CAVA Group, Inc. (NYSE: CAVA) today announced that its board of directors approved a share repurchase program with authorization to purchase up to $100 million of its outstanding shares of common stock.
Repurchases under the program may be made in the open market, in privately negotiated transactions or by other means, including through trading plans intended to qualify under Rule 10b5-1 of the Securities Exchange Act of 1934, with the amount and timing of repurchases to be determined at the Company’s discretion, depending on market and business conditions, and prevailing stock prices among other factors.
Open market repurchases will be structured to occur in accordance with applicable federal securities laws.
The share repurchase program will expire on September 17, 2027. This program does not obligate the Company to acquire any particular amount of common stock, and may be modified, suspended or terminated at any time at the Company's discretion.
The Company expects to fund repurchases with a combination of existing cash and cash equivalents and cash flows from operations.
CAVA shares grabbed 61 cents, or 1.2%, early Friday to $51.82.
