Western Alliance Bancorporation announced a $300 million share repurchase program without an expiration date.
The program aims to mitigate share price volatility by leveraging the company's strong business momentum and capital position.
Shares may be repurchased through various methods including open market transactions and block trades.
Authorization Details
The Board of Directors authorized up to $300 million for the share repurchase program with no set expiration date.
Purpose
The program aims to return excess capital to shareholders and enhance total shareholder returns by mitigating share price volatility.
Repurchase Methods
Shares may be repurchased through open market or private transactions, block trades, and in compliance with Rule 10b5-1 of the SEC.
- The repurchase program reflects the company's confidence in its robust capital generation and ability to achieve balance sheet growth objectives.
- The discretionary nature of the program allows for flexibility in timing, pricing, and the number of shares repurchased based on various factors including market conditions and regulatory requirements.
Western Alliance Bancorporation's share repurchase program demonstrates its commitment to enhancing shareholder value and capitalizing on its strong financial position for sustainable growth.