Fathom Holdings Inc. has announced that its board of directors has authorized a share repurchase program under which the company may repurchase up to $10 million of its outstanding shares of common stock. The share repurchase authorization does not have a fixed expiration, the company stated.
“The share repurchase program underscores the board’s, and management’s, complete confidence in our company, including the strong business momentum we are experiencing and the growth opportunities we see ahead,” said Fathom CEO Joshua Harley. “The decision to adopt the share repurchase program was made in view of the current price at which the company’s stock is trading. We believe this decision reflects our disciplined approach to capital allocation, and with the company’s financial position, we feel confident that we will still have ample capacity to continue to execute on our accelerated growth strategy.”
According to Fathom, under the program, repurchases can be made from time-to-time using a variety of methods, including open market transactions, 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.
The actual timing and amount of future repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors. The repurchase program does not obligate the company to acquire any number of shares and may be suspended or discontinued at any time at the company’s discretion.
For more information, visit www.FathomInc.com.
