Business
Motorcar Parts of America Adopts 10b5-1 Share Repurchase Plan
LOS ANGELES, March 27, 2025--Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced the company has adopted a written trading plan under Rule 10b5-1 of the Securities and Exchange Commission rule to facilitate share repurchases under its current $37 million authorized program, with $16.2 million available as of December 31, 2024.
About this update from Motorcar Parts Of America, Inc.
[{"type":"text","content":"LOS ANGELES, March 27, 2025--(BUSINESS WIRE)--Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced the company has adopted a written trading plan under Rule 10b5-1 of the Securities and Exchange Commission rule to facilitate share repurchases under its current $37 million authorized program, with $16.2 million available as of December 31, 2024.","length":356,"tagName":"p"},{"type":"text","content":"As disclosed in the company’s 10-Q filing for its fiscal third quarter ended December 31, 2024, the company repurchased 268,130 shares for $2.1 million at an average share price of $7.82 during the open trading window.","length":218,"tagName":"p"},{"type":"text","content":"The adoption of a 10b5-1 plan allows Motorcar Parts of America the ability to repurchase shares when it would be ordinarily restricted from purchases due to blackout periods or being in possession of material non-public information.","length":232,"tagName":"p"},{"type":"text","content":"Under the rules of the 10b5-1 plan, the company may commence share repurchases as permitted and continue until it reaches the limits of its authorized 10b5-1 plan. The 10b5-1 share repurchases are subject to certain price, market, volume and timing constraints specified in the plan. The company may terminate the plan at any time. It is not required to purchase shares and there can be no assurance that any shares will be repurchased.","length":436,"tagName":"p"},{"type":"text","content":"About Motorcar Parts of America","length":31,"tagName":"p"},{"type":"text","content":"Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing sol...