Vontier announces $100M accelerated share repurchase program

Vontier announced that it has entered into an accelerated share repurchase agreement, or ASR, with Goldman Sachs, to repurchase $100M of Vontier’s common stock. The ASR transactions will be completed as part of Vontier’s existing $500M share repurchase authorization which was announced in May 2021 and replenished in May 2022, and had approximately $290M remaining as of August 1. The final number of shares to be repurchased will be based on the daily volume-weighted average price of Vontier’s common stock during the term of the ASR, less a discount and subject to adjustments pursuant to the terms of the ASR. Vontier expects to fund the repurchases with available cash on-hand and expects the ASR transactions will be settled during the third quarter of 2024.