• Subject to Board approval, compliance with applicable securities laws and the Company's trading policies, the Company intends to purchase shares of its common stock in an amount approximately equal to the total value of executive and employee deferred compensation for the March through May period, which is about $500,000 on an after-tax basis.
  • Repurchased shares would be transferred to participating executives and other employees as a settlement of the deferred compensation, increasing their equity ownership in the Company.
  • This initiative reinforces a commitment to the Company's strategic execution, as well as demonstrates the Company's action against potential illegal market manipulation and short selling.