How may Caption By Hyatt make common stock repurchases?
Caption_By_Hyatt Franchise · 2025 FDDAnswer from 2025 FDD Document
esenting approximately 2.4% of the outstanding shares of our common stock and approximately 3.9% of the total voting power of our outstanding common stock. Pursuant to the 2007 Stockholders' Agreement, these entities have also agreed to certain voting agreements and to certain limitations with respect to the sale of shares of our common stock.
Share Repurchase—On December 18, 2019, May 10, 2023, and May 8, 2024 our board of directors authorized repurchases of up to $750 million, $1,055 million, and $1,000 million, respectively, of our common stock. These repurchases may be made from time to ti
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Caption By Hyatt's 2025 Franchise Disclosure Document, the company's board of directors authorized repurchases of its common stock on December 18, 2019, May 10, 2023, and May 8, 2024. The maximum amounts authorized for these repurchases were $750 million, $1,055 million, and $1,000 million, respectively. These repurchases apply to both Class A and Class B common stock.
Caption By Hyatt may make these repurchases from time to time in the open market, through privately negotiated transactions, or otherwise. This includes the possibility of using a Rule 10b5-1 plan or an Accelerated Share Repurchase (ASR) transaction. The prices at which Caption By Hyatt repurchases shares are determined to be appropriate by the company, subject to market conditions, applicable law, and other factors deemed relevant at its sole discretion.
The share repurchase program does not obligate Caption By Hyatt to repurchase any specific dollar amount or number of shares. The program can be suspended or discontinued at any time, and it does not have a set expiration date. As of December 31, 2024, $971 million remained available under the total share repurchase authorization.