Sun Life (TSX: SLF) wins approval to renew 10M-share buyback program

Rhea-AI Filing Summary

Sun Life Financial Inc. received regulatory approval from OSFI and the TSX to renew its normal course issuer bid, allowing it to repurchase up to 10,000,000 common shares, representing about 1.8% of the 554,255,267 shares outstanding as of May 15, 2026.

The renewed bid runs from May 29, 2026 to May 28, 2027, with purchases permitted on the TSX, other Canadian exchanges, the NYSE and alternative trading platforms at market prices. Bought shares will be cancelled or used for equity-settled incentive plans.

Under the prior issuer bid, Sun Life repurchased 10,570,915 common shares at a weighted average price of $83.33. As of March 31, 2026, the company reported $1.58 trillion of assets under management, highlighting its large global financial services footprint.

Key Figures

NCIB capacity: 10,000,000 shares Repurchase percentage: 1.8% Shares outstanding: 554,255,267 shares +5 more

8 metrics

NCIB capacity 10,000,000 shares Maximum common shares repurchasable under renewed NCIB

Repurchase percentage 1.8% Portion of 554,255,267 shares outstanding as of May 15, 2026

Shares outstanding 554,255,267 shares Common shares issued and outstanding as of May 15, 2026

TSX ADTV 2,008,137 shares Average daily trading volume for six months ending April 30, 2026

TSX daily limit 502,034 shares 25% of ADTV; maximum TSX purchases per trading day

Prior NCIB repurchases 10,570,915 shares Total shares bought under prior NCIB before expiry on May 21, 2026

Prior NCIB avg price $83.33 per share Weighted average price paid for shares under prior NCIB

Assets under management $1.58 trillion Total assets under management as of March 31, 2026

Key Terms

normal course issuer bid, automatic repurchase plan, issuer bid exemption orders, average daily trading volume, +1 more

5 terms

normal course issuer bid financial

"approved the renewal of the Company's previously announced normal course issuer bid to purchase up to 10,000,000 of its common shares"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

automatic repurchase plan financial

"The Company has established an automatic repurchase plan with its designated broker in order to facilitate purchases"

An automatic repurchase plan is a pre-set program that lets a company buy back its own shares on a regular, automated schedule rather than making one-off purchases. For investors, it matters because it can steadily reduce the number of shares available, potentially supporting the stock price and boosting per-share metrics, while also signaling management’s view of the company’s value—think of it like a standing order to quietly trim inventory over time.

issuer bid exemption orders regulatory

"share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities"

Orders used when a company buys back its own shares under a regulatory exemption that lets the company complete repurchases with fewer formal steps or disclosures than a full, regulated tender offer. Investors care because these buybacks reduce the number of shares available, can push the share price up, change ownership proportions and voting power, and signal management’s view of the company’s value — think of a shop quietly removing items from sale to boost scarcity and price.

average daily trading volume financial

"The average daily trading volume on the TSX for the six months ending April 30, 2026 was 2,008,137 common shares"

The average daily trading volume is the typical number of shares or units of a security that change hands each trading day, calculated over a set period. It tells investors how active a market is—like average traffic on a road—so higher volume usually means easier, faster trades and smaller price swings when buying or selling, while low volume can make orders harder to fill and cause bigger price moves.

forward-looking statements regulatory

"Forward-Looking Statements From time to time, the Company makes written or oral forward-looking statements within the meaning of certain securities laws"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

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Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 05/27/2026 - 06:02 AM Accepted by SEC EDGAR 05/26/2026 - 05:50 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934

For the month of May 2026 Commission File Number: 001-15014

SUN LIFE FINANCIAL INC.

(Translation of registrant's name into English)

1 York Street, 31st Floor, Toronto, Ontario, M5J 0B6

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐ Form 40-F ☒

Exhibits		Description
99.1		News Release dated May 26, 2026

SIGNATURE

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 

		Sun Life Financial Inc. (Registrant)
Date: May 26, 2026		By:		/s/ “Kevin Armitage”
				Kevin Armitage
				AVP & Managing Counsel, Corporate Legal

Exhibit 99.1

 

Sun Life Receives Regulatory Approval of Normal Course Issuer Bid Renewal

TORONTO, May 26, 2026 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the "Company") announced today that the Office of the Superintendent of Financial Institutions ("OSFI") and the Toronto Stock Exchange (the "TSX") have approved the renewal of the Company's previously announced normal course issuer bid to purchase up to 10,000,000 of its common shares ("common shares") (representing approximately 1.8% of the 554,255,267 common shares issued and outstanding as at May 15, 2026) (the "NCIB").

