Hey Adam, more investors like you and wouldn't need a buyback, but just for the record, they make a bid for the quantity of shares they're buying back with the underwriter or whoever distributes the shares(bank) and they simply retire at will. It doesn't matter what the current pps is. SEC gives em the green light, they make a bid, come up with an agreement, then pay the fee, deal is done no matter what the current values are. They can retire shares no matter what the current values are, because they already paid for em. IF they did it or are going to, of course.
