Buybacks, treasury and retirement

Methods and settings

Select the share class and sellers

Add Buyback, choose an outstanding class and size method. All external holders allocates repurchases pro rata across eligible holdings of that class. Selected holders/public float restricts the seller group and allocates pro rata within it. The quantity cannot exceed available seller holdings or class availability. A company-wide percentage uses total outstanding shares, so check that the chosen class/sellers can supply the resulting quantity.

Choose treasury or immediate retirement

Keep as treasury leaves issued shares unchanged, increases treasury and decreases outstanding shares. Cancel/retire immediately decreases issued and outstanding shares without increasing treasury. Both reduce seller holdings. Cash used equals repurchased shares × price; cash-based sizing requires a positive price, while a quantity-only analysis can leave price blank and cash unavailable.

Cancel treasury later

Treasury cancellation removes existing treasury shares: issued and treasury fall by the same amount, while outstanding is unchanged. It does not pay sellers again or create a second company cash outflow. With 1,000 issued and 100 treasury, cancelling 40 leaves 960 issued,60 treasury and the same 900 outstanding. Cancellation cannot exceed the class’s treasury balance.

Interpret ownership accretion

A holder keeping 100 shares while outstanding falls from 1,000 to 900 rises from 10% to 11.111%: +1.111 percentage points and 11.111% relative ownership accretion. This is not EPS accretion or a statement that the repurchase creates economic value. The allocation-value treatment may subtract company cash or hold value fixed, so review both percentage and holder-value outputs.

Review before applying

Use the before/after holder and share bridges, then Apply closing only when the full active sequence is intended. These are supplied-price share calculations, not market-order execution. Cash remains an Ownership analysis output; neither a buyback preview nor applying shares automatically reduces Model cash.

When company cash must reach the statements

The transactions described here remain an ownership comparison; Apply closing updates the ownership ledger, not financial statements. For dated company buybacks or primary issuance linked to Cash, Financing Cash Flow, equity and DCF shares, use Listed Shares & Capital Returns. Do not enter the same financial cash event twice. A secondary holder transfer still creates no company proceeds.