Masonite Enters $100M ASR Agreement

• Masonite International Corp (NYSE:DOOR) has entered an accelerated share repurchase agreement with Morgan Stanley & Co. LLC. to repurchase an aggregate of $100 million of shares.
• The ASR Agreement is part of Masonite's existing share repurchase program, which after giving effect to the ASR, has ~$256 million remaining for future buyback.
• Masonite will receive an initial delivery of ~848 thousand common shares in exchange for a prepayment of $100 million. These shares will be retired in the first quarter of 2022.
• Price Action: DOOR shares are trading higher by 1.46% at $95.71 on the last check Tuesday.