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Rome, 4 April 2024 - Eni's Board of Directors, chaired by Giuseppe Zafarana, today 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 ("the Plan") and the related funding arrangements, also approving for this purpose the Disclosure Document drafted pursuant to Article 114-bis of Legislative Decree No. 58 of 24 February 1998 ("TUF") and Article 84-bis of the Consob Issuers' Regulations.
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 the 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 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.
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