National Vision (EYE) Increases Share Buyback Plan to $100M from $50M

National Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”) today announced that its Board of Directors has authorized an increase by $50 million to $100 million in the Company’s share repurchase program. Since the original $50 million program was authorized on November 8, 2021, approximately 1.0 million shares have been repurchased for a total consideration of $48.4 million.

Reade Fahs, chief executive officer, stated, “The share repurchase authorization was initially established with the principal intent of offsetting share dilution related to equity grants. Although that objective remains, we also believe that the current share price offers the Company the ability to purchase shares at an attractive price which will benefit our long-term stockholders. We remain confident in our business model, and our ability to continue to generate strong cash flows and deliver sustainable growth.”

The Board’s authorization permits the Company to make purchases of its Common Stock from time to time in the open market or privately negotiated transactions, and pursuant to pre-set trading plans meeting the requirements of all applicable securities laws and regulations. Shares may be repurchased under the program through December 30, 2023. The timing and amounts of any such repurchases will depend on a variety of factors, including the market price of the Company’s shares and general market and economic conditions. The Company expects to fund the share repurchases using cash on hand.

About National Vision Holdings, Inc.

National Vision Holdings, Inc. is the second largest optical retail company in the United States (by sales) with more than 1,200 stores in 44 states and Puerto Rico. With a mission of helping people by making quality eye care and eyewear more affordable and accessible, the company operates five retail brands: America’s Best Contacts & Eyeglasses, Eyeglass World, Vision Centers inside select Walmart stores, and Vista Opticals inside select Fred Meyer stores and on select military bases, and several e-commerce websites, offering a variety of products and services for customers’ eye care needs. For more information, please visit www.nationalvision.com.

You May Also Be Interested In

• Real Remax Group authorizes up to $450M share repurchase program
• Havas repurchases shares under its €50M buyback program
• LPL Financial names Jonathan Lewis as chief technology officer