Latest news with #Rule10b5-1
Business Wire
2 days ago
- Business
- Business Wire
Backblaze Announces $10 Million Share Repurchase Program
SAN MATEO, Calif.--(BUSINESS WIRE)--Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced that its Board of Directors authorized a share repurchase program to purchase up to $10 million of shares of its common stock through August 1, 2026. With the company on track to turn Adjusted Free Cash Flow positive in Q4 of 2025, using cash from employee exercised stock options and purchases under the Employee Stock Purchase Plan to buy back common stock in the market will help preserve the cash balance of the company, while reducing equity dilution. 'With our progress solidifying our Balance Sheet, and our acceleration of our B2 Cloud Storage growth, we are now expanding our focus to manage our equity dilution from stock compensation. When looking at our metrics, we are excited about the pace of improvement across key pillars to transform our financial model, including liquidity, free cash flows and revenue growth acceleration,' said Marc Suidan, Chief Financial Officer. The program will be funded through the cash proceeds from stock options exercised by employees and employee purchases under the Employee Stock Purchase Plan, which is intended to be cash neutral to the company. The shares may be repurchased from time to time in open market transactions, privately negotiated transactions, or by other means, including automatic purchase plans pursuant to Rule 10b5-1, in accordance with applicable securities laws. The timing, number of shares repurchased, and prices paid for the shares under this program will be generally determined by management based on its evaluation of general business and market conditions as well as corporate and regulatory limitations, prevailing stock prices, and other considerations. The Share Repurchase Program may be suspended, modified, or discontinued at any time and does not obligate the Company to acquire any particular amount of common stock. About Backblaze Backblaze is the cloud storage innovator delivering a modern alternative to traditional cloud providers. We offer high-performance, secure cloud object storage that customers use to develop applications, manage media, secure backups, build AI workflows, protect from ransomware, and more. Backblaze helps businesses break free from the walled gardens that traditional providers lock customers into, enabling them to use their data in open cloud workflows with the providers they prefer at a fraction of the cost. Headquartered in San Mateo, CA, Backblaze (NASDAQ: BLZE) was founded in 2007 and serves over 500,000 customers in 175 countries around the world. For more information, please go to
Business Wire
3 days ago
- Business
- Business Wire
EnerSys Announces $1 Billion Increase to Stock Repurchase Authorization and 9% Dividend Increase
READING, Pa.--(BUSINESS WIRE)-- EnerSys (NYSE: ENS), a global leader in stored energy solutions announced today that its Board of Directors has approved a $1 billion increase to its stock repurchase authorization, to be executed over the next five years. This authorization brings the Company's total outstanding repurchase authorization to an aggregate of $1.06 billion, including $58 million available under the Board's previous repurchase authorizations. Additionally, the Company announced that its Board of Directors has raised its quarterly cash dividend for the third consecutive year, with an increase of 9% to $0.2625 per share of common stock. The dividend is payable on September 26, 2025, to holders of record as of September 12, 2025. 'These announcements highlight EnerSys' proactive and disciplined approach to capital allocation and our confidence in our long-term strategy,' said Shawn O'Connell, EnerSys President and Chief Executive Officer. 'Our earnings growth, strong cash flow, and solid balance sheet enable us to continue investing in long-term growth while returning more capital to shareholders. The increased stock repurchase authorization reflects our belief in the value of the Company and our growth trajectory. At the same time, we are committed to maintaining a competitive dividend that grows with our earnings, excluding the effects of 45X benefits. During this period of macro uncertainty, we intend to keep our leverage below the low end of our target range, retaining a prudent level of dry powder for future capital allocation optionality.' The authorized repurchases shall be made from time to time in either the open market or through privately negotiated transactions. The timing, volume and nature of share repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws, and other factors, and may be suspended or discontinued at any time. No assurance can be given that any particular amount of common stock will be repurchased. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when EnerSys might otherwise be prevented from doing so under insider trading laws or because of self-imposed blackout periods. This repurchase program shall be in effect for a period of five years from its adoption unless otherwise modified or terminated by the Board. About EnerSys EnerSys is a global leader in stored energy solutions for industrial applications and designs, manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. The company goes to market through four lines of business: Energy Systems, Motive Power, Specialty and New Ventures. Energy Systems, which combine power conversion, power distribution, energy storage, and enclosures, are used in the telecommunication, broadband, and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, portable power solutions for soldiers in the field, large over-the-road trucks, premium automotive, medical and security systems applications. New Ventures provides energy storage and management systems for various applications including demand charge reduction, utility back-up power, and dynamic fast charging for electric vehicles. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. To learn more about EnerSys please visit Caution Concerning Forward-Looking Statements This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys' earnings estimates, intention to return capital to stockholders, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as 'believe,' 'plan,' 'seek,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'will,' and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, continuing to pay cash dividends at the current rate, earnings or earnings per share growth, its intention to pay quarterly cash dividends and return capital to stockholders, execution of its stock repurchase program, and market share, as well as statements expressing optimism or pessimism about future operating results or benefits from either its cash dividend or its stock repurchase programs, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management's current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond EnerSys' control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release. Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. For a list of other factors which could affect EnerSys' results, including earnings estimates, see EnerSys' filings with the Securities and Exchange Commission, including 'Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,' and 'Forward-Looking Statements,' set forth in EnerSys' Annual Report on Form 10-K for the fiscal year ended March 31, 2025. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. No undue reliance should be placed on any forward-looking statements.
