PCB Bancorp announced on September 28, 2026, that its Board of Directors has approved a new share repurchase program. Under the authorization, the company is permitted to repurchase up to 700,000 shares of its common stock.
The repurchase program allows the company to acquire shares through various methods, including open market transactions, block purchases, and privately negotiated transactions. The specific timing, manner, price, and amount of any repurchases will be determined at the company's discretion, subject to factors such as stock price, trading volume, general market conditions, and the company's business status.
The authorization is valid through September 22, 2027. The company notes that the program may be modified, discontinued, or suspended at any time without prior notice and does not obligate the company to purchase any specific number of shares.
As part of the program, PCB Bancorp intends to enter into a trading plan in accordance with Rule 10b5-1 of the Exchange Act. This plan is designed to allow for the repurchase of stock at times when the company might otherwise be restricted by insider trading laws or self-imposed trading limitations. The plan will be administered by an independent broker and will be subject to price, market volume, and timing restrictions.
