Simmons First National Launches $175 Million Stock Repurchase Program Through January 2028
Board of Directors authorized a $175 million repurchase program replacing the January 2024 plan that expired January 31, 2026. The program allows open-market and private purchases at management's discretion, funded by cash and future cash flow, and will run through January 31, 2028 unless suspended earlier.
1. Board Authorizes $175M Repurchase Program
Simmons First National Corporation's board approved a new repurchase authorization allowing the company to buy up to $175 million of Class A common stock, succeeding the January 2024 plan that terminated on January 31, 2026.
2. Program Details and Execution
Under the program, management may repurchase shares through open-market trades, privately negotiated deals, including Rule 10b5-1 plans, or other transactions. Purchasing decisions will hinge on trading volumes, market price, working capital needs, and economic conditions.
3. Funding Sources and Termination
The company expects to fund repurchases from cash on hand and future cash flows. The program is discretionary and may be modified, suspended, or discontinued at any time, and will terminate on January 31, 2028 unless ended earlier.