CNBC
5 days ago
- Business
- CNBC
Insider report: The stocks with the biggest recent sales by executives include United Airlines, Charles Schwab and NXP Semiconductors
Company insiders at United Airlines, NXP Semiconductors and Charles Schwab made some notable stock sales last week. Investors may follow moves by company executives and officers to gauge what may be happening within the businesses. However, the motivations behind executive stock sales can vary. The data comes from VerityData and is confirmed against the original Securities and Exchange Commission filings. These are focused on discretionary activity and exclude those in which the filing explicitly says the sale was conducted pursuant to pre-planned transactions under Rule 10b5-1. Here are some of the biggest sales from the last week: Investor Dean DeSantis, a 10% owner of Celsius, sold 200,000 shares at an average price of $47.50 for a total of $9.5 million. Shares of Celsius are up more than 71% this year and have rallied about 31% over the past three months. Its rally this year comes after the stock's disappointing performance in 2024, when it lost more than 50%. Walter Bettinger, the former CEO and current co-chairman at Charles Schwab since 2022, sold 173,900 shares at an average price of $98.84 a piece. That makes for a total of $17.19 million. Shares of the financial services company have rallied more than 16% over the past three months. The stock is up about 31% this year. William Betz, chief financial officer of NXP Semiconductors, generated $1.54 million after selling 6,800 shares for an average price of $227.34 per share. The sale reduced Betz's holdings by 82%. The semiconductor company's shares have gained about 12.7% over the past three months. Still, the stock is down more than 9.5% year to date. Robert J. Simmons, chief financial officer of airline company SkyWest, sold 17,200 shares at an average price of $117.46 per share, for a total of $2.02 million. The sale reduced Simmons' holdings by 13%. According to Verity, Simmons is one of several SkyWest executives who have sold $6 million in shares over the past 30 days. Shares of SkyWest are up about 16.5% over the past three months and more than 9% this year. United Airlines' chief financial officer Michael D. Leskinen unloaded 23,000 shares at an average price of $91.43 per share. The sale totaled to $2.1 million, and reduced Leskinen's holdings by 55%. Leskinen is one of a number of United Airlines insiders selling $6.2 million in shares over the past 30 days, according to Verity. Shares of the airline operator have gained more than 16% over the past three months. The stock has had a lackluster year, however, losing more than 11% year to date. Michael Skipworth, chief executive officer of Wingstop, sold 4,500 shares at an average price of $370.34 each, for a total of $1.67 million. The sale reduced Skipworth's holdings by 10%. Shares of the fast-food chain have jumped about 31% over the past three months, bringing its year to date gains to nearly 25%.
