RE:RE:RE:Share buy backs do not serve Share HoldersI wouldn't consider buying shares back you've recently issued to staff a buyback program. What it is actually is clarifying what the share ownership program is costing you on a cash basis.
For example if 1,000,000 shares get redeemed this year, and it cost staff $2 and the company bought them back for $6, on a cash basis it means the ESOP cost you $4M in 2024 or $0.30 per boe (based on 36,000 boepd).
I've always found these ESOP or SBC (share based compensation) nebulous at best, some say don't count it others say it does matter. Like I said, if you buy them back in the same year they're sold by managers (don't forget those who don't have to report), then you can quantify what it cost you that year.