UTG Inc. Authorizes New Stock Repurchase Program

TL;DR

UTG Inc. just authorized a new buyback program, signaling confidence.

AI Summary

UTG Inc. announced on December 27, 2024, that its Board of Directors has authorized a new stock repurchase program. The company has not yet disclosed the total dollar amount or number of shares authorized for this program, nor has it set an expiration date.

Why It Matters

This indicates management's belief that the company's stock is undervalued, potentially signaling confidence in future performance and aiming to return value to shareholders.

Risk Assessment

Risk Level: low — The filing is a routine announcement of a stock repurchase program without immediate financial implications or significant changes in business operations.

Key Players & Entities

• UTG Inc. (company) — Registrant
• December 27, 2024 (date) — Date of Report
• Board of Directors (company) — Authorized stock repurchase program

FAQ

Key Financial Figures

• $1,000,000 — se program and authorized an additional $1,000,000 for the repurchase of shares under the
• $23 million — mpany is authorized to repurchase up to $23 million of the Company's common stock in the op
• $20,839,555 — ecember 26, 2024, the Company has spent $20,839,555 in the acquisition of 1,380,820 shares,
• $2,160,445 — cquisition of 1,380,820 shares, leaving $2,160,445 available for the repurchase of additio

Filing Documents

• utg8k20241227.htm (8-K) — 22KB
• 0000832480-24-000022.txt ( ) — 143KB
• utgn-20241227.xsd (EX-101.SCH) — 4KB
• utgn-20241227_lab.xml (EX-101.LAB) — 20KB
• utgn-20241227_pre.xml (EX-101.PRE) — 14KB
• utg8k20241227_htm.xml (XML) — 4KB

01. Other Events

Item 8.01. Other Events. Stock Repurchase Program – The Board of Directors of UTG, Inc. (the "Company") has authorized the repurchase in the open market or in privately negotiated transactions of shares of the Company's common stock. As previously authorized, open market purchases are made based on the last available market price but may be limited. Company Management has broad authority to operate the program, including the discretion of whether to purchase shares and the ability to suspend or terminate the repurchase program. Management suspended repurchases under the program on November 1, 2024, as reported in the Company's Form 10-Q for the quarter ended September 30, 2024. At meetings held on December 11 and 27, 2024, the Board of Directors of the Company reinstituted the repurchase program and authorized an additional $1,000,000 for the repurchase of shares under the program. As reinstituted and updated by the Board of Directors, the Company is authorized to repurchase up to $23 million of the Company's common stock in the open market or in privately negotiated transactions. Through December 26, 2024, the Company has spent $20,839,555 in the acquisition of 1,380,820 shares, leaving $2,160,445 available for the repurchase of additional shares under this program. At its meeting on December 27, 2024, the Board of Directors of the Company also authorized the adoption of a trading plan pursuant to which shares of the Company's common stock may be repurchased in the open market as a part of the Company's repurchase program. The trading plan will be executed in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Repurchases pursuant to a trading plan under Rule 10b5-1 are permitted when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. A broker selected by the Company has been delegated the authority to repurchase shares on the Company's behalf in

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UTG, INC. Date: December 27, 2024 By: /s/ Theodore C. Miller Theodore C. Miller Senior Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR