Monthly Archives: May 2023

Heightened Share Repurchase Disclosure Adopted by SEC

Key Takeaways:

  • The SEC adopted final rules that seek to modernize and improve disclosures related to stock buyback programs. The enhanced disclosure will require domestic issuers to:
    • Disclose aggregate daily quantitative repurchase data on a quarterly basis;
    • Indicate if certain directors or officers traded in the relevant securities within four business days of the public announcement of an issuer’s repurchase plan;
    • Provide narrative disclosure regarding (i) the issuer’s objectives or rationales for its share repurchases and (ii) any policies and procedures relating to purchases and sales of the issuer’s securities;…
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