Michelin: employee share ownership plan launched at €24.26, a 30% discount
The Clermont-based group has opened a new employee share ownership plan targeting approximately 114,000 employees across 44 countries, continuing the plans it has regularly offered since 2002. The subscription is based on a discount and a bonus allocation of free shares.
Subscription from September 9 to 24, at 70% of the reference price
Compagnie Générale des Établissements Michelin announced on September 7, 2026 the launch of its new employee share ownership plan, named BIB'Action 2026. The scheme is aimed at approximately 114,000 eligible active employees spread across 44 countries. According to Florent Menegaux, Chief Executive Officer of the group, approximately 65% of employees are currently shareholders. The subscription period runs from September 9 to 24, 2026 inclusive, according to Central European Summer Time. The subscription price has been set at €24.26, or 70% of the reference price (average of the opening prices of Michelin shares on Euronext Paris over the 20 trading sessions preceding the price fixing), corresponding to a 30% discount.
Bonus allocation, cap and five-year lock-up period
The bonus allocation provides for one free share for each share subscribed from 1 to 5 securities, then one free share for every five shares subscribed from 6 to 55 securities. Beyond 55 shares, no additional free shares are allocated, with the 30% discount being maintained. Each employee may acquire up to 2,000 Michelin shares under the plan, except where local regulations are more restrictive. The operation takes the form of a capital increase reserved for employees, authorized by the general meeting of May 22, 2026 (24th resolution), covering a maximum of 6,800,000 shares. The securities are subject to a five-year lock-up period from the date of the capital increase, except in cases of early release provided for by the French Labor Code. The capital increase is scheduled for October 27, 2026, the date on which the new shares are to be admitted to trading on Euronext Paris. Subscribing employees will be able to exercise their voting rights at the May 2027 general meeting and will receive the 2026 dividend as approved by that meeting. The group specified that the plan is offered subject to obtaining the necessary authorizations from the local authorities.
