Abacus Global Management insider Kirby Kevin Scott, a co-founder, president and 10% owner, filed an amended Form 4 to correct how his holdings are reported. The amendment reflects an open-market purchase of 86,207 shares of common stock at $5.774 per share held indirectly through an LLC jointly owned with his spouse, and a prior grant of 8,000 restricted stock units that convert into common stock on a one-for-one basis. The footnotes explain that a June 4 report misclassified 86,215 shares as directly owned and omitted the 8,000 vested shares, so this filing moves those shares to the correct direct and indirect categories and updates the remaining RSU balance from a 24,000-unit award vesting in three equal 8,000-share installments.
Abacus Global Management, Inc. announced that its Board of Directors has authorized a new stock repurchase program for its common shares. The program permits the company to buy back up to $20 million of stock in the open market or through privately negotiated transactions.
The repurchases may include accelerated share repurchase transactions, block trades, and use of Rule 10b5-1 trading plans. The program commences immediately and can be carried out from time to time until May 6, 2027, giving the company flexibility over the next several years to manage its capital structure.