% of its workforce—choosing to invest in Sanofi shares. As a result, nearly 90,000 current and former Sanofi employees now hold equity in the company, collectively owning about 2.55% of the firm’s capital.
Sanofi’s CEO Paul Hudson emphasized the importance of the program, stating:
“The Board of Directors and I are particularly proud to see the growing participation of our employees in our global employee shareholder plan, a commitment that has endured for more than a decade. This renewed confidence illustrates their active support for our transformation into a leading biopharmaceutical company at a decisive moment in our history.”
Preferential Share Purchase Terms for Employees
Under Action 2025, employees will have the chance to subscribe to Sanofi shares at a price of €72.97—representing a 20% discount from the average of the 20 opening Sanofi share prices recorded on Euronext Paris between May 7 and June 3, 2025. In addition, for every five shares purchased, participants will receive one free matching share, with a cap of four matching shares per employee.
Each eligible employee may subscribe to up to 1,500 shares, subject to legal limitations. Specifically, the total payment amount cannot exceed 25% of the participant’s gross annual salary, excluding any voluntary contributions already made to other employee savings schemes such as the Company Savings Plan (PEE), Group Savings Plan (PEG), or the Group Retirement Savings Plan (PERCO). Voluntary contributions to PERCOL are not considered in this cap.
Key Eligibility and Timeline Information
To qualify for participation, employees must have at least three months of service with Sanofi by the time the offering period closes. The subscription window runs from June 10 to June 30, 2025, and the issuance of shares is scheduled for completion by the end of July 2025.
Sanofi has capped the number of shares available for subscription to 1% of the company’s total share capital as of January 29, 2025, minus shares already issued through a previous employee share offering in July 2024. That earlier offering involved 10,386,831 shares.
The shares subscribed through this program—including both purchased and matching shares—will be fully fungible with Sanofi’s existing ordinary shares and will carry full dividend rights beginning January 1, 2025. Voting rights associated with the shares will also be directly exercised by participating employees.
Depending on their country of residence and relevant regulatory and tax frameworks, employees may hold the shares directly or via intermediary structures such as employee mutual funds (FCPEs). These structures are particularly common in France and other European countries.
Shareholding Period and Exit Conditions
Employees in France who subscribe through the Sanofi Group’s savings plan (PEG) will be required to hold the shares for approximately five years, until May 31, 2030. However, French law does provide for certain exceptions allowing for early release under specific life events, as defined in Article R. 3324-22 of the French Labour Code.
For participants outside France, particularly those subscribing via the International Group Shareholding Plan (IGSP), the required holding period may be shorter—typically three years, until May 31, 2028. The exact duration will depend on the applicable legal and tax regulations in the subscriber’s country.
Market Admission and Regulatory Notes
The newly issued shares will be admitted for trading on Euronext Paris (ISIN: FR0000120578) and will be listed alongside Sanofi’s existing shares as soon as practicable following the capital increase.
It’s important to note that this offering is not a public solicitation or invitation to invest in Sanofi shares in any jurisdiction. Rather, it is a private offering restricted to eligible employees, compliant with national regulations in each participating country. In many cases, the offer is made under regulatory exemptions that waive the requirement to file a full prospectus.
This employee share offering will only be made in jurisdictions where all necessary registrations, notifications, approvals, and employee consultations have been completed. This ensures compliance with local laws and safeguards employee interests.
Currently, the offering is not available in countries such as Japan, Morocco, and the Philippines, where regulatory clearance is still pending. Additional countries could also be excluded if necessary legal and procedural requirements are not fulfilled in time.
Regulatory Basis of the Offering
The announcement has been issued in accordance with Article 1 4°i) and 5°h) of the EU Prospectus Regulation (2017/1129). It serves as the formal communication required to meet the criteria for exemption from the publication of a full prospectus. As such, it fulfills Sanofi’s regulatory obligation to inform eligible participants without constituting a broader public offering.
Sanofi’s Action 2025 program exemplifies a corporate philosophy that aligns company performance with employee involvement. At a time when Sanofi is evolving rapidly to become a global leader in biopharmaceutical innovation, this initiative seeks to ensure that employees are not only stakeholders in spirit but shareholders in practice. With over a decade of sustained engagement and nearly 90,000 employee shareholders to date, the program continues to be a core element of Sanofi’s strategy to build long-term trust, commitment, and shared success within its global workforce.
