Replies to post #93096 on Savvy Trades and Investments

[swampboots]

HCDI (2.80): If this repurchase program last month still holds, it is even closer to being no brainer in long run? If true no dilution fear but they are not liable if they change mind?

The Board of Directors of Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW, HCDIZ) on November 3, 2021, approved a new stock repurchase program authorizing the repurchase of up to $5 million worth of shares of common stock beginning November 22, 2021, and continuing through May 22, 2022. The amount of the repurchase program represents approximately 17% of the outstanding shares of the Company’s common stock valued at the closing price on November 3, 2021.
“The Board’s decision to authorize a stock repurchase plan demonstrates their confidence in Harbor’s business and growth opportunities we see over the long term,” said Harbor President and CEO, Sterling Griffin.

The Company authorized management to enter into the trading plan with Piper Sandler in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, to facilitate repurchases of its common stock pursuant to the above-mentioned stock repurchase program (the “Plan”). The Plan allows the Company to execute trades during periods when it would ordinarily not be permitted to do so because it may be in possession of material non-public information because of insider trading laws or self-imposed trading blackout periods. Under the Plan, Piper Sandler has the authority, under the prices, terms, and limitations set forth in the Plan, to execute repurchases of shares of common stock for the Company. All shares of common stock repurchased will be retired and returned to authorized but unissued status.