Benzinga | Nov 22, 2021 09:14AM EST

Aviat Announces Stock Repurchase Program Of Up To $10M Of Outstanding Common Stock

Aviat Networks, Inc. (NASDAQ:AVNW), the leading expert in wireless transport solutions, today announced that its Board of Directors has authorized a stock repurchase program. Under the program, Aviat Networks may purchase up to $10 million of its outstanding common stock. This program is in addition to our previous $7.5 million stock buyback program for which funds have been exhausted.

Under the stock repurchase program, the Company intends to repurchase shares through authorized Rule 10b5-1 plans (which would permit the Company to repurchase shares when the Company might otherwise be precluded from doing so under insider trading laws), open market purchases, privately negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934.

The Company may choose to suspend or discontinue the repurchase program at any time. The repurchase program does not obligate the Company to purchase any number of shares.

As of October 31, 2021, Aviat had 11.2 million shares of common stock outstanding.