CaratSignet signs the $125m repurchase with JPMorgan Chase
The accelerated agreement is dated 10 September and Signet took an initial 1,023,000 shares the next day. About $575m of authorisation remains under the 2017 programme.
The agreement is signed. Signet entered an accelerated share repurchase with JPMorgan Chase Bank on 10 September and received about 1,023,000 shares on 11 September.
If you hold Signet stock: about $575m of authorisation remains under the 2017 programme.
If you track the share count: 1,023,000 shares are already delivered and settlement runs to 2 December.
What this is not: a new programme. Signet named the $125m at its second-quarter results.
| Step | Date | Figure |
|---|---|---|
| Programme named at second-quarter results | 9 Sep 2026 | $125m intended |
| Agreement signed with JPMorgan Chase | 10 Sep 2026 | $125m notional |
| Initial share delivery received | 11 Sep 2026 | about 1,023,000 shares |
| Form 8-K filed | 14 Sep 2026 | not applicable |
| Final settlement expected | 25 Sep to 2 Dec 2026 | not applicable |
| Authorisation remaining, 2017 programme | as filed | about $575m |
IJPMorgan is the counterparty
The bank is named. Signet's filing names JPMorgan Chase Bank, National Association as counterparty to the agreement.
Signed on the tenth. The master and supplemental confirmations both carry the date 10 September 2026.
IIThe shares arrive in two parts
About a million first. Signet received approximately 1,023,000 common shares on 11 September as the initial delivery.
The rest settles later. Final settlement is expected between 25 September and 2 December 2026.
IIIThe authorisation is not exhausted
Five hundred and seventy-five. About $575m of repurchase authorisation remains under Signet's 2017 share repurchase programme.
No price is fixed. The filing publishes no average price, and the initial delivery is not the final share count.
01What would change this call+
A final settlement delivering far fewer additional shares than the initial tranche implies. That would mean Signet paid a higher average price than the opening delivery suggested, and the $125m bought less of the float.
02How an accelerated repurchase works+
A company pays a bank a fixed sum up front and receives most of the shares immediately. The bank borrows those shares, then buys them back in the market across the settlement period. The final count is trued up at the end against the volume-weighted average price over that window. The company therefore knows its spend on day one and its share count only at the close.
03Method · the desk’s arithmetic+
The filing was read directly at the SEC rather than through a wire summary: Form 8-K, accession 0000832988-26-000231, filed 14 September 2026, with the agreement dated 10 September 2026. Age is stated from the events in the filing body and not from its filing date: the agreement is five days old and the initial delivery four. No implied price per share was computed from $125m over 1,023,000 shares, because an accelerated repurchase's initial delivery is a partial advance against the notional and the arithmetic would print a number that means nothing. The filing states approximately $575m of authorisation remaining under the 2017 share repurchase programme and does not say whether that figure is struck before or after this $125m, so no addition is performed here either. Archive test, both periods named: Carat Capital's 9 September piece covers Signet's second quarter of fiscal 2027 and reports the company's stated intention to run a $125m accelerated repurchase this month; this item covers the executed agreement of 10 September, its counterparty, its initial delivery and its settlement window. Same entity and the same headline dollar figure, but a different document covering a later period, so ADVANCED, not a repeat. The dollar figure is therefore not treated as news here and does not carry the headline.
04Sources1 document
Signet comps rise 2.2% as total sales fall 0.5%
The quarter that paid for this buyback, and where the $125m was first named.
The trade, filed before the New York open.
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