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Get filing alertsSmart Sand adopts $2.5M share buyback plan under Rule 10b5-1 through August 2026
Filed May 15, 2026 · Period ending May 15, 2026 · ~1 min read
Key Changes
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Company established Rule 10b5-1 trading plan authorizing up to $2.5 million in share repurchases between June 1 and August 10, 2026, allowing buybacks during blackout periods when insiders cannot trade.
Item 8.01 verify on EDGAR → -
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Daily purchase volumes will comply with Rule 10b-18 safe harbor limits. Plan terminates when either $2.5 million is spent or August 10 deadline is reached, whichever comes first.
Item 8.01 verify on EDGAR → -
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Broker has discretion to execute purchases within plan parameters, but neither company nor broker is obligated to purchase any specific number of shares or make purchases at any particular time.
Item 8.01 verify on EDGAR →
Summary
Smart Sand filed an 8-K to disclose adoption of a Rule 10b5-1 trading plan that will allow the company to repurchase up to $2.5 million of its common stock over a 10-week window starting June 1, 2026. This plan implements previously announced share repurchase programs and provides a structured mechanism for the company to buy back shares even during periods when insiders would normally be restricted from trading. For retail shareholders, this represents a modest capital allocation decision that could provide some support for the stock price, though the $2.5 million amount is relatively small.
The plan's discretionary nature means the full amount may not be deployed if market conditions change. Investors should watch for the company's quarterly disclosure of actual repurchase activity to see how aggressively management executes on this authorization and whether the buyback program signals confidence in the company's valuation or simply routine capital management.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 15, 2026, Smart Sand, Inc. (the “Company”) entered into a written trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company implemented this written trading plan in connection with its previously announced share repurchase programs, as described in the Company’s 2025 Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on February 26, 2026, and Current Report on Form 8-K, filed with the SEC on February 26, 2026.
The company established a Rule 10b5-1 trading plan to execute share repurchases under its existing buyback program. This plan allows the company to repurchase shares during blackout periods when insiders would otherwise be restricted from trading. The plan is a procedural mechanism to implement previously announced repurchase programs.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
A broker selected by the Company will have the authority under the terms and limitations specified in the plan to repurchase shares on the Company’s behalf in accordance with the terms of the plan. Adopting this trading plan does not require the Company or its broker to purchase a specific number of shares, nor does it obligate the Company or its broker to make any repurchases at any specific time.
The company has delegated execution authority to a broker within the plan's parameters, but neither the company nor the broker is obligated to purchase any specific number of shares or make purchases at any particular time. This means the full $2.5 million may not be deployed if market conditions or other factors lead to fewer purchases.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 9, 2026 · How we verify