AI English summary of an SEC filing — figures as filed
Fifth Third Bancorp FITBThe company said it entered into an accelerated share repurchase agreement with Citibank, N.A. on July 22, 2024 to buy about $200 million of its common stock.
Key points
AI summaryThe company said it entered into an accelerated share repurchase agreement with Citibank, N.A. on July 22, 2024 to buy about $200 million of its common stock.
Fifth Third said it was notified by Citi on August 2, 2024 that Citi had finished purchasing shares under the agreement dated July 22. 4,160,548 shares were repurchased when the agreement was executed, and 713,340 more shares were repurchased upon final settlement on August 5, 2024.
The company said it repurchased a total of 4,873,888 shares under the agreement dated July 22, at an average price of $41.035 per share.
The company said that, after completion of the agreement, it has approximately 23.7 million shares of remaining repurchase authority under its 100 million-share repurchase program announced in June 2019.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Fifth Third enters accelerated share repurchase with Citi
The company said it entered into an accelerated share repurchase agreement with Citibank, N.A. on July 22, 2024 to buy about $200 million of its common stock.
Source · Based on the filing body and exhibits
Citi notifies Fifth Third of completed purchases
Fifth Third said it was notified by Citi on August 2, 2024 that Citi had finished purchasing shares under the agreement dated July 22. 4,160,548 shares were repurchased when the agreement was executed, and 713,340 more shares were repurchased upon final settlement on August 5, 2024.
Source · Based on the filing body and exhibits
Total shares repurchased and average price
The company said it repurchased a total of 4,873,888 shares under the agreement dated July 22, at an average price of $41.035 per share.
Source · Based on the filing body and exhibits
Remaining repurchase authority under existing program
The company said that, after completion of the agreement, it has approximately 23.7 million shares of remaining repurchase authority under its 100 million-share repurchase program announced in June 2019.
Source · Based on the filing body and exhibits
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
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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