United Bancorporation of Alabama, Inc. Repurchases all Common Stock Held by its 401(K) Employee Stock Ownership Plan
United Bancorporation of Alabama (OTCQX: UBAB) has completed the repurchase of all 197,717 shares of its common stock held by its 401(k) Employee Stock Ownership Plan (KSOP). The shares were repurchased at $54.25 per share, totaling approximately $10.7 million. The transaction, which closed on November 15, 2024, was negotiated between company representatives and the KSOP Trustee, with oversight from independent appraisers, financial advisors, and separate legal counsel for both parties.
United Bancorporation of Alabama (OTCQX: UBAB) ha completato il riacquisto di tutte le 197.717 azioni del suo capitale sociale detenute dal suo Piano di Partecipazione Azionaria per i Dipendenti 401(k) (KSOP). Le azioni sono state riacquistate a 54,25 $ per azione, per un totale di circa 10,7 milioni di dollari. La transazione, che si è chiusa il 15 novembre 2024, è stata negoziata tra i rappresentanti dell'azienda e il fiduciario del KSOP, con supervisione da parte di valutatori indipendenti, consulenti finanziari e legali separati per entrambe le parti.
United Bancorporation of Alabama (OTCQX: UBAB) ha completado la recompra de todas las 197,717 acciones de su capital social que poseía su Plan de Propiedad de Acciones para Empleados 401(k) (KSOP). Las acciones se recompraron a $54.25 por acción, totalizando aproximadamente $10.7 millones. La transacción, que se cerró el 15 de noviembre de 2024, fue negociada entre representantes de la empresa y el fiduciario del KSOP, con supervisión de tasadores independientes, asesores financieros y abogados separados para ambas partes.
United Bancorporation of Alabama (OTCQX: UBAB)는 401(k) 직원 주식 소유 계획(KSOP)에서 보유한 197,717주의 보통주를 모두 재매입하였습니다. 이 주식은 주당 $54.25로 재매입되었으며, 총액은 약 $10.7백만에 달합니다. 이 거래는 2024년 11월 15일에 종료되었으며, 회사 대표와 KSOP 수탁자 간에 협상되었고, 독립 평가사, 재무 자문가 및 양측의 별도의 법률 고문의 감독을 받았습니다.
United Bancorporation of Alabama (OTCQX: UBAB) a achevé le rachat de toutes les 197.717 actions de son capital social détenues par son Plan de Propriété d'Actions pour les Employés 401(k) (KSOP). Les actions ont été rachetées à 54,25 $ par action, totalisant environ 10,7 millions $. La transaction, qui a été conclue le 15 novembre 2024, a été négociée entre des représentants de l'entreprise et le fiduciaire du KSOP, avec la supervision d'évaluateurs indépendants, de conseillers financiers et d'avocats distincts pour les deux parties.
Die United Bancorporation of Alabama (OTCQX: UBAB) hat den Rückkauf aller 197.717 Aktien ihres Stammkapitals, die im Rahmen ihres 401(k) Mitarbeiter-Aktionärsplans (KSOP) gehalten wurden, abgeschlossen. Die Aktien wurden zu einem Preis von 54,25 $ pro Aktie zurückgekauft, was insgesamt etwa 10,7 Millionen $ entspricht. Die Transaktion, die am 15. November 2024 abgeschlossen wurde, wurde zwischen Unternehmensvertretern und dem KSOP Treuhänder verhandelt, wobei die Aufsicht von unabhängigen Gutachtern, Finanzberatern und getrennten Rechtsberatern für beide Parteien gewährleistet wurde.
- Strategic deployment of $10.7 million in capital for share repurchase
- Demonstrates financial strength and ability to execute significant stock buybacks
- Significant cash outlay of $10.7 million reduces company's liquid assets
- Reduction in employee ownership stake in the company
The transaction was negotiated by representatives of United and the KSOP Trustee, with fiduciary and financial guidance provided by a qualified independent appraiser, an independent opinion as to the adequacy of the consideration paid to the KSOP, and separate counsel for United and the KSOP Trustee. A Special Independent KSOP Trustee was appointed solely for purposes of reviewing and negotiating the terms of the transaction on behalf of the KSOP. The transaction closed on Friday, November 15, 2024.
About United Bancorporation of Alabama, Inc.
United Bancorporation of Alabama, Inc. is a
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SOURCE United Bancorporation
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