BayCom declares stock repurchase programme for up to 618,000 common shares.
Global Banking News-March 12, 2020-BayCom declares stock repurchase programme for up to 618,000 common shares
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BayCom Corp's (NASDAQ:BCML) board of directors has authorised a stock repurchase programme, the company said on Wednesday.
Through this repurchase programme the company can buy back up to 618,000 shares of its common stock, or approximately 5% of its outstanding shares, over a one-year period through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the US Securities Exchange Act of 1934.
Also, the board approved BayCom's establishment of Rule 10b5-1 trading plans, which allow companies to repurchase at times when they might otherwise be prevented from doing so by securities laws or because of self-imposed trading blackout periods. Under any Rule 10b5-1 trading plan it might adopt, its third-party broker has the authority to purchase the company's common stock, subject to US Securities and Exchange...
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