Members of the Ferrari (NYSE:RACE) family are permitted to sell up to 5% of their holding in the luxury carmaker without invalidating an existing shareholder agreement, according to a report by Italian daily Il Sole 24 Ore.
Citing documents linked to a newly updated pact between key Ferrari shareholders Exor and Piero Ferrari, the newspaper said the arrangements also allow Piero Ferrari to withdraw from the agreement “at his discretion.”
The clarification follows a transaction earlier in 2025 in which the Agnelli family’s investment vehicle Exor sold roughly 4% of its stake in Ferrari, fuelling market speculation around future ownership moves. Details of the revised agreement shed light on the degree of flexibility now available to Ferrari’s core shareholders and suggest that further changes to the ownership structure of the iconic Italian sports car manufacturer could be possible over time.