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Udemy (NASDAQ:UDMY), a leading online skills marketplace and learning platform, today announced its Board of Directors approved a share repurchase program, authorizing the purchase of up to $100 million of the Company's common stock, effective immediately.
"This share repurchase program underscores the confidence that our Board and management team have in our business and the future of Udemy, and reinforces our commitment to deliver returns for Udemy shareholders," said Greg Brown, Udemy's President and CEO. "Our strong balance sheet provides us with the flexibility to repurchase shares, while continuing to drive shareholder value through execution of our long-term strategy."
The timing and amount of any shares of the Company's common stock that are repurchased under the repurchase program will be determined by the Company's management based on its evaluation of market conditions and other factors. Shares may be acquired from time to time in the open market, through privately negotiated transactions or otherwise in compliance with Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. The Board of Directors also authorized the Company to establish Rule 10b5-1 trading plans that permit the Company to repurchase its outstanding shares at times when it might otherwise be prevented from doing so. The repurchase program may be suspended or discontinued at any time.
Posted In: UDMY
