First Capital, Inc.'s Board of Directors entered into a Joint Rule 10b5-1/Rule 10b-18 Plan Agreement to enhance its stock repurchase program. This plan authorizes the company's designated broker to repurchase up to 113,236 shares of common stock.
The repurchase period for these shares will commence on September 4, 2025, and conclude on August 28, 2026, unless terminated earlier. This plan operates under the company's existing repurchase authorization, which was approved on August 19, 2008, for up to 240,467 shares.
Michael C. Frederick, President and Chief Executive Officer, stated that this move introduces additional flexibility into the existing plan, aligning it with the company’s long-term capital allocation strategy. The decision reflects the Board’s confidence in the company’s value and its commitment to delivering value to shareholders.
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