Astronics Corporation has released details of the Board of Directors’ approval of their new share repurchase program, authorizing the Company to repurchase in the aggregate up to US$50 million of its outstanding common stock. This follows the completion of the US$50 million share repurchase program approved by the Board in December 2017.
This program has no time limit and may be discontinued at any time at the Company’s discretion. Purchases by Astronics under this program will be made using a new 10b5-1 plan which the Company has adopted to facilitate the purchase of shares during periods when it may otherwise be prevented from acting due to securities laws and self-imposed blackout periods. Effective September 13, 2019, repurchases made under the plan are subject to Securities and Exchange Commission regulations, as well as certain price, market, volume, and timing considerations specified in the plan.
Since repurchases under the plan are subject to such constraints, there is no guarantee as to the exact number of shares, if any, that will be repurchased under the plan.
Email Post to a Friend