Mohawk Industries Inc.
09/17/2021 | Press release | Distributed by Public on 09/17/2021 14:51
Material Event (Form 8-K)
Other Events.
The Company announced that its Board of Directors approved a new share repurchase program on September 17, 2021, authorizing the Company to repurchase up to $500 million of its common stock. There is no remaining availability under the Company's prior share repurchase program.
Under the share repurchase program, the Company may purchase common stock in open market transactions, block or privately negotiated transactions, and may from time to time purchase shares pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18 under the Exchange Act or by any combination of such methods. The number of shares to be purchased and the timing of the purchases are based on a variety of factors, including, but not limited to, the level of cash balances, credit availability, debt covenant restrictions, general business conditions, regulatory requirements, the market price of the Company's stock and the availability of alternative investment opportunities. No time limit was set for completion of repurchases and the share repurchase program may be suspended or discontinued at any time.