EverQuote's Board of Directors has authorized a new share repurchase program, allowing the company to buy back up to $50 million of its outstanding Class A common stock. To facilitate this and other strategic initiatives, the company also entered into an amendment to its credit agreement with Western Alliance Bank.
Key Details
- Repurchase Program: The Board authorized the repurchase of up to $50 million of Class A common stock, with no set expiration date. Purchases can be made via open market transactions or privately negotiated deals.
- Credit Agreement Amendment: On October 21, 2026, the company amended its credit facility to permit share repurchases up to an aggregate amount of $75 million and certain investments up to an aggregate amount of $15 million.
- Discretionary Nature: The company is not obligated to acquire any specific amount of stock, and the program may be modified, suspended, or terminated at any time.