SEC Issues Final Rule to Modernize Share Buyback Disclosures
May 3, 2023
The SEC has issued a final rule to modernize and enhance disclosures related to an issuer’s share repurchase activities and programs. Under the final rule, certain issuers will be required to disclose, on a quarterly or semiannual basis, the prior period’s daily repurchase activity, including purchase dates, amounts of repurchased shares, and average purchase prices. Issuers will also have to explain the purpose of such repurchases and how they determined buyback amounts.
For more information, see the press release and fact sheet, as well as the statements by SEC Chair Gary Gensler and Commissioners Caroline Crenshaw, Jaime Lizárraga, Hester Peirce, and Mark Uyeda, on the SEC’s Web site.