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 is a premier people development company. We believe people can achieve anything when they have the right development and growth opportunities. We offer organizations the technology, content, expertise and specialized focus to help them realize the potential of their people. Featuring comprehensive recruiting, personalized learning, modern training content, development-driven performance management and holistic employee data management and insights, Cornerstone’s people development solutions are used by more than 6,000 customers of all sizes, spanning more than 75 million users across over 180 countries and nearly 50 languages. Learn more at www.cornerstoneondemand.com.