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 leading global 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 their people potential. Featuring comprehensive recruiting, personalized learning, modern content delivered in the flow of work, development-driven performance management and holistic workforce data management and insights, Cornerstone’s people development solutions are used by more than 3,600 global clients of all sizes, spanning more than 40 million users across 180+ countries and 40+ languages.
Learn more at www.cornerstoneondemand.com.au