Silicon Motion announces new $200M share repurchase program
Silicon Motion announced that its Board of Directors has authorized a new program for the company to repurchase up to $200M of its ADS over a 12 month period. Separately, Silicon Motion executive officers have notified the company that they intend to purchase $2.5M of its ADSs. The plan does not obligate the company to acquire any particular amount of ADS, and it may be suspended at any time at the company's discretion. The company's CEO, CFO and several other executive officers have notified us of their intention to acquire within the next 6 months a total of up to $2.5M of the company's ADSs, subject to compliance with relevant securities laws and regulations and company policies.