Curtiss-Wright has about three weeks to buy $100m of its own shares, and the filing and the press release both land on $390m left while counting different purchases
One hundred million dollars, and about three weeks to spend it.
Curtiss-Wright told the Securities and Exchange Commission on Tuesday that it entered into a written trading plan under Rule 10b5-1 on 10 August, covering purchases of its own common stock totalling $100m. The filing says the plan will not be effected before 10 August and will cease on full use of that money, which the company expects to occur by the end of August 2026. On any purchase day the broker may buy up to the maximum daily volume Rule 10b-18 allows.
That last clause is what makes the timetable plausible. A company buying inside the Rule 10b-18 safe harbour is capped each day at a share of its own recent average trading volume, so committing to spend $100m by the end of the month is a commitment to buy at or near that ceiling on most of the days remaining.
The plan sits under existing authorisations. Available room across them is $490m, the filing says, and $390m is expected to remain once the plan is done.
Two documents, one residual, different arithmetic
The press release filed as Exhibit 99.1 the same day reaches $390m too, and it counts something else to get there.
It describes the $100m as an expansion of the 2026 programme, which is now expected to result in annual repurchases of $160m for the year. The other $60m is a separate programme begun in January and, the release says, expected to be completed this year. Then the sentence that matters: on completion of these programmes, remaining open authorisation will be $390m.
The 8-K subtracts one plan from $490m. The release subtracts two. Neither document says how much of the January programme has already been bought, and that is the only figure that would make both sentences describe the same balance. Nothing here says either is wrong. It does mean a reader cannot take $490m as a live number without knowing which purchases it already reflects.
Lynn M. Bamford, chair and chief executive, is quoted in the release tying the decision to "confidence in Curtiss-Wright's future growth" and a recent upward revision to full-year guidance.
The company makes engineered products for aerospace, defence and commercial nuclear markets, and the release puts its workforce at about 9,200. What it actually bought, and at what price, appears in the next quarterly report and not before.
