Sergio Marchionne now owns 1 percent stake in Fiat Chrysler Automobiles

Article by Christian A., on November 7, 2014

Fiat Chrysler Automobiles chief executive Sergio Marchionne now has a 1-percent stake in the carmaker and almost doubled is voting stake after exercising his stock options before the Nov. 3 expiration date. He used to have 6.8 million shares for a 0.65 percent stake in FCA. He now has 12.1 million shares for a 1-percent stake.

He also used to have a 0.4 percent voting stake in FCA, but now has a 0.75-percent voting stake, based on a total share capital of 1.6 billion shares, including loyalty shares, as calculated by Reuters. The shares purchase means Marchionne is now FCA’s fifth-largest shareholder, according to data compiled by Bloomberg.

Exor, the Agnelli family's holding company, remains FCA’s largest with 30 percent of common shares and 46.6 percent of the voting rights. Marchionne exercised options due to expire on Nov. 3 for 6.25 million shares and the same number of shares in CNH Industrial for a price of EUR83.6 million ($105 million), according filings made with Dutch market regulator AFM.

He then sold the shares on Oct. 30-31 for EUR94.3 million, allowing him to gain over EUR10 million. Marchionne then increased his stake in the carmaker by exercising his remaining 10.67 million stock options.

He then sold a portion of those "for the sole purpose of funding the strike price and meeting the relevant tax liabilities."

FCA’s share price surged after Marchionne announced a plan to spin off Ferrari, sell a 10-percent stake through a public offering and distribute the rest of FCA's stake in the brand to shareholders. The move is part of a bigger plan to raise funds help trim group debt and finance its five-year business plan.

If you liked the article, share on:

Comments

Recommended

Before the W177 goes on sale in 2018, Mercedes-Benz had to go back to the drawing board to check on the A Class’ interior. This is because the new model...
by - November 24, 2017
If you see the Aston Martin’s 2018 Vantage, you would think that it is significantly different from most of Aston’s GT lineup. For instance, if the DB11 is a fine...
by - November 24, 2017
Even as Chevrolet is making a huge splash in the industry with the recent launch of the new Corvette ZR1, there may be trouble brewing. Chevrolet has announced huge discounts...
by - November 24, 2017
The 2018 GMC Sierra 2500HD has arrived this week at the snowy mountains in Colorado for its winter long debut. GMC’s tracked Sierra Mountain Concept will be on display at...
by - November 24, 2017
We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries