Summary
Curtiss-Wright Corporation (CW) announced on September 11, 2024, the adoption of a written trading plan under Rule 10b5-1 to facilitate its previously announced share repurchase programs. This plan, which is effective from September 11, 2024, through December 31, 2024, will involve the repurchase of up to $100 million of the Company's common stock. Purchases will be made in accordance with Rule 10b-18 limitations on any given purchase day.
Key Highlights
- 1Curtiss-Wright adopted a Rule 10b5-1 trading plan for share repurchases.
- 2The trading plan is valued at $100 million.
- 3The plan will be in effect from September 11, 2024, to December 31, 2024.
- 4Share repurchases will adhere to Rule 10b-18 daily volume limitations.
- 5This plan is part of a larger, previously authorized $400 million share repurchase program.
- 6Following this plan, $300 million in repurchase authorization is expected to remain for 2025.
- 7The Company may implement future 10b5-1 plans to continue its repurchase strategy.
Frequently Asked Questions
The main purpose of this filing is to inform investors that Curtiss-Wright has adopted a Rule 10b5-1 trading plan to execute a portion of its authorized share repurchase program. This plan allows the company to buy back its stock during periods when it might otherwise be restricted from trading.
Under this specific Rule 10b5-1 trading plan, Curtiss-Wright intends to repurchase up to $100 million of its common stock.
The trading plan is effective from September 11, 2024, and will conclude on December 31, 2024. The specific timing and volume of purchases on any given day will be managed by a selected broker within the limits set by Rule 10b-18.
No, this $100 million plan represents a portion of a larger, previously authorized $400 million share repurchase program. Upon completion of this plan, the Company expects to have approximately $300 million remaining under its existing authorization as it enters 2025, indicating potential for further repurchases.