Vuzix approves $25M in share buyback program

Vuzix (VUZI +1.5%) board approved a $25M share buyback program which expires on Mar.2, 2023.
Based on the closing price of Vuzix's common stock on Mar.1, 2022, the share buyback program would enable the company to repurchase ~4M shares, or about 6% of its outstanding shares should the program be completed as currently contemplated.
The current buyback program forms 6.9% of its total current market cap; YTD, the stock lost 36.9%.