BlackBerry Plans Share Buyback to Offset Employee Incentives
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BlackBerry Ltd. plans to buy back and cancel as many as 12 million shares, or 2.6 percent of its public float, to offset a new employee share purchase plan.
The employee stock plan, which will increase the amount of shares available for compensation, will be presented for approval at the company’s annual general meeting on June 23, BlackBerry said Thursday in a statement. The shares climbed 2.2 percent to $12.81 at 1:43 p.m. in Toronto.