Cava Group, Inc. (NYSE: CAVA) announced that its board of directors has approved a share repurchase program authorizing the purchase of up to $100 million of its outstanding common stock.

Repurchases may be conducted through open market transactions, privately negotiated transactions, or other means, including trading plans intended to qualify under Rule 10b5-1 of the Securities Exchange Act of 1934. The timing and amount of repurchases will be determined at the company's discretion, based on market and business conditions and prevailing stock prices.

The program is set to expire on September 17, 2027. The company said it does not obligate itself to acquire any specific amount of stock, and the program may be modified, suspended, or terminated at any time. Cava expects to fund repurchases using a combination of existing cash and cash equivalents and cash flows from operations.