Quest Software Announces New Stock Repurchase Program, to Buy Back $200M of Stock (QSFT)

Quest Software, Inc. QSFT today announced that its board of directors has authorized a stock repurchase program covering up to $200 million of its common stock. This program replaces the $150 million stock repurchase program that Quest Software's board of directors authorized in February 2011. Any stock repurchases may be made through open market and privately negotiated transactions, at times and in such amounts as management deems appropriate, including pursuant to one or more Rule 10b5-1 trading plans. Rule 10b5-1 permits Quest Software to establish, while not in possession of material nonpublic information, prearranged plans to buy stock at a specific price in the future, regardless of any subsequent possession of material nonpublic information. The timing and actual number of shares repurchased will depend on a variety of factors including market conditions, corporate and regulatory requirements, and capital availability. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.