Cornerstone Announces $150 Million Share Repurchase Program
SANTA MONICA, Calif. – Aug. 22, 2019 - Cornerstone OnDemand, Inc. (NASDAQ: CSOD), a global leader in cloud-based learning, talent management and talent experience software, today announced that its Board of Directors has approved a new share repurchase program under which the Company is authorized to repurchase up to $150 million of its common stock.
“This share repurchase program demonstrates our Board and management’s confidence in Cornerstone and its future,” said Adam Miller, founder and CEO, Cornerstone.
The authorized repurchases represent approximately 5% of current market capitalization. Cornerstone does not have a specific schedule or commitment for the repurchase of the shares. The timing and the amount of any repurchases will be determined by the Company based on its evaluation of market conditions and other factors.
Cornerstone powers the future ready workforce, with HR software and solutions designed to unite people, teams, technology and business, and inspire a work environment of growth, agility and success for all. With an AI-powered and skills-forward system designed for the contemporary workforce, we help organizations modernize the learning and development experience, deliver the most relevant content from anywhere, accelerate talent and career mobility, and establish skills as the universal language of growth and success across the business. Cornerstone serves over 6,000 customers and 75M users and is available in 180 countries and 50 languages. https://www.cornerstoneondemand.com/