Potbelly Corporation Announces New $30 Million Share Repurchase Program
September 08 2016 - 5:48PM
Potbelly Corporation (NASDAQ:PBPB) announced today that its Board
of Directors has authorized a new share repurchase program for up
to $30 million of the Company’s common stock. The Company’s
previous $35 million share repurchase program, authorized in
September 2015, was completed in July 2016. The timing and
volume of share repurchases will be determined by the Company's
management based on its ongoing assessments of the capital needs of
the business, the market price of its common stock and general
market conditions. No time limit has been set for the completion of
the share repurchase program, and the program may be suspended or
discontinued at any time. The share repurchase program authorizes
the Company to purchase its common stock from time to time through
open market purchases, negotiated transactions or other means,
including 10b5-1 trading plans in accordance with applicable
securities laws and other restrictions.
About Potbelly
Potbelly Corporation is a fast-growing
neighborhood sandwich concept offering toasty warm sandwiches,
signature salads and other fresh menu items served by engaging
people in an environment that reflects the Potbelly brand. Our
Vision is for our customers to feel that we are their "Neighborhood
Sandwich Shop" and to tell others about their great experience. Our
Mission is to make people really happy and to improve every day.
Our Passion is to be "The Best Place for Lunch." The Company owns
and operates over 350 shops in the United States and our
franchisees operate over 30 shops domestically, in the Middle East
and in the United Kingdom. For more information, please visit our
website at www.potbelly.com.
Contact:
Investor Relations
Investors@Potbelly.com
312-428-2950
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