The company said it established an accelerated share repurchase (ASR) program with JPMorgan Chase Bank, National Association on November 10, 2025 to repurchase $500 million of its common stock.

1. 01

   The company said it established an accelerated share repurchase (ASR) program with JPMorgan Chase Bank, National Association on November 10, 2025 to repurchase $500 million of its common stock.

2. 02

   The company said it is conducting the ASR under a repurchase authorization for a total of 20,000,000 shares approved by its board of directors in August 2023. It said it intends to fund the program with cash on hand.

3. 03

   The company said it will receive about 2,334,010 shares of common stock repurchased under the ASR on November 12, 2025, which it said represents a substantial majority of the shares expected to be retired over the course of the ASR.

4. 04

   The company said the final number of shares to be repurchased will be based on the average of the daily volume weighted average price of its common stock during the ASR term, less a discount, and subject to possible adjustments under the ASR terms. It said it expects final settlement to be completed in Q2 2026, but the ASR may be terminated early in certain circumstances.

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Original filing

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