OP Bancorp (Nasdaq: OPBK) has approved a new stock repurchase program authorizing the repurchase of up to 700,000 shares of its common stock.
The Repurchase Program is intended to be conducted in compliance with Rule 10b-18 under the Securities Exchange Act of 1934.
Management retains discretion over the timing, quantity, and value of share repurchases based on market conditions and stock price.
Stock Repurchase Program Approval
Board of Directors approved the repurchase of up to 700,000 shares of common stock.
Compliance with Rule 10b-18
The Repurchase Program will adhere to Rule 10b-18 regarding stock repurchases.
Management's Discretion
Management will decide on share repurchases based on market conditions and stock price.
- The success of the repurchase program hinges on factors affecting stock price, liquidity, and capital resources.
- Risks and uncertainties may influence the program's outcomes, as outlined in the company's filings with the SEC.
OP Bancorp's new stock repurchase program underscores its commitment to enhancing shareholder value and optimizing capital allocation strategies in the evolving market landscape.