Sun Life (NYSE: SLF) to renew buyback for up to 10M shares

Rhea-AI Filing Summary

Sun Life Financial Inc. plans, subject to OSFI and TSX approval, to renew a normal course issuer bid to repurchase up to 10,000,000 common shares. This represents approximately 1.8% of the 554,013,029 common shares outstanding as of March 31, 2026.

The program is expected to begin on May 29, 2026, or earlier once approvals are received, and can run for up to 12 months. Shares may be bought on the TSX, other Canadian exchanges, the NYSE and alternative trading platforms, and then cancelled or used for equity-based incentive plans.

Insights

Equity capital markets analyst

Sun Life plans a modest, flexible share repurchase of up to 10M shares.

Sun Life Financial Inc. intends to renew a normal course issuer bid to buy back up to 10,000,000 common shares, about 1.8% of the 554,013,029 shares outstanding as of March 31, 2026. The stated aim is to return capital as part of its overall capital management strategy.

The bid, once approved by OSFI and the TSX, may start around May 29, 2026 and last up to 12 months. Purchases can occur across the TSX, NYSE, other Canadian exchanges and alternative platforms, including possible private agreements or repurchase programs under exemption orders.

Any repurchased shares will be cancelled or used for equity-settled incentive arrangements, which affects share count and compensation structure. The company also notes it may use pre-defined broker plans during blackout periods, and emphasizes usual forward-looking statement cautions about approvals and the actual level of repurchases.

Key Figures

Planned share repurchase capacity: 10,000,000 shares Repurchase size as percent of shares: 1.8% Shares outstanding: 554,013,029 shares +3 more

6 metrics

Planned share repurchase capacity 10,000,000 shares Maximum common shares under intended normal course issuer bid

Repurchase size as percent of shares 1.8% Portion of common shares outstanding represented by 10,000,000 shares

Shares outstanding 554,013,029 shares Common shares issued and outstanding as of March 31, 2026

Assets under management $1.58 trillion Total assets under management as of March 31, 2026

NCIB duration Up to 12 months From commencement date of the renewed normal course issuer bid

Expected NCIB start date May 29, 2026 Expected commencement, or earlier once OSFI and TSX approvals obtained

Key Terms

normal course issuer bid, Office of the Superintendent of Financial Institutions, issuer bid exemption orders, forward-looking statements, +1 more

5 terms

normal course issuer bid financial

"it intends to renew its normal course issuer bid to purchase up to 10,000,000 of its common shares"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

Office of the Superintendent of Financial Institutions regulatory

"subject to the approval of the Office of the Superintendent of Financial Institutions ("OSFI") and the Toronto Stock Exchange"

An Office of the Superintendent of Financial Institutions is a government regulator that supervises banks, insurers, pension plans and other federally regulated financial firms to keep them safe and sound. Its role matters to investors because it sets rules, performs exams and can require fixes or intervene to prevent failures—much like a building inspector for financial companies—so its actions influence a firm’s stability, regulatory risk and ultimately its share or bond value.

issuer bid exemption orders regulatory

"share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities"

Orders used when a company buys back its own shares under a regulatory exemption that lets the company complete repurchases with fewer formal steps or disclosures than a full, regulated tender offer. Investors care because these buybacks reduce the number of shares available, can push the share price up, change ownership proportions and voting power, and signal management’s view of the company’s value — think of a shop quietly removing items from sale to boost scarcity and price.

forward-looking statements regulatory

"Forward-Looking Statements From time to time, the Company makes written or oral forward-looking statements within the meaning of certain securities laws"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

equity settled incentive arrangements financial

"Any common shares purchased by the Company pursuant to the NCIB will be cancelled or used in connection with certain equity settled incentive arrangements"

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934

For the month of May 2026 Commission File Number: 001-15014

SUN LIFE FINANCIAL INC.

(Translation of registrant's name into English)

1 York Street, 31st Floor, Toronto, Ontario, M5J 0B6

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐ Form 40-F ☒

Exhibits		Description
99.1		News Release dated May 6, 2026

SIGNATURE

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 

		Sun Life Financial Inc. (Registrant)
Date: May 6, 2026		By:		/s/ “Kevin Armitage”
				Kevin Armitage
				AVP & Managing Counsel, Corporate Legal

Exhibit 99.1

 

Sun Life Announces Intention to Renew Normal Course Issuer Bid

TORONTO, May 6, 2026 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the "Company") announced today that, subject to the approval of the Office of the Superintendent of Financial Institutions ("OSFI") and the Toronto Stock Exchange (the "TSX"), it intends to renew its normal course issuer bid to purchase up to 10,000,000 of its common shares (representing approximately 1.8% of the 554,013,029 common shares issued and outstanding as at March 31, 2026) (the "NCIB"). The Company will file a notice of intention with the TSX in this regard.

