Mobileye announces share repurchase program of up to $250M

Mobileye (MBLY) has authorized a program to repurchase up to $250M of Mobileye’s outstanding Class A common stock. The repurchase program is intended to partially offset dilution associated with share-based compensation and shares issued in connection with the Mentee Robotics acquisition, while maintaining financial flexibility. Mobileye does not intend to directly repurchase shares of its Class A or Class B common stock for cash from related parties, including, but not limited to, Intel Corporation, under the Repurchase Program. The repurchase program does not obligate Mobileye to repurchase any specific dollar amount or number of shares, has no fixed expiration date and may be modified, suspended or discontinued at any time at Mobileye’s discretion. Mobileye currently expects to fund the repurchase program from existing cash on hand and future cash flows.