GEN Restaurant Group, Inc. Announces Stock Repurchase Program

Rhea-AI Summary

GEN Restaurant Group (GENK), owner of GEN Korean BBQ, has announced a significant stock repurchase program approved by its board of directors. The program authorizes the repurchase of up to $5.0 million worth of the company's outstanding Class A common stock.

The company will execute the buyback through various means, including open market transactions, block purchases, and privately negotiated transactions. The implementation will be facilitated through a Rule 10b5-1 trading plan, allowing stock repurchases during periods when the company might otherwise be restricted due to insider trading laws.

The timing, manner, and value of repurchases will be determined by multiple factors, including market price, economic conditions, and business considerations. The program can be suspended or discontinued at any time and does not obligate the company to acquire any specific number of shares.

Positive

• Authorization of $5.0 million stock buyback program indicates strong financial position
• Flexible repurchase structure allows optimization of share price and timing
• Implementation of 10b5-1 trading plan ensures continuous execution capability

Negative

• No guaranteed minimum number of shares to be repurchased
• Program can be suspended or discontinued at any time
• Capital allocation to buyback reduces funds available for business growth

CERRITOS, Calif., March 13, 2025 (GLOBE NEWSWIRE) -- GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq: GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature “grill at your table” experience, announced today that its board of directors approved a stock repurchase program authorizing the repurchase of up to $5.0 million worth of shares of the Company’s outstanding Class A common stock, par value $0.001 (“Common Stock”). The stock repurchase program may be suspended or discontinued at any time and does not obligate the Company to acquire any specific number of shares of its Common Stock.

Under the stock repurchase program, the Company may purchase shares of its Common Stock from time to time through various means such as open market transactions, including block purchases, and privately negotiated transactions. The actual timing, manner, number, and value of shares repurchased under the stock repurchase program will be determined by the Company at its discretion and will depend on several factors, including the market price of the Common Stock, general market and economic conditions, applicable requirements, and other business considerations.

As part of the commencement of the stock repurchase program, the Company intends to enter into a trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The 10b5-1 trading plan would permit Common Stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The 10b5-1 trading plan will be administered by an independent broker and will be subject to price, market volume and timing restrictions.

About GEN Restaurant Group, Inc.
GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States. Founded in 2011 by two Korean immigrants in Los Angeles, the brand has now grown to over 40 company-owned locations where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The extensive menu consists of traditional Korean and Korean-American food, including high-quality meats, poultry, seafood and mixed vegetables. With its unique culinary experience alongside its modern décor and lively atmosphere, GEN Korean BBQ delivers an engaging and interactive dining experience that appeals to a vast segment of the population. For more information, visit GenKoreanBBQ.com and follow the brand on Facebook and Instagram.

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “believe,” “intend,” “expect”, “will,” “may”, and other similar words or expressions that predict or indicate future events. All statements that are not statements of historical fact are forward-looking statements, including any statements regarding the stock repurchase program, our strategy, future operations, and growth prospects, any statements regarding future economic conditions or performance, any statements of belief or expectation, and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and in our subsequent filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

Investor Relations Contact:
Cody Slach and Cody Cree
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com

Media Relations Contact:
Zach Kadletz and Jade Bolton
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com

FAQ

How much is GEN Restaurant Group (GENK) planning to spend on its stock buyback program?

GEN Restaurant Group has authorized a stock repurchase program of up to $5.0 million worth of its Class A common stock.

What methods will GENK use to execute its stock repurchase program?

GENK will execute the buyback through open market transactions, block purchases, and privately negotiated transactions.

When will GENK's stock repurchase program begin and end?

The program begins March 2025 and can be suspended or discontinued at any time, with no specific end date announced.

How will GENK's Rule 10b5-1 trading plan affect the stock buyback?

The Rule 10b5-1 plan allows GENK to repurchase shares during periods when it might otherwise be restricted due to insider trading laws.