01—Abstract
Summary
Summary of the 8-K filed December 5, 2024. Cited figures are marked; the original filing is the authoritative source.
T.
Rowe Price Group, Inc. filed a Form 8-K on December 5, 2024 under Item 8.01 (Other Events) to disclose that its Board of Directors, on December 4, 2024, approved a 15 million share increase in the Company's authorization to repurchase shares of its common stock. Following this increase, the total repurchase authorization will be approximately 19 million shares of the Company's outstanding common stock as of December 4, 2024. The filing states that repurchases may be made from time to time on the open market, in privately negotiated transactions, or in other manners determined by the Company, including through plans complying with Rule 10b5-1 under the Exchange Act.
The Company cites price, corporate requirements, and overall market conditions as factors in these decisions. The filing explicitly notes there can be no assurance as to the number of shares that will be purchased, if any.
The repurchase program has no expiration date and may be increased, modified, renewed, suspended, or terminated by the Company at any time without prior notice. The filing does not include any financial results or other financial figures beyond the share authorization amounts.
02—Key points
Key Highlights
- On December 4, 2024, the Board of Directors approved a 15 million share increase to the Company's share repurchase authorization.
- Following the increase, the total repurchase authorization will be approximately 19 million shares of outstanding common stock.
- Repurchases may be made on the open market, in privately negotiated transactions, or through Rule 10b5-1 plans, based on price, corporate requirements, and market conditions.
- The filing states there can be no assurance as to the number of shares that will be repurchased, if any.
- The repurchase program has no expiration date and may be modified, suspended, or terminated at any time without prior notice.
- The disclosure is made under Item 8.01 (Other Events) and does not include financial results.
03—Questions
Frequently Asked Questions
How many additional shares can T. Rowe Price repurchase under the increased authorization?
The Board approved a 15 million share increase to the repurchase authorization. After this increase, the total authorization will be approximately 19 million shares of outstanding common stock as of December 4, 2024.
Is T. Rowe Price required to buy back the full authorized amount?
No. The filing states there can be no assurance as to the number of shares the Company will purchase, if any. Repurchases depend on factors such as price, corporate requirements, and overall market conditions.
How will the shares be repurchased?
Repurchases may be made from time to time on the open market, in privately negotiated transactions, or in other manners determined by the Company, including through plans complying with Rule 10b5-1 under the Exchange Act.
Does the repurchase program have an expiration date?
No. The share repurchase program does not have an expiration date and may be increased, modified, renewed, suspended, or terminated by the Company at any time without prior notice.
04—Continue