It wasn't a buyback in the first place - it is shares that were not in trade - 'reserved' shares - that they had to get control of before they could be retired. So, while the OS will reduce when this happens, it is not as if TGGI is 'buying' shares off the market. These shares have never hit the market. It will not change the amount of dilution we all experience, because no one 'owns' those additional shares.