Empery Digital shareholder demands restart of stock buybacks

Tice P. Brown, who owns 12.1% of Empery Digital Inc. (NASDAQ: EMPD), sent a letter to the company's board demanding an immediate restart of maximum daily stock buybacks.

Brown stated that Empery Digital halted its buyback program ten business days prior without explanation. The company had been conducting buybacks since February 2026, purchasing nearly 1% of shares outstanding per day while selling Bitcoin from its treasury.

According to Brown's letter, the cessation of buybacks has increased the discount between the stock price and net asset value. He estimated the company has spent over $15 million in operating expenses since converting to a Bitcoin treasury strategy last summer.

The shareholder criticized CEO Ryan Lane's ownership stake, stating Lane owns approximately 0.3% of company shares based on public disclosures. Brown claimed the buyback program had reallocated approximately $0.17 per share of net asset value since February.

Brown argued that the buyback program was the primary justification for the company's continued existence and called for its immediate reinstatement at maximum daily allowed levels.

The letter was distributed through Globe Newswire and included contact information for InvestorCom LLC representatives John Glenn Grau and Michelle Frosch-Richards.

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