---
schema_version: "secwatch.filing_event.v1"
accession: "0001097149-23-000009"
form_type: "8-K"
ticker: "ALGN"
cik: "0001097149"
company_name: "ALIGN TECHNOLOGY INC"
filed_at: "2023-02-06T23:59:59+00:00"
generated_at: "2026-06-19T23:46:34.642567+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Align Technology enters $250M accelerated stock repurchase; CEO & CFO to buy shares

## Summary
- Entered $250M ASR with Citibank under existing $1B repurchase program from May 2021.
- Initial delivery of ~580k shares; final number based on VWAP less discount; settlement by April 26, 2023.
- CEO Joe Hogan to purchase $1M, CFO John Morici $0.2M of ALGN common stock personally.
- As of Dec 31, 2022, ALGN had ~77.3M shares outstanding and $1B in cash and marketable securities.
- Funding from cash on hand; Citi will use designated brokers including CastleOak, Drexel Hamilton, Siebert Williams.

## SEC filing metadata
- accession: 0001097149-23-000009
- form_type: 8-K
- ticker: ALGN
- cik: 0001097149
- company_name: ALIGN TECHNOLOGY INC
- filed_at: 2023-02-06T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1097149/000109714923000009/0001097149-23-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1097149/000109714923000009/algn-20230203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001097149-23-000009
- JSON: https://secwatch.observer/filing/0001097149-23-000009.json
- Plain text: https://secwatch.observer/filing/0001097149-23-000009.txt

## Key facts
- Material Agreements
  ALIGN TECHNOLOGY INC entered into accelerated share repurchase agreement (the "ASR Contract") with Citibank, N.A. valued at $250 million (effective 2023-02-03).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Citibank, N.A.
  - Value: $250 million
  - Effective: 2023-02-03
  source text: On February 3, 2023, Align Technology, Inc., a Delaware corporation (the "Company") entered into an accelerated share repurchase agreement (the "ASR Contract") with Citibank, N.A. ("Citi") to repurchase $250 million of Align's common stock authorized under the Company's $1.0 billion stock repurchase program announced on May 13, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1097149/000109714923000009/0001097149-23-000009-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.