Item 8.01. Other Events.
On
As of
This increase in authorization is expected to bridge the Company to its fourth quarter earnings call during which the Company plans to further discuss its future capital return strategy.
The timing and amount of any shares repurchased will be determined by the Company based on its evaluation of market conditions and other factors and will be made in accordance with applicable securities laws through open market purchases, block trades and/or privately negotiated transactions or pursuant to a Rule 10b5-1 trading plan. The Company is not obligated to purchase any shares under the program, and the program may be suspended or discontinued at any time. The actual timing, number and share price of shares repurchased will depend on several factors, including the market price of the Company's stock, general market and economic conditions, and applicable legal requirements. The share repurchase program is expected to be funded by cash on hand and future cash generated from on-going operations.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this report may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical facts contained in this release
are forward-looking statements. You should not place undue reliance on any
forward-looking statements contained in this report. For a discussion of some of
the risks and important factors that could affect such forward-looking
statements, see the sections entitled "Risk Factors" in the Company's Annual
Report on Form 10-K for the fiscal year ended
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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