VENICE, Fla.–(BUSINESS WIRE)– PGT Innovations, Inc. (NYSE: PGTI), a national leader in the premium window and door category, today announced that its board of directors has authorized the repurchase of up to $30 million of PGT Innovations’ common stock.
PGT Innovations expects that any stock repurchases will be funded through available cash. The repurchases may be made in open market or private transactions from time to time. Repurchases of shares may be made under a Rule 10b5-1 plan, which would permit repurchases when the Company might otherwise be precluded from doing so under insider trading laws. The Company will base future repurchase decisions, including the timing of any such repurchases, on such factors as PGT Innovations’ stock price, general economic and market conditions, the potential impact on its capital structure, the expected return on competing uses of capital such as strategic acquisitions and capital investments, and other corporate considerations, as determined by management. PGT Innovations gives no assurance as to the amount of repurchases to be made or the actual purchase prices, and any repurchase program may be suspended or discontinued at any time.
