EverCommerce Inc.

05/22/2024 | Press release | Distributed by Public on 05/22/2024 06:19

Regulation FD Disclosure - Form 8-K

Item 7.01
Regulation FD Disclosure.

On May 21, 2024, the Board of Directors of EverCommerce Inc. (the "Company") approved a $50.0 million increase in the previously announced stock repurchase authorization and extended the authorization through December 31, 2025. The total authorization since the repurchase program began allows for the purchase of up to $200.0 million in shares of the Company's common stock.

The Company repurchased and retired 1.2 million shares of common stock for approximately $12.1 million during the three months ended March 31, 2024. As of March 31, 2024, $27.9 million remained available under the repurchase program.

Repurchases under the program may be made from time to time in the open market at prevailing market prices or in negotiated transactions off the market. Open market repurchases will be structured to occur within the pricing and volume requirements of Rule 10b-18. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. This program does not obligate the Company to acquire any particular amount of common stock and the program may be extended, modified, suspended or discontinued at any time at the Company's discretion. The Company expects to fund repurchases with cash on hand.