Sanofi launches its new global employee share ownership plan

On 07 June 2021 the French multinational pharmaceutical company announced the launch of Action 2021 – its new global employee share ownership plan, which is open to 92,000 employees in 73 countries where all necessary authorisations have been secured. “The record level of employee participation in last year’s share plan demonstrated our employee’s commitment to the company and our long-term strategy and growth. With the continued support of the Board of Directors, we want our employees to have these opportunities to be increasingly involved in Sanofi’s success by sharing in its performance,” said Paul Hudson, Chief Executive Officer of Sanofi in a statement. Each employee will be able to subscribe for up to 1,500 company shares (costing €69.38 each) within the legal limit of a maximum payment amount that does not exceed 25% of gross annual salary, minus any voluntary deductions already made under employee savings during 2021. Finally, for every five shares subscribed, employees will be offered one additional free share up to a limit of four free shares each. To qualify for the scheme, employees must have been with the company for three months by the closing date of the subscription period, i.e. 25 June 2021 (inclusive). Today, nearly 90,000 employees and former employees are direct or indirect shareholders of Sanofi and hold approximately 2.8% of its capital.