Capgemini SE, the French multinational IT services and consulting firm, has announced the launch of its twelfth Employee Share Ownership Plan (ESOP), reinforcing its long-standing commitment to employee inclusion in corporate growth.
The plan, unveiled on September 11, 2025, is designed to cover approximately 98% of the company’s global workforce, offering them the opportunity to become shareholders under favorable conditions.
This initiative continues Capgemini’s policy of aligning employee interests with the company’s long-term performance and development.
The ESOP will be implemented through a capital increase reserved for employees, involving up to 2.7 million shares—equivalent to 1.58% of the company’s outstanding share capital.
Capgemini ESOP: Key Dates and Subscription Details
The ESOP will follow a structured timeline:
- Reservation Period: September 12 to October 1, 2025
- Subscription/Revocation Period: November 12 to November 14, 2025
- Subscription Price Announcement: November 6, 2025
- Capital Increase Completion: December 18, 2025
Employees will be able to subscribe to shares through leveraged and guaranteed formulas.
These options are designed to protect participants from potential losses during the non-tradable period of the shares, ensuring financial security while encouraging participation.
Safeguards and Voting Rights
To mitigate risk, Capgemini has structured the offering with hedging mechanisms managed by Crédit Agricole Corporate and Investment Bank.
These include market and off-market transactions such as share purchases, call options, and other financial instruments.
These safeguards will remain in place throughout the plan’s duration, which extends until December 18, 2030.
Various entities will exercise the voting rights associated with the subscribed shares, depending on the subscription formula.
These may include the FCPE (Fonds Commun de Placement d’Entreprise), direct employee shareholders, or the financial institution structuring the offer.
Share Buyback to Offset Dilution
To address potential dilution from the capital increase, Capgemini’s Board of Directors has authorized a dedicated share buyback envelope.
The company announced a separate €2 billion multi-year buyback program in July 2025.
The company may use the new envelope within the next 12 months to neutralize the impact of the ESOP-related capital increase.
Capgemini Sustaining Employee Shareholding Levels
Capgemini launched the twelfth ESOP as the 2020 plan approaches its expiry at the end of this year.
With this new initiative, Capgemini aims to maintain employee shareholding at around 8% of its total share capital.
This level of participation is among the highest in the industry and reflects the company’s belief in shared ownership as a driver of engagement and performance.
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