The NCIB will provide the Company with the flexibility to acquire common shares in order to return capital to shareholders as part of its overall capital management strategy.

The NCIB is expected to commence on May 29, 2026, or such earlier date determined by the Company following receipt of applicable approvals by OSFI and the TSX, and will end at the latest on the date that is 12 months after the commencement of the NCIB. Purchases under the NCIB may be made through the facilities of the TSX, other Canadian stock exchanges, the New York Stock Exchange (the "NYSE") and/or alternative trading platforms in Canada and the United States, at prevailing market rates. Subject to regulatory approval, purchases under the NCIB may also be made by way of private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any purchases made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. The actual number of common shares purchased under the NCIB, and the timing of such purchases (if any), will be determined by the Company. Any common shares purchased by the Company pursuant to the NCIB will be cancelled or used in connection with certain equity settled incentive arrangements.

From time to time, when the Company does not possess material non-public information about itself or its securities, it may enter into a pre-defined plan with its broker to allow for the repurchase of common shares of the Company at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into with the Company's broker will be adopted in accordance with applicable Canadian and U.S. securities laws.

Forward-Looking Statements
From time to time, the Company makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements contained in this news release include statements (i) relating to the Company's potential normal course issuer bid (including, but not limited to, statements relating to the entrance into a pre-defined plan with its broker); (ii) that are predictive in nature or that depend upon or refer to future events or conditions, and (iii) that include words such as "intends", "expects", "will" and similar expressions. The forward-looking statements made in this news release are stated as at May 6, 2026, represent the Company's current expectations, estimates and projections regarding future events and are not historical facts. These statements are not a guarantee of future performance and involve assumptions and risks and uncertainties that are difficult to predict. Some of these assumptions and risks and uncertainties are described further in the Company's management's discussion and analysis for the year ended December 31, 2025 under the heading "Forward-looking Statements", in the risk factors set out in the Company's annual information form for the year ended December 31, 2025 under the heading "Risk Factors", and in the Company's interim management's discussion and analysis for the quarter ended March 31, 2026 under the heading "Risk Management", in the other factors detailed in the Company's annual and interim financial statements and in the Company's other filings with Canadian and U.S. securities regulators, which are available for review at www.sedarplus.ca and www.sec.gov, respectively. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking statements and there is no assurance that OSFI and/or the TSX will approve the NCIB or that any common shares will be purchased under the NCIB.

The Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law.

About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2026, Sun Life had total assets under management of $1.58 trillion. For more information, please visit www.sunlife.com.  

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars.

To contact Sun Life media relations, please email Media.Relations@sunlife.com.

To contact Sun Life investor relations, please email Investor_Relations@sunlife.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sun-life-announces-intention-to-renew-normal-course-issuer-bid-302764597.html

SOURCE Sun Life Financial Inc. - Financial News

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/06/c4244.html

%CIK: 0001097362

CO: Sun Life Financial Inc. - Financial News

CNW 17:02e 06-MAY-26

FAQ

What did Sun Life Financial Inc. (SLF) announce in this 6-K filing?

Sun Life announced its intention to renew a normal course issuer bid to repurchase up to 10,000,000 common shares. The program is part of its capital management strategy and is subject to approval by OSFI and the Toronto Stock Exchange before it can proceed.

How large is Sun Life’s planned normal course issuer bid relative to its shares outstanding?

The planned issuer bid would allow Sun Life to repurchase up to 10,000,000 common shares, representing about 1.8% of its 554,013,029 common shares outstanding as of March 31, 2026. This indicates a modest, targeted buyback relative to its overall equity base.

When is Sun Life’s renewed normal course issuer bid expected to start and how long can it run?

The issuer bid is expected to commence on May 29, 2026, or an earlier date once required approvals are received. It may continue for up to 12 months from its start date, giving Sun Life flexibility in timing any share repurchases during that period.

On which markets can Sun Life repurchase shares under the renewed issuer bid?

Sun Life may repurchase common shares on the Toronto Stock Exchange, other Canadian stock exchanges, the New York Stock Exchange, and alternative trading platforms in Canada and the United States. Purchases may also occur via private agreements or share repurchase programs under exemption orders.

What will Sun Life do with shares repurchased under the normal course issuer bid?

Any common shares repurchased under the bid will either be cancelled or used in connection with Sun Life’s equity-settled incentive arrangements. This approach can reduce the public float through cancellations while also supporting share-based compensation programs for employees and executives where appropriate.

How large is Sun Life’s business based on assets under management?

As of March 31, 2026, Sun Life reported total assets under management of $1.58 trillion. This figure reflects the scale of its global asset management, wealth, insurance and health solutions operations across multiple markets in North America, Europe and Asia-Pacific regions.

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-991 NEWS RELEASE DATED MAY 6, 2026 8.7 KB
• EX-991 PRINTER FRIENDLY VERSION 145.0 KB