Eni Board to submit Employee Stock Ownership proposal at Shareholder meeting on May 15
Eni’s Board of Directors has resolved to submit a proposal to the Shareholders’ Meeting of 15 May 2024 to authorize the adoption of an Employee Stock Ownership Plan 2024-2026 and the related funding arrangements.
The Plan will initially be implemented for employees in Italy and then gradually extended to foreign subsidiaries, consistent with local legislation, with the aim of strengthening the sense of belonging across the company and participation in the growth of corporate value, in line with the interests of the shareholders.
The Plan permits two annual grants (in 2024 and 2025) of free shares with an annual individual monetary value
of 2,000 euros.
A 3-year lock-up period applies to each grant, during which the employee must not dispose of the
shares. In 2026, a co-investment model will be implemented whereby, upon the employee’s purchase of shares, free shares will be granted equal to 50% of the shares purchased, up to a maximum value of 1,000 euros.
A lock-up period of 1 year will be applied to the shares purchased by the employee and a lock-up period of 3 years to the free shares granted.
Executives participating in the existing Long-Term Incentive Share-based Plan will be symbolically granted 1 share.
Eni says it values human capital as a fundamental part of its transformation and evolution path and this initiative
complements the extraordinary intervention plan that Eni launched in October 2023 to support the group’s more than 20,000 employees in Italy during the economic downturn.
