STRATASYS LTD
For the period ended Sep 16, 2024. Filed Sep 16, 2024.
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Sep 16, 2024 · Filed Sep 16, 2024
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Authorization of Share Repurchase Program
On September 16, 2024, Stratasys Ltd. (“Stratasys” or the “Company”) announced that the Company’s board of directors (the “Board”) has authorized a program for the Company’s repurchase of up to $50 million of the Company’s ordinary shares, par value 0.01 New Israeli Shekels per share (“ordinary shares”), from time to time.
Under the share repurchase program, Stratasys may effect repurchases by way of a variety of methods, including open market purchases, privately negotiated transactions or otherwise, all in accordance with U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). Stratasys may also, from time to time, enter into plans that are compliant with Rule 10b5-1 of the Exchange Act to facilitate repurchases of its ordinary shares under the Board authorization.
The repurchase program does not obligate the Company to acquire any particular number or value of ordinary shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.
In accordance with Section 7C of the Israeli Companies Regulations (Leniencies for Companies Whose Securities are Listed for Trading Outside of Israel), 5760-2000 (the “Leniency Regulations”), the share repurchase program is expected to go into effect 30 days after notice of Stratasys’ board of directors’ adoption of the repurchase program is provided to the Company’s material creditors and secured creditors (if any).
A copy of the press release by which the Company announced the repurchase program, which is entitled “Stratasys Announces Board Authorization of $50 Million Share Repurchase Program”, is furnished as Exhibit 99.1 hereto.
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