Tyler Technologies adopts trading plan to repurchase up to $260 million of stock
Tyler Technologies sets up a Rule 10b5-1 trading plan to buy back common stock through late October.
Tyler Technologies Inc. (TYL) entered into a Rule 10b5-1 trading plan with a brokerage firm to repurchase up to $260.0 million of its common stock, according to a regulatory filing Monday. Share repurchases under the plan may commence Sept. 16, 2026, and will end Oct. 29, 2026.
Key takeaways
- Tyler Technologies adopted a Rule 10b5-1 trading plan to repurchase up to $260.0 million of common stock.
- Repurchases under the plan run from Sept. 16, 2026, through Oct. 29, 2026.
- As of Sept. 15, 2026, the company has remaining authorization to repurchase up to $1.416 billion of common stock.
- Repurchases are generally funded using existing cash balances and borrowings under the company credit facility.
Plan terms and background
The share repurchase program was originally announced in October 2002 and was amended through 2026. On Feb. 3, 2026, the board of directors authorized the repurchase of up to $1.0 billion of common stock, replacing previous authorizations. The board authorized an additional $1.5 billion share repurchase plan on July 24, 2026. The program allows the company to repurchase shares at its discretion with no expiration date specified for the authorization.
Rule 10b5-1 compliance
The trading plan is intended to comply with Rule 10b5-1 of the Securities Exchange Act of 1934 and the company insider trading policy. Rule 10b5-1 permits issuers that have determined in good faith that they are not in possession of material nonpublic information to establish prearranged written stock trading plans. Subsequent receipt of material nonpublic information will not prevent prearranged transactions under the plan from being executed.
Why it matters
Rule 10b5-1 plans allow companies to execute share buybacks during periods when they might otherwise be restricted from trading due to possessing material nonpublic information. The plan sets a concrete timeline and dollar limit for repurchases ahead of the company's usual reporting schedule.
By the numbers
| Metric | Value | Source |
|---|---|---|
| Maximum repurchase value | $260.0 million | 8-K filing |
| Plan start date | Sept. 16, 2026 | 8-K filing |
| Plan end date | Oct. 29, 2026 | 8-K filing |
| Remaining board authorization | $1.416 billion | 8-K filing |
Remaining authorization and funding sources
Tyler Technologies funds its share repurchases using existing cash balances and borrowings under its credit facility. The board of directors previously authorized the company to enter into one or more Rule 10b5-1 trading plans for share repurchases. The current $260.0 million plan draws down a portion of the $1.416 billion remaining under the overall board authorization as of Sept. 15, 2026.