The company said it plans to repurchase $275 million of its common stock through open market repurchases under the stock repurchase program of $1.0 billion that its Board of Directors approved in January 2023.

1. 01

   The company said it plans to repurchase $275 million of its common stock through open market repurchases under the stock repurchase program of $1.0 billion that its Board of Directors approved in January 2023.

2. 02

   The open market repurchases will be executed under a Rule 10b5-1 trading plan, the company said, with the timing and number of shares based on an evaluation of market conditions and other factors, including stock price, trading volume, general business and market conditions, and capital availability. It said the repurchases are expected to be completed by the end of January 2025.

3. 03

   The company said it will fund the repurchases with cash on hand. It also disclosed that as of September 30, 2024, it had approximately 74.8 million shares outstanding and $1,041.9 million in cash and cash equivalents.

4. 04

   The company said Chief Financial Officer John Morici stated that the repurchase plan reflects the company's balance sheet strength, cash flow generation, and the continued confidence of management and the board. The company said the plan will allow it to return value to shareholders.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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