Panera Bread Company Announces $600m Share Repurchase Program

Panera Bread Company

today announced that its Board of Directors has approved a new three year share repurchase program of up to $600 million. This new program will replace the existing program which was scheduled to expire on November 16, 2012 and has been terminated by the Board of Directors in connection with approving the new program. The repurchases may commence as soon as August 28, 2012, and will be effected from time to time on the open market or in privately negotiated transactions and may make such repurchases under a Rule 10b5-1 Plan. The share repurchase program and the Board's authorization of the program may be modified, suspended, or discontinued at any time.