Pineapple Financial (NYSE: PAPL) approves $15M share repurchase
Rhea-AI Filing Summary
Pineapple Financial Inc. expanded its share repurchase program, raising the total authorization from US$3,000,000 to up to US$15,000,000 of its outstanding common shares. The Board approved this increase and the company plans to begin repurchasing shares immediately under the initial US$3,000,000 authorization, subject to securities laws and having no material non-public information at the time of purchase.
The expanded authorization includes the original US$3,000,000 and an additional up to US$12,000,000, which may be used for future buybacks depending on further Board approval, solvency requirements, and the company’s financial condition and liquidity. Repurchases may occur from time to time in the open market under Rule 10b-18 and Rule 10b5-1, and the program can be modified, suspended, or terminated at the company’s discretion.
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Insights
Pineapple boosts buyback capacity to US$15M, adding flexibility without fixed commitments.
Pineapple Financial increased its share repurchase authorization from US$3,000,000 to US$15,000,000. The company intends to start repurchases immediately under the existing US$3,000,000 tranche, using open-market transactions consistent with Rule 10b-18 and potential Rule 10b5-1 trading plans.
The additional US$12,000,000 capacity is conditional on further Board approval, solvency tests, and the company’s liquidity and capital priorities. Actual impact will depend on how much of this authorization is ultimately used, the pace of purchases, and disclosures in future SEC filings about completed repurchase activity.
8-K Event Classification
Key Figures
Key Terms
Rule 10b-18 regulatory
Rule 10b5-1 regulatory
forward-looking statements regulatory
emerging growth regulatory
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Item 7.01. Regulation FD Disclosure
Share Repurchase Program
On April 22, 2026, Pineapple Financial Inc. (the “Company”) issued a press release announcing that its Board of Directors has approved an expansion of its previously announced share repurchase program, as described in greater detail in Item 8.01 of this Current Report on Form 8-K. A copy of the press release is furnished hereto as Exhibit 99.1.
Presentation
In connection with the share buyback, the Company delivered a presentation which provides key operating & financial metrics (the “Presentation”). A copy of the Presentation is furnished hereto as Exhibit 99.2.
Item 8.01 Other Events.
On April 22, 2026, the Company’s Board of Directors approved an expansion of its previously announced share repurchase program, increasing the aggregate authorization from US$3,000,000 to up to US$15,000,000 of the Company’s outstanding common shares. The shares may be repurchased from time to time in open market purchases and pursuant to safe harbors provided by Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. The timing, manner, price and amount of any repurchases under the expanded share repurchase program will be determined by the Company in its discretion. The stock repurchase program does not require the Company to repurchase any specific number of shares, and may be modified, suspended or terminated at any time.
Item 9.01 Financial Statements and Exhibits
(a) Exhibits
| Number | Description | |
| 99.1 | Press Release dated April 22, 2026 | |
| 99.2 | Presentation | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 22, 2026
| PINEAPPLE FINANCIAL INC. | ||
| By: | /s/ Shubha Dasgupta | |
| Shubha Dasgupta | ||
| Chief Executive Officer | ||
Exhibit 99.1
PINEAPPLE FINANCIAL ANNOUNCES EXPANDED $15 MILLION SHARE REPURCHASE PROGRAM
Expanded Buyback Signals Management’s Commitment to Long-Term Value; Repurchases to Commence Immediately
Toronto, Ontario, April 22, 2026 - Pineapple
Financial Inc. (NYSE American: PAPL), (“Pineapple” or “the Company”), a leading fintech platform, today announced
that its Board of Directors has approved an expansion of its
The Company also announced that it intends to commence repurchasing shares immediately under the previously approved US$3,000,000 authorization, subject to applicable securities laws and the absence of material non-public information at the time of purchase.
The expanded authorization includes (i) the initial US$3,000,000 to be executed under the existing program, and (ii) an additional up to US$12,000,000, which may be repurchased from time to time, subject to further Board approval, satisfaction of applicable solvency requirements, and the Company’s financial condition, liquidity position, and capital allocation priorities.
The timing and price of repurchases as well as
the actual number of shares repurchased under the
About Pineapple Financial Inc.
Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.
Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, fluctuations in the market price of INJ and any associated impairment charges that we may incur as a result of a decrease in the market price of INJ below the value at which INJ is carried on our balance sheet; changes in the accounting treatment relating to our INJ holdings; the Company’s financial condition, customer acceptance of our INJ treasury strategy, and other factors discussed in the “Risk Factors” section of the registration statements, and periodic reports filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.
Media Contact:
KCSA Strategic Communications
Kristin Cwalinski
pineapple@kcsa.com
Investor Relations:
KCSA Strategic Communications
Jack Perkins
pineapple@kcsa.com
Exhibit 99.2
