Envela Corporation's Board of Directors extended the expiration date of its existing stock repurchase plan by two years, authorizing the repurchase of up to 1.1 million shares of common stock.
Key takeaways
The stock repurchase plan expiration date was extended from March 31, 2026 to March 31, 2028.
The company is authorized to repurchase up to 1,100,000 shares of common stock under the plan.
Repurchases may be conducted through open-market purchases, 10b5-1 plans, privately negotiated transactions, or other methods.
The Authorized Officers have discretion to determine prices and terms of repurchases and to retire repurchased shares.