Equifax Adopts Stock Repurchase Plan under Rule 10b5-1 for $250 Million in Common Stock
ATLANTA,- Equifax Inc. (NYSE: EFX) today announced that it has entered into a Rule 10b5-1 trading plan with a broker to facilitate the repurchase of up to $250 million of its shares of common stock under its previously announced share repurchase authorization.
Rule 10b5-1 allows a company to repurchase its shares at times when it might otherwise be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. The shares to be repurchased under Equifax’s 10b5-1 plan would be part of the share repurchase authorization approved by Equifax’s Board of Directors in February 2007 to repurchase up to a total of $650 million of its common shares in addition to the then-remaining previous authorization of $132.6 million.
The 10b5-1 share purchase period will commence on Monday, June 25, 2007. Purchases will be effected by a broker and will be based upon the guidelines and parameters of the 10b5-1 plan. The aggregate amount of shares purchased pursuant to the plan will not exceed $250 million (excluding commissions, taxes and other charges and expenses). There is no guarantee as to the exact number of shares that will be repurchased under the share repurchase program, and Equifax may discontinue purchases at any time.
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