Summary
Entegris, Inc. (ENTG) announced on November 22, 2011, the establishment of a pre-arranged stock trading plan designed to repurchase up to $50 million of its common stock. This initiative is conducted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, providing a structured framework for the buyback. The trading plan is a component of the company's previously announced stock repurchase program from October 26, 2011. Share repurchases will be managed by an independent broker and are scheduled to commence on November 28, 2011, with an expiration date of October 24, 2012. The plan is subject to SEC regulations and includes specific constraints related to price, market volume, and timing.
Key Highlights
- 1Entegris has initiated a stock repurchase plan valued at up to $50 million.
- 2The plan is structured under Rule 10b5-1, allowing for pre-planned share repurchases.
- 3This action is part of a broader stock repurchase program announced on October 26, 2011.
- 4Repurchases will be executed by an independent broker.
- 5The plan will commence on November 28, 2011, and conclude on October 24, 2012.
- 6Share buybacks are subject to SEC regulations and internal trading constraints.
Frequently Asked Questions
The primary purpose of this 8-K filing is to inform investors about Entegris, Inc.'s establishment of a pre-arranged stock trading plan, allowing the company to repurchase up to $50 million of its common stock.
The stock repurchases will be managed by an independent broker, operating under a plan established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
The plan is set to commence no earlier than November 28, 2011, and will expire on October 24, 2012.
Yes, repurchases are subject to SEC regulations, as well as specific price, market volume, and timing constraints outlined within the trading plan.