UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events
On May 5, 2022, the Board of Directors of MetroCity Bankshares, Inc. (the “Company”) approved the continuation of its stock repurchase program that expired on December 31, 2021 (“2021 Stock Repurchase Plan”), and authorized the Company to repurchase up to 689,191 shares of the Company’s outstanding shares of common stock, which is the number of remaining shares authorized for repurchase from the 2021 Stock Repurchase Plan. The share repurchase program will begin on May 6, 2022 and end on April 30, 2023. The repurchases will be made in compliance with all Securities and Exchange Commission rules, including Rule 10b-18, and other legal requirements and may be made in part under Rule 10b5-1 plans, which permits stock repurchases when the Company might otherwise be precluded from doing so. Repurchases can be made from time-to-time in the open market or through privately negotiated transactions depending on market and/or other conditions. The repurchase program may be modified, suspended or discontinued at any time.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
METROCITY BANKSHARES, INC. | ||
Date: May 5, 2022 | By: | /s/ Lucas Stewart |
Lucas Stewart | ||
Chief Financial Officer | ||