AudioCodes (AUDC) adopts Rule 10b5-1 stock buyback trading plan
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
AudioCodes Ltd. has adopted a stock trading plan under Rule 10b5-1 to repurchase its ordinary shares. This plan allows the company to continue buybacks even during periods when it might otherwise be restricted by insider trading laws or self-imposed blackout periods.
Repurchases made under the plan must follow the price, market volume and timing limits set by Rule 10b-18. An independent broker, chosen by AudioCodes, is authorized to execute these share repurchases on the company’s behalf according to the plan’s preset pricing and other terms.
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FAQ
What did AudioCodes (AUDC) announce in this 6-K filing?
AudioCodes announced it adopted a Rule 10b5-1 stock trading plan to repurchase its ordinary shares. This structured plan governs repurchases even during blackout periods or when insider trading restrictions would otherwise prevent open-market buybacks.
What regulatory rules govern AudioCodes’ new buyback plan?
The plan is adopted under Rule 10b5-1 of the Securities Exchange Act of 1934. Repurchases must also comply with Rule 10b-18, which imposes constraints on price, market volume, and timing for issuer share repurchase programs.