Does the share repurchase program for Caption By Hyatt have an expiration date?
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 time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan or an ASR transaction, at prices we deem appropriate and subject to market conditions, applicable law, and other factors deemed relevant in our sole discretion.
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 share repurchase program does not have an expiration date. The board of directors authorized repurchases of common stock on December 18, 2019, May 10, 2023, and May 8, 2024. These repurchases can be made periodically in the open market or through private negotiations.
These repurchases are subject to market conditions, applicable laws, and other factors that Caption By Hyatt deems relevant. The program applies to both Class A and Class B common stock.
However, Caption By Hyatt is not obligated to repurchase any specific dollar amount or number of shares. The program can be suspended or discontinued at any time at Caption By Hyatt's discretion.