Time of India
5 days ago
- Business
- Time of India
Amazon founder Jeff Bezos loses $17 billion after Amazon's earnings; what may have triggered the fall
Amazon founder lost $17 billion last week. According to the Bloomberg Billionaire Index, the tech billionaire's wealth dropped from $254 billion on July 31 to $237 billion on August 1. Tired of too many ads? go ad free now The decline comes following the company's second quarterly results last week. According to a Benzinga report, investors were unimpressed with the company's second-quarter earnings as the company's stock tumbled by 8.27% on August 1. Amazon reported $167.7 billion in revenue for the second quarter, a 13% increase compared to the same period last year. This figure exceeded market expectations, which had forecast revenue of $161.9 billion. The company also posted earnings of $1.68 per share, beating analyst estimates of $1.30 per share. However, the slowdown in Amazon's AWS cloud computing business has been identified as a key factor behind the investor's concern. AWS reported $10.2 billion in sales for the quarter, marking a 17.5% year-on-year increase. However, this fell short of analysts' expectations of 20% growth. Amazon shares make up a significant portion of Jeff Bezos' net worth. He owns 884 million shares, representing 8.3% of the company's total outstanding shares. Based on the current market price, these shares are valued at $190 billion. The remainder of his wealth is tied to Blue Origin, his privately-held space exploration company, which is valued at its investment cost. Jeff Bezos sells Amazon shares Jeff Bezos has been on a stock selling spree recently. In early July, he offloaded approximately $737 million worth of Amazon stock. Tired of too many ads? go ad free now In the same month, he sold another 6.6 million shares of the company. In the past two years, Jeff Bezos has sold around $4.8 billion worth of the company's stocks. The latest transaction took place on July 21 and 22. The sale was executed under the prearranged trading plan known as Rule 10b5-1. Google Pixel 10 launch: Time, date and what to expect
Economic Times
31-07-2025
- Business
- Economic Times
Nvidia Executives Colette Kress and Jay Puri Join Billionaire Ranks Amid AI Stock Surge
Reuters A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. REUTERS/Mike Blake/File Photo Nvidia billionaires: The relentless rise of Nvidia has driven two of the company's top executives into the billionaire ranks, joining their boss, CEO Jensen Huang, as some of the most richly rewarded figures in tech, as per a Kress, Nvidia's Chief Financial Officer, and Jay Puri, Executive Vice President of Worldwide Field Operations, have both crossed into 10-figure territory in net worth, according to Bloomberg's Billionaires Index. Their fortunes come due to their massive holdings in Nvidia stock, which has surged nearly 70% over the past year and 27% in 2025 alone, pushing the chipmaker's market cap past $4 trillion, as reported by Fortune. For Kress, the path to billionaire status is paved with patience and stock. On July 15, Kress sold just over 27,000 shares for roughly $171 apiece, raking in $4.7 million, as reported by Fortune. Yet, even after that sale, SEC filings reveal she still holds nearly 3 million shares directly, as per the Fortune report. Along with that, Kress also holds hundreds of thousands of Nvidia shares that are indirectly retained through trusts or immediate family members, according to the report. ALSO READ: Asteroid 2024 YR4 may smash into moon, wipe out 10,000 satellites, and trigger meteor showers on earth Even Puri's fortune tells a similar story. Though he directly holds around 634,000 shares, worth over $108 million, he holds more wealth via indirect ownership, as per the Fortune report. Puri controls roughly 20 million shares through various trusts, plus another 46,000 held in a children's trust under his care, according to the report. Both executives sold their shares through pre-planned Rule 10b5-1 trading plans, which are designed to prevent accusations of insider trading, as per Fortune. These plans lock in trade dates, volumes, and prices based on formulas rather than discretion, and must be executed by independent third parties, according to the Nvidia founder and CEO Jensen Huang, whose own net worth has ballooned to $153 billion, surpassed even billionaire investor Warren Buffett, as per Fortune. Huang is famously known to be obsessed with work, he claims he can't even watch a movie without thinking about the company, but he's just as focused on rewarding those who help build it, according to the report. Huang said recently during a panel hosted by venture capitalists running the All-In podcast, saying, 'I've created more billionaires on my management team than any CEO in the world. They're doing just fine,' and added that, 'Don't feel sad for anybody at my layer. My layer is doing just fine,' quoted also revealed that he makes sure that his key personnel are being compensated appropriately and also look at all employees' pay, as reported by Fortune. Huang told the panel this month, 'I review everybody's compensation up to this day. I sort through all 42,000 employees, and 100% of the time I increase the company's spend on [operating expenses]. And the reason for that is because you take care of people, everything else takes care of itself,' as quoted in the Fortune are Nvidia's newest billionaires?Colette Kress (CFO) and Jay Puri (EVP of Worldwide Field Operations) have both become billionaires, largely due to their Nvidia stock holdings. What is Rule 10b5-1? It's a legal framework that allows executives to sell stock through pre-set plans to avoid insider trading accusations.
