News

IXYS Announces New Stock Repurchase Program

March 01, 2007 by Jeff Shepard

IXYS Corp. announced that its Board of Directors has approved the repurchase of up to 2,000,000 shares of its common stock, or approximately 6% of the company’s 33 million shares of common stock currently outstanding. The previously announced repurchase program, also for up to 2 million shares, was terminated with about 1,960,000 shares purchased. The repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market through block trades or otherwise. The timing and amount of such repurchases will depend on market conditions.

IXYS also announced that its executive officers Nathan Zommer and Peter Ingram adopted pre-arranged stock trading plans to sell a portion of their company stock over time. The stock trading plans were adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and IXYS’s policies regarding stock transactions.

Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material, non-public information. Using these plans, insiders can spread stock trades out over an extended period of time to reduce any market impact and can avoid concerns about whether they had material, non-public information when they sold their stock.

The transactions under these plans will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.