Company: TRUE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001327318-25-000065
Chunk: 218

Company: TrueCar, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 218
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— — —    Unvested PSUs138 — — — Dilutive potential common shares412 — — — Weighted average common shares outstanding, diluted88,938 90,323 87,903 91,133 Net income (loss) per share, basic$0.06 $(0.06)$(0.15)$(0.28)Net income (loss) per share, diluted$0.06 $(0.06)$(0.15)$(0.28)The following table presents the number of anti-dilutive shares excluded from the calculation of diluted income (loss) per share at September 30, 2025 and 2024 (in thousands): September 30, 20252024Options to purchase common stock1,184 1,345 Unvested restricted stock units5,206 5,987 Unvested performance stock units3,147 3,254 Total shares excluded from net income (loss) per share9,537 10,586 Share Repurchase ProgramIn July 2020, the Company’s board of directors originally authorized an open market stock repurchase program (the “Program”). In February 2024, the Company’s board of directors increased the remaining authorization of the Program to $100.0 million and extended the expiration date of the Program to December 31, 2026. The timing and amount of any repurchases under the Program will be determined by Company management based on its evaluation of market conditions and other factors. Repurchases of the Company’s common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws, open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws. The Program may be suspended or discontinued at any time and does not obligate the Company to purchase any minimum number of shares. The Company had no share repurchases during the nine months ended September 30, 2025. Between June 2024 and the end of December 2024, the Company repurchased and retired a total of 6.1 million shares under the 

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Program for $20.0 million, which excludes excise tax imposed under the Inflation Reduction Act of $0.1 million. As of September 30, 202