Galaxy Announces $200 Million Share Repurchase Program

Executive Summary

• Galaxy Digital’s Board approved a $200 million share repurchase program for its Class A common stock, authorized for up to 12 months.
• The program may be executed via open‑market purchases, privately negotiated transactions, or Rule 10b5‑1 trading plans, subject to Nasdaq and TSX regulations.
• Management highlighted the buyback as a sign of confidence in Galaxy’s balance sheet, growth prospects, and long‑term value creation for shareholders.

Key Details

• Authorization Amount: Up to $200 million of Galaxy Digital Class A common stock.
• Program Term: 12 months from the date of approval; may be suspended or discontinued at any time.
• Execution Methods: Open market purchases, privately negotiated transactions, and/or Rule 10b5‑1 trading plans.
• Regulatory Limits: Nasdaq purchases cannot exceed 5% of the outstanding Class A shares at program commencement; TSX participation requires a separate application and approval for a normal‑course issuer bid.
• Flexibility Factors: Timing and total repurchased amount will depend on business, economic, market conditions, legal/regulatory requirements, and prevailing stock prices.
• CEO Statement: Mike Novogratz emphasized the company’s strong balance sheet and flexibility to return capital when the stock is undervalued, underscoring confidence in long‑term prospects.

Notable Quotes

“We are entering 2026 from a position of strength, with a strong balance sheet and continued investment in Galaxy's growth… The share repurchase program also underscores our confidence in Galaxy's long‑term prospects.” – Mike Novogratz, Founder & CEO

Materiality: Material – Positive (the sizable buyback indicates confidence and potential shareholder value creation).