UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) Files An 8-K Other Events
Item 8.01 Other Events
UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) Files An 8-K Other Events
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Item 8.01 Other Events
Share Repurchase Program
On March 10, 2020, the Board of Directors of Universal Electronics Inc. (the “Company”) authorized a new share repurchase program (the “Share Repurchase Program”), which replaces in its entirety the Company’s previous repurchase program in place prior to March 10, 2020. to the Repurchase Program, until May 7, 2020, the Company may, from time to time, repurchase up to 300,000 shares of its common stock in privately negotiated and/or open-market transactions, including to plans complying with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934. The Share Repurchase Program does not obligate the Company to repurchase any shares of its common stock, and any repurchases of shares will be subject to market and other conditions and may be discontinued at any time.
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About UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC)
Universal Electronics Inc. (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers. Its offerings also include software, firmware and technology solutions that enable devices, such as televisions, set-top boxes, stereos, smart phones tablets, gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services.