Subsequent Events

9 Months Ended

Sep. 30, 2023

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Litigation and regulatory matters

On October 17, 2023, as disclosed immediately above, the Company was awarded $4.3 million in attorneys’ fees and costs in relation to litigation pursued by the Washington AG. Funds were received by the Company on November 8, 2023. The Company intends to donate $1.0 million of the $4.3 million award to its donor-advised charitable funds.

Share Repurchase Authorization

The Company announced on November 9, 2023 the authorization of a share repurchase program of up to $50.0 million of the Company’s common stock. Under the program, Savers may purchase shares from time to time in compliance with applicable securities laws, that may include Securities Act Rule 10b-18. The program is currently set to expire on November 8, 2025. The timing and amount of any shares purchased will be based upon a variety of factors, including the share price of the common stock, general market conditions, alternative uses for capital, Savers’ financial performance, and other considerations. The share repurchase program does not obligate Savers to purchase any minimum number of shares, and the program may be suspended, modified, or discontinued at any time without prior notice. Any repurchases will be funded by available cash and cash equivalents.