Old Republic International Corporation (ORI) today reported that its ESSOP had completed a previously announced purchase of ORI common shares in open market transactions. A total of 2.38 million shares were acquired at an average cost of $20.97 per share between May 8 and December 12, 2018. Together with shares already owned, the ESSOP’s holdings now amount to approximately 5.2% of ORI common stock currently outstanding.
The ownership of Old Republic’s common stock held directly or beneficially by directors, executive officers, and all employees as a group through the ESSOP, pension, and other benefit plans and related interests now amounts to approximately 7.8% of all ORI common stock currently outstanding. As such the long-term commitment and economic interests of these Old Republic intellectual capital providers continue to be well aligned with the economic interests of long-term investors in the Company’s shares.