Program Authorizes Repurchase of up to $350 Million of Class A Common Stock
Nutanix (NASDAQ:NTNX), a leader in hybrid multicloud computing, today announced that its Board of Directors has authorized the repurchase of up to $350 million of its Class A common stock.
“We remain focused on investing in our business to support profitable growth and on delivering strong returns for shareholders. This share repurchase program is consistent with these objectives and a reflection of the confidence we have in our long-term market opportunity and financial outlook,” said Nutanix CFO, Rukmini Sivaraman.
Nutanix may repurchase shares from time to time through open market purchases, in privately negotiated transactions or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and amount of share repurchases will depend upon prevailing stock prices, business and market conditions, corporate and regulatory requirements, alternative investment opportunities and other factors. The authorization has no expiration date and may be modified, suspended or discontinued at any time and does not obligate Nutanix to repurchase any minimum number of shares. No assurance can be given that any particular amount of shares will be repurchased.
