Sanofi Launches Action 2024: Global Employee Shareholder Plan
Sanofi’s global employee shareholder plan, Action 2024, opens on June 4, 2024, offering approximately 80,000 employees across 56 countries the opportunity to participate. Now in its 10th year, this program underscores Sanofi’s and its Board of Directors’ commitment to ensuring employees benefit from the company’s growth and success.
Paul Hudson, Chief Executive Officer of Sanofi, stated, “This plan underscores our ongoing commitment to unite the people of Sanofi behind our long-term growth, with the opportunity to have a share in our collective company performance as we break new ground with innovative medicines and vaccines. The Board of Directors and I are proud of the continued increase in participation over the past decade, a clear reflection of our employees’ confidence in the transformation we are undertaking to become a modern healthcare company.”
From June 4 to June 24, 2024, employees can subscribe to shares at a price of 72.87€, a 20% discount on the average opening prices of Sanofi shares from May 2 to May 29, 2024. For every five shares subscribed, employees will receive one free matching share, up to a maximum of four matching shares per employee. Eligible employees may purchase up to 1,500 Sanofi shares, with the total purchase amount not exceeding 25% of their gross annual salary, minus any voluntary deductions under employee savings schemes in 2024.
In 2023, over 33,100 Sanofi employees (39.4%) invested in the company through this program. Currently, nearly 75,000 current or former Sanofi employees are shareholders, collectively holding about 2.58% of the company’s capital.
Detailed Conditions:
- Eligibility requires three months of employment by the closing date of the offer period.
- Subscription period: June 4, 2024, to June 24, 2024.
- Expected completion and delivery of securities by the end of July 2024.
- Maximum of 12.6 million shares may be issued, corresponding to a capital increase of €25,295,998 at nominal value (1% of share capital as of the Board of Directors’ meeting date deciding the capital increase).
- Shares will be subscribed (or delivered) directly or via employee mutual funds (FCPE), depending on local regulations and tax regimes.
- Shares will be fully fungible with existing ordinary shares and acquire dividend rights from January 1, 2024.
- Voting rights for subscribed shares will be exercised directly by employees.
- In France, shares and FCPE units within the Sanofi Group savings plan (PEG) must be held until May 31, 2029, unless an early release event occurs. For shares subscribed outside France within the Sanofi International Group Shareholding Plan (IGSP), the holding period could be shortened to three years, until May 31, 2027, depending on local legal and tax implications.
- Shares will be admitted to trading on the Euronext Paris market (ISIN Code: FR0000120578) as soon as possible after the capital increase is completed.
This press release does not constitute an offer to sell or a solicitation to buy Sanofi shares. The offer will only be made in countries where all required registration, notification, consultation, and information procedures have been completed, and approvals obtained. This release is prepared under the exemption from publication of a prospectus according to Article 1 4°i) and 5°h) of the Prospectus Regulation (EU) 2017/1129 and meets the conditions for exemption from publication as defined by the Prospectus Regulation.
