Since the program’s inception in October 2021, the firm has already repurchased roughly $733 million of its common stock. President and CEO Peter R. Matt characterized the authorization as a reflection of confidence in the company’s long-term growth strategy and its ability to generate consistent cash flow.

Management will handle repurchases through open market or privately negotiated transactions, contingent on market conditions and capital allocation needs. The program remains flexible, allowing the board to modify or terminate the initiative at any time without prior notice.