Superior Group announces $17.5M stock repurchase plan

The Board of Directors approved a new stock repurchase plan which authorizes the Company to repurchase up to an additional $17.5 M worth of its common stock. This plan will be in effect upon completion or expiration of the previous plan approved by the Board of Directors on August 12 which had authorized the repurchase of up to $10 million and through which the Company had purchased 523,472 shares for $7.4M through year-end 2024. The new stock repurchase plan, which has no expiration date, allows the Company to purchase common stock from time to time through, among other ways, open market purchases, privately negotiated transactions, block purchases, and/or pursuant to Rule 10b5-1 trading plans, subject to certain requirements and factors. The number of shares purchased and the timing of any purchases will depend upon a number of factors, including the price and availability of the Company’s stock and general market conditions. Shares repurchased may be reissued later in connection with employee benefit plans and other general corporate purposes.