Hyatt Hotels Corp. repurchased 300,000 shares of its class B common stock from Anthony Pritzker Family Foundation at $81.0346 apiece, or roughly $24.3 million in the aggregate.
The repurchased shares represented about 1% of Hyatt's total common stock outstanding prior to the transaction.
Upon closing, the repurchased shares were automatically converted into an equivalent number of class A common stock. All shares of class B common stock converted in the buyback and the corresponding class A common shares will be retired.
Hyatt has 68,069,643 shares of class B common stock outstanding and 44,012,776 shares of class A common stock outstanding after the closing of the buyback.
Following this transaction, Hyatt can still buy back roughly $276.8 million of shares under its repurchase program.
