SEC Adopts Final Share Repurchase Rules
Highlights
The SEC has adopted final rules that are intended to enhance public company disclosure regarding share repurchase programs
Under the rules, companies will be required to disclose, among other things, daily repurchase activity, narrative disclosure in periodic reports regarding repurchase programs and practices, and adoption and termination of issuer 10b5-1 trading arrangements
U.S. public companies are required to comply with the new rules beginning with the first filing that covers the first full fiscal quarter beginning on or after Oct. 1, 2023 (i.e., the 2024 Form 10-K for calendar year-end issuers)
On May 3, 2023, the Securities and Exchange Commission (SEC) adopted final rules that require public companies to provide enhanced disclosure regarding their share repurchase programs and buyback activity.
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