Victory Capital Announces New $100 Million Share Repurchase Program

Rhea-AI Summary

Victory Capital Holdings, Inc. (NASDAQ: VCTR) announced a new common stock repurchase program authorizing the repurchase of up to $100 million of its Common Stock through December 31, 2025. The program allows the company to remain flexible and opportunistic with its capital allocation. The shares may be purchased from time to time in the open market or in privately negotiated transactions, depending on various factors.

SAN ANTONIO, Texas--(BUSINESS WIRE)-- Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today announced that its Board of Directors has approved a new common stock repurchase program authorizing the repurchase of up to $100 million of its Common Stock through December 31, 2025.

“This new repurchase authorization allows us to remain flexible and opportunistic with our capital allocation,” said David Brown, Chairman and Chief Executive Officer.

Under the new program, the Company may purchase its shares from time to time in the open market or in privately negotiated transactions. The amount and timing of the purchases will depend on a number of factors including the price and availability of the Company's shares, trading volume, capital availability, Company performance and general economic and market conditions. The share repurchase program may be suspended or discontinued at any time.

About Victory Capital

Victory Capital is a diversified global asset management firm with $148.9 billion in assets under management as of October 31, 2023. The Company employs a next-generation business strategy that combines boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.

Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 11 autonomous Investment Franchises and a Solutions Business, Victory Capital offers a wide array of investment products and services, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, a 529 Education Savings Plan, and brokerage services.

Victory Capital is headquartered in San Antonio, Texas, with offices and investment professionals in the U.S. and around the world. To learn more please visit www.vcm.com or follow Victory Capital on Facebook, Twitter, and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205677253/en/

Investors:

Matthew Dennis, CFA

Chief of Staff

Director, Investor Relations

216-898-2412

mdennis@vcm.com

Media:

Jessica Davila

Director of Global Communications

210-694-9693

Jessica_davila@vcm.com

Source: Victory Capital Holdings, Inc.

FAQ

What did Victory Capital announce?

Victory Capital Holdings, Inc. announced a new common stock repurchase program authorizing the repurchase of up to $100 million of its Common Stock through December 31, 2025.

What is the ticker symbol of Victory Capital?

The ticker symbol of Victory Capital is VCTR.

How will the shares be purchased under the new program?

The shares may be purchased from time to time in the open market or in privately negotiated transactions, depending on various factors.

Who is the Chairman and CEO of Victory Capital?

David Brown is the Chairman and Chief Executive Officer of Victory Capital.

Until when is the new repurchase program authorized?

The new repurchase program is authorized through December 31, 2025.