Exzeo announces $12 million stock repurchase program

Exzeo Group Inc. (NYSE: XZO) announced its board of directors authorized a new stock repurchase program to purchase up to $12 million of the company's common shares, subject to market conditions. The authorization became effective immediately.

The Tampa-based company also adopted a corresponding plan under Rule 10b5-1 of the Securities Exchange Act of 1934. Chief Executive Officer Paresh Patel said the repurchase program reflects confidence in the company's long-term value and noted that Exzeo generates positive cash flow while maintaining a debt-free balance sheet.

The repurchase program authorizes the company to buy back shares through open market purchases, block transactions, privately negotiated transactions, or other means using a Rule 10b5-1 trading program. Under this plan, a third-party broker will have authority to purchase shares in accordance with SEC regulations regarding price, market, volume, and timing constraints.

Exzeo stated it cannot predict the number of shares that will be purchased, as repurchases will depend on factors including constraints in the trading plan, price, and market conditions. The program does not obligate the company to acquire a specific number of shares and may be canceled or suspended at any time without notice.

Information regarding share repurchases will be disclosed in the company's future periodic reports filed with the SEC. Exzeo develops technology solutions for property and casualty insurance carriers, focusing on the homeowners insurance market through its Insurance-as-a-Service platform.

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