Petar Milošević
The press release highlighted that Eni is among the first companies in Italy to introduce such a large-scale plan.
The program for 2024 and 2025 included two annual grants of free shares, each worth €2,000 annually. Each grant was subject to a three-year lock-up period, during which the shares could not be sold.
In 2026, the plan will be revised and introduced with co-investment. Under the new plan, employees will receive free shares equal to 50% of those they have already acquired, up to a maximum value of €1,000. This is in exchange for the employee purchasing additional shares. The new 2026 plan will have a lock-up period of one year.
Eni stated that the ESOP complements the emergency plan introduced in October 2023 to support more than 20,000 employees in Italy during a difficult economic period.
The company explained that falling demand across all business areas, driven by high energy costs, led to a sharp decline in energy prices. The average selling price of oil dropped to $82.62 per barrel, compared to $101.19 per barrel the previous year. Gas prices also fell by approximately tenfold.
As previously reported, in the fall of 2023, Eni launched an emergency plan worth €85 million to support non-executive employees.
source: ft.com
The program for 2024 and 2025 included two annual grants of free shares, each worth €2,000 annually. Each grant was subject to a three-year lock-up period, during which the shares could not be sold.
In 2026, the plan will be revised and introduced with co-investment. Under the new plan, employees will receive free shares equal to 50% of those they have already acquired, up to a maximum value of €1,000. This is in exchange for the employee purchasing additional shares. The new 2026 plan will have a lock-up period of one year.
Eni stated that the ESOP complements the emergency plan introduced in October 2023 to support more than 20,000 employees in Italy during a difficult economic period.
The company explained that falling demand across all business areas, driven by high energy costs, led to a sharp decline in energy prices. The average selling price of oil dropped to $82.62 per barrel, compared to $101.19 per barrel the previous year. Gas prices also fell by approximately tenfold.
As previously reported, in the fall of 2023, Eni launched an emergency plan worth €85 million to support non-executive employees.
source: ft.com