Piper Sandler Companies Announces Share Repurchase Authorization
Piper Sandler Companies (NYSE: PIPR) has announced a new share repurchase program authorized by its board of directors. The program allows for the repurchase of up to $150 million of the company's outstanding common stock, effective immediately and extending through December 31, 2026.
The initiative is part of the company's capital allocation strategy, serving two main purposes: returning capital to shareholders and offsetting dilution from employee equity-based compensation. This new authorization replaces the previous share repurchase program that was set to expire on December 31, 2024.
Piper Sandler Companies (NYSE: PIPR) ha annunciato un nuovo programma di riacquisto di azioni autorizzato dal proprio consiglio di amministrazione. Il programma consente il riacquisto di un massimo di 150 milioni di dollari delle azioni ordinarie emesse dall'azienda, con effetto immediato e valido fino al 31 dicembre 2026.
Questa iniziativa fa parte della strategia di allocazione del capitale dell'azienda, perseguendo due obiettivi principali: restituire capitale agli azionisti e compensare la diluizione derivante dalla remunerazione basata su azioni per i dipendenti. Questa nuova autorizzazione sostituisce il precedente programma di riacquisto di azioni che sarebbe scaduto il 31 dicembre 2024.
Piper Sandler Companies (NYSE: PIPR) ha anunciado un nuevo programa de recompra de acciones autorizado por su consejo de administración. El programa permite la recompra de hasta 150 millones de dólares de las acciones ordinarias en circulación de la compañía, con efecto inmediato y que se extenderá hasta el 31 de diciembre de 2026.
La iniciativa es parte de la estrategia de asignación de capital de la empresa, que tiene dos propósitos principales: devolver capital a los accionistas y compensar la dilución de la compensación basada en acciones para empleados. Esta nueva autorización reemplaza el anterior programa de recompra de acciones que estaba programado para expirar el 31 de diciembre de 2024.
파이퍼 샌들러 컴퍼니스 (NYSE: PIPR)는 이사회에서 승인한 새로운 자사주매입 프로그램을 발표했습니다. 이 프로그램은 회사의 발행된 보통주를 최대 1억 5천만 달러까지 즉시 매입할 수 있도록 하며, 2026년 12월 31일까지 유효합니다.
이번 이니셔티브는 자본 배분 전략의 일환으로, 두 가지 주요 목적을 가지고 있습니다: 주주에게 자본을 환원하고 직원의 주식 기반 보상으로 인한 희석을 상쇄하는 것입니다. 이 새로운 승인은 2024년 12월 31일에 만료 예정이었던 이전 자사주매입 프로그램을 대체합니다.
Piper Sandler Companies (NYSE: PIPR) a annoncé un nouveau programme de rachat d'actions autorisé par son conseil d'administration. Ce programme permet le rachat d'un maximum de 150 millions de dollars des actions ordinaires en circulation de l'entreprise, avec effet immédiat et valable jusqu'au 31 décembre 2026.
Cette initiative fait partie de la stratégie d'allocation de capital de l'entreprise, poursuivant deux objectifs principaux : restituer du capital aux actionnaires et compenser la dilution due à la rémunération des employés basée sur des actions. Cette nouvelle autorisation remplace l'ancien programme de rachat d'actions qui devait expirer le 31 décembre 2024.
Piper Sandler Companies (NYSE: PIPR) hat ein neues Aktienrückkaufprogramm angekündigt, das von seinem Vorstand genehmigt wurde. Das Programm erlaubt den Rückkauf von bis zu 150 Millionen Dollar der ausstehenden Stammaktien des Unternehmens, mit sofortiger Wirkung und bis zum 31. Dezember 2026.
Diese Initiative ist Teil der Kapitalallokationsstrategie des Unternehmens und verfolgt zwei Hauptziele: die Rückführung von Kapital an die Aktionäre und die Kompensation der Verwässerung aufgrund von aktienbasierten Vergütungen für Mitarbeiter. Diese neue Genehmigung ersetzt das vorherige Rückkaufprogramm, das am 31. Dezember 2024 auslaufen sollte.
- Authorization of substantial $150 million share repurchase program
- Extended timeline until December 31, 2026 provides long-term flexibility
- Program helps offset dilution from employee equity compensation
- Capital allocation to buybacks reduces funds available for business investments
Insights
The newly announced
Financial Flexibility: The extended timeframe through December 2026 provides management significant discretion in execution timing, allowing opportunistic purchases during market volatility while maintaining capital flexibility for potential strategic investments or acquisitions in the investment banking sector.
Capital Efficiency: The dual-purpose nature of the program - offsetting equity compensation dilution while returning excess capital - demonstrates sophisticated capital management. Investment banks typically experience variable earnings cycles and this authorization structure allows management to adjust repurchase activity based on market conditions and profitability.
Market Context: In the current environment of elevated interest rates and market uncertainty, maintaining strong capital reserves while simultaneously committing to shareholder returns positions Piper Sandler competitively within the investment banking sector. The program's size suggests management's confidence in sustained free cash flow generation while preserving strategic optionality.
Balance Sheet Impact: Given Piper Sandler's historically strong capital position, this authorization likely won't constrain operational flexibility. The measured size relative to market cap indicates a balanced approach between shareholder returns and maintaining financial strength for potential market opportunities or downturns.
The company’s previous share repurchase authorization expired on December 31, 2024.
Cautionary Note Regarding Forward-Looking Information
This announcement contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are subject to significant risks and uncertainties that are difficult to predict. These forward-looking statements cover, among other things, statements made about our share repurchase plans, our liquidity and capital resources or other similar matters. These statements involve inherent risks and uncertainties, both known and unknown, and important factors could cause actual results to differ materially from those anticipated or discussed in the forward-looking statements, including (1) our ability to effect the repurchase program depends in part upon our results of operations and profitability and may be impacted by negative operating conditions, (2) an inability to access capital readily or on terms favorable to us could impair our ability to effect the repurchase program, and (3) other factors identified under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, and updated in our subsequent reports filed with the SEC. These reports are available at www.pipersandler.com or www.sec.gov. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.
ABOUT PIPER SANDLER
Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the
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