PCB Bancorp (PCB) Announces Stock Repurchase Plan
- Nasdaq futures fall over 1% on inflation worries
- Roblox (RBLX) Gains as Sales Rise 140%, Analyst Raises PT on Strong Growth and Early China Launch
- Commodity gains restrain dollar ahead of inflation data
- FDA Authorizes Pfizer (PFE) - BioNTech (BNTX) Vaccine for Emergency Use in Adolescents
- L Brands (LB) to Separate Bath & Body Works and Victoria’s Secret Into Two Industry-Leading Publicly Traded Companies
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
PCB Bancorp (the “Company”) (NASDAQ: PCB), the bank holding company for Pacific City Bank, announced that on April 8, 2021, its Board of Directors approved a repurchase program authorizing for the repurchase up to 5% of the Company’s outstanding common stock as of the date of the board meeting, which represented 775,000 shares, through September 7, 2021, with repurchases to commence shortly after the Company announces its unaudited results for the first quarter of 2021.
Under the stock repurchase program, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at the Company’s discretion. Factors include, but are not limited to, stock price, trading volume and general market conditions, along with the Company’s general business conditions. The program may be suspended or discontinued at any time and does not obligate the company to acquire any specific number of shares of its common stock.
As part of the stock repurchase program, the Company intends to enter into a trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The 10b5-1 trading plan would permit common stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The 10b5-1 trading plan will be administered by an independent broker and will be subject to price, market volume and timing restrictions.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ginkgo Bioworks and Soaring Eagle Acquisition (SRNG) have agreed to business combination
- Guild Holdings Company Reports First Quarter 2021 Results
- Kraken Provides 2021 Guidance of 100%+ Revenue Growth and Preliminary Q1 Financial Results
Create E-mail Alert Related CategoriesCorporate News, Stock Buybacks
Related EntitiesStock Buyback, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!