The NCIB will provide the Company with the flexibility to acquire common shares in order to return capital to shareholders as part of its overall capital management strategy.

The NCIB will commence on May 29, 2026 and continue until May 28, 2027, or such earlier date as the Company may determine. The average daily trading volume on the TSX for the six months ending April 30, 2026 was 2,008,137 common shares (the "ADTV"). Purchases under the NCIB may be made through the facilities of the TSX, other Canadian stock exchanges, the New York Stock Exchange (the "NYSE") and/or alternative trading platforms in Canada and the United States, at prevailing market rates. In accordance with the TSX rules, the Company may purchase up to 502,034 of its common shares on the TSX during any trading day, which represents 25% of the ADTV, subject to the TSX rules permitting block purchases. Subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day on the NYSE will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase.

Subject to regulatory approval, purchases under the NCIB may also be made by way of private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any purchases made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. The actual number of common shares purchased under the NCIB, and the timing of such purchases (if any), will be determined by the Company. Any common shares purchased by the Company pursuant to the NCIB will be cancelled or used in connection with certain equity settled incentive arrangements.

The Company has established an automatic repurchase plan with its designated broker in order to facilitate purchases of common shares under the NCIB. Under the automatic repurchase plan, the Company's designated broker may purchase common shares pursuant to the NCIB at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Purchases made pursuant to the automatic repurchase plan, if any, will be made by the Company's designated broker based upon the parameters prescribed by the TSX, the NYSE, applicable Canadian and U.S. securities laws and the terms of the written agreement between the Company and its designated broker. The automatic repurchase plan constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX.

Under its prior normal course issuer bid (the "Prior NCIB"), which commenced on June 9, 2025 and expired on May 21, 2026, the Company was permitted to purchase up to 10,570,915 common shares. As of May 15, 2026, the Company had purchased 10,570,915 common shares under the Prior NCIB at a weighted average price of $83.33 per common share through the facilities of the TSX, other Canadian stock exchanges, the NYSE and/or alternative trading platforms in Canada and the United States.

Forward-Looking Statements
From time to time, the Company makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements contained in this news release include statements (i) relating to the NCIB (including, but not limited to, statements regarding future purchases of common shares under the NCIB, including under the automatic repurchase plan), (ii) that are predictive in nature or that depend upon or refer to future events or conditions, and (iii) that include words such as "intends", "expects", "will" and similar expressions. The forward-looking statements made in this news release are stated as at May 26, 2026, represent the Company's current expectations, estimates and projections regarding future events and are not historical facts. These statements are not a guarantee of future performance and involve assumptions and risks and uncertainties that are difficult to predict. Some of these assumptions and risks and uncertainties are described further in the Company's management's discussion and analysis for the year ended December 31, 2025 under the heading "Forward-looking Statements", in the risk factors set out in the Company's annual information form for the year ended December 31, 2025 under the heading "Risk Factors", and in the Company's interim management's discussion and analysis for the quarter ended March 31, 2026 under the heading "Risk Management", in the other factors detailed in the Company's annual and interim financial statements and in the Company's other filings with Canadian and U.S. securities regulators, which are available for review at www.sedarplus.ca and www.sec.gov, respectively. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking statements and there is no assurance that any common shares will be purchased under the NCIB (including under the automatic repurchase plan).

The Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law.

About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2026, Sun Life had total assets under management of $1.58 trillion. For more information, please visit www.sunlife.com.  

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

To contact Sun Life media relations, please email Media.Relations@sunlife.com.

To contact Sun Life investor relations, please email Investor_Relations@sunlife.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sun-life-receives-regulatory-approval-of-normal-course-issuer-bid-renewal-302782303.html

SOURCE Sun Life Financial Inc. - Financial News

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/26/c3265.html

%CIK: 0001097362

CO: Sun Life Financial Inc. - Financial News

CNW 17:01e 26-MAY-26

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-991 NEWS RELEASE DATED MAY 26, 2026 10.0 KB
• EX-991 PRINTER FRIENDLY VERSION 151.0 KB