EverCommerce raises share repurchase program to $325 million

EverCommerce Inc. (NASDAQ: EVCM) announced that its Board of Directors has approved a $25 million increase to its existing share repurchase program, bringing the total authorized amount to $325 million, extended through December 31, 2027.

The program was previously authorized at $300 million. Repurchases may be made in the open market at prevailing market prices or through negotiated off-market transactions. Open market repurchases will be structured to comply with Rule 10b-18, and the company may also enter into Rule 10b5-1 plans to facilitate repurchases.

The company said it expects to fund repurchases using cash on hand. The program does not obligate EverCommerce to acquire any specific amount of common stock and may be extended, modified, suspended, or discontinued at the company's discretion.

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