UDR · UDR, Inc.

UDR, Inc. announced a significant expansion of its share repurchase program, authorizing the repurchase of up to 25 million additional shares of common stock, effective immediately. This increases the total authorization to approximately 30 million shares, which at current share price levels equates to more than $1 billion. The new authorization is in addition to the remaining 4.6 million shares under the existing program approved in January 2008, which remains unchanged. The repurchase program allows for flexibility in execution, including open-market purchases, block trades, and privately negotiated transactions. The timing and amount of repurchases will depend on factors such as price, regulatory requirements, and market conditions. The program has no expiration date and may be terminated at any time without prior notice. This move signals management's confidence in the company's financial position and its commitment to returning capital to shareholders.