Open-market buyback
A form of repurchase in which the issuer or its subsidiary buys its own shares through ordinary exchange orders.
How to read the number
It proceeds gradually and is reversible: the programme can be slowed or stopped, and the block acquired can return to the market later.
When the metric lies
Demand from the issuer supports the quote only while buying continues; when the programme ends, so does that support.
Also known as: open market buyback