Company: JBI
Filing Date: 2025-04-10
Form Type: PRE 14A
Source: 0001140361-25-013248
Chunk: 30

Company: Janus International Group, Inc.
Filing Date: 2025-04-10
Form: PRE 14A
Chunk 30
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 with the terms of Rule 10b-18. Share Repurchase Program In February 2024, our Board authorized a $100 million share repurchase program. Although our Board has authorized a share repurchase program and we have repurchased approximately $78.7 million of our common stock as of December 28, 2024, the share repurchase program does not obligate us to repurchase any specific additional dollar amount or to acquire any specific additional number of shares. The Company may repurchase shares from time to time through open market transactions made pursuant to Rule 10b-18 under the Exchange Act, in compliance with applicable state and federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including our assessment of the intrinsic value of the Company’s common stock, the market price of the Company’s common stock, general market and economic conditions, available liquidity, compliance with the Company’s debt and other agreements, applicable legal requirements, the nature of other investment opportunities available to the Company, and other considerations. The Company is not obligated to purchase any additional shares under the repurchase program, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company has funded and expects to continue to fund the repurchases by using cash on hand and expected free cash flow to be generated in the future. Hedging Transactions Pursuant to our Insider Trading Policy, we prohibit our employees, directors, and officers from engaging in hedging transactions, including the use of financial instruments such as prepaid variable forwards, equity swaps, collars, and exchange funds. Such hedging transactions may permit a director, officer, or employee to continue to own Company securities obtained through employee benefit plans or otherwise, but without the full risks and rewards of ownership. When that occurs, the director, officer, or employee may no longer have the same objectives as the Company’s other shareholders. Additionally, directors, officers, and other employees are prohibited from holding our securities in a margin account or otherwise pledging our securities as collateral for a loan. Stock Ownership Guidelines On August 29, 2023, the Compensation Committee approved stock ownership guidelines for the executive officers and directors, which provide target levels of stock ownership that executive officers and directors must attain. The target ownership level for our Chief Executive Officer is five times his annual base salary; for our named executive officers other than the Chief Executive Officer, the target level is