Chegg enters $150M accelerated share repurchase; initial ~13.5M shares to be returned by Nov 15

CHEGG, INC

Entered $150M ASR with Morgan Stanley; initial delivery of ~13.5M shares by Nov 15, 2023.
Final settlement expected by Q2 2024 based on volume-weighted average price less discount.
As of Oct 31, 2023, $153.7M remained under $2.2B repurchase program; after ASR, $3.7M remains.
CEO Dan Rosensweig cites strong free cash flow and commitment to enhancing shareholder value.

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