Potbelly (PBPB) Announces $30M Buyback Plan

September 8, 2016 6:08 PM EDT

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Potbelly Corporation (NASDAQ: PBPB) announced today that its Board of Directors has authorized a new share repurchase program for up to $30 million of the Company’s common stock. The Company’s previous $35 million share repurchase program, authorized in September 2015, was completed in July 2016. The timing and volume of share repurchases will be determined by the Company's management based on its ongoing assessments of the capital needs of the business, the market price of its common stock and general market conditions. No time limit has been set for the completion of the share repurchase program, and the program may be suspended or discontinued at any time. The share repurchase program authorizes the Company to purchase its common stock from time to time through open market purchases, negotiated transactions or other means, including 10b5-1 trading plans in accordance with applicable securities laws and other restrictions.

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