Leidos Initiates $500 Million Accelerated Share Repurchase; Allegro MicroSystems Names New CEO

Leidos Holdings, Inc. announced on February 24, 2025, that it has entered into an accelerated share repurchase agreement to repurchase $500 million of its common stock under its existing share repurchase authorization. Under the agreement, Leidos made an initial payment of $500 million to a counterparty on February 20, 2025, and received approximately 3 million shares of common stock on the same day. The final number of shares to be repurchased will be determined based on the company’s volume-weighted average stock price during the term of the agreement, less a predetermined discount, and may be subject to further adjustments. Final settlement is expected during the second quarter of 2025, although an earlier completion remains possible at the counterparty’s option.

In related news disclosed as an exhibit to the filing, Allegro MicroSystems, Inc. announced the appointment of Mike Doogue as President and Chief Executive Officer, as well as his addition to the company’s Board of Directors. Doogue, who has been with Allegro for 27 years and most recently served as Executive Vice President and the company’s inaugural Chief Technology Officer, succeeds Vineet Nargolwala. During his tenure, Doogue played a key role in advancing the firm’s disruptive technologies and overseeing global operations including manufacturing, procurement, and quality control. Holding 75 U.S. patents related to semiconductor technology, Doogue’s deep technical expertise and long-standing leadership experience were highlighted by the company’s board, which described the decision as the culmination of a thoughtful succession planning process aimed at further strengthening Allegro’s position in the automotive and industrial markets.

Both developments underscore ongoing strategic initiatives, with Leidos reinforcing its capital allocation strategy through decisive share repurchase activity, and Allegro setting the stage for its next chapter of growth under new leadership.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Leidos’s 8K filing here.

Leidos Company Profile

Leidos Holdings, Inc, together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. The company operates through Defense Solutions, Civil, and Health segments. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S.