Salt Lake City-based Franklin Covey Co . (NYSE:FC), a global company specializing in performance improvement with a market capitalization of $458 million and impressive gross profit margins of 77%, announced on Friday the approval of an amendment to its Omnibus Incentive Plan, which increases the number of shares available for issuance by 575,000.
According to InvestingPro analysis, the company currently trades below its Fair Value, with management actively buying back shares. This amendment, which was approved by shareholders on the same day, brings the total authorized shares to 1,575,000.
The amendment to the 2022 Omnibus Incentive Plan, initially adopted by the company's Board of Directors on November 15, 2024, is designed to provide various forms of stock-based compensation to eligible employees, officers, consultants, advisors, independent contractors, or non-employee directors.
The plan includes stock options, stock appreciation rights, restricted stock and units, and other stock-based awards. InvestingPro subscribers can access detailed governance metrics and 8 additional expert insights about Franklin Covey's financial health, which is rated as GOOD by their comprehensive scoring system.
During the Annual Meeting of Shareholders, also held on Friday, the company saw the election of its director nominees, with each set to serve until the next annual meeting or until their successors are elected and qualified. The advisory vote for the approval of executive compensation, as detailed in the company's Compensation Discussion and Analysis, was passed favorably.
Additionally, shareholders ratified the appointment of Deloitte & Touche, LLP as the company’s independent registered public accounting firm for the fiscal year ending on August 31, 2025.
In other recent news, Franklin Covey Co. delivered strong financial results for the first quarter of fiscal 2025. The company reported an 8% increase in fourth-quarter revenue, reaching $84.1 million, and a full-year revenue of $287.2 million. Adjusted EBITDA for the quarter also rose by 39% to $22.9 million, bringing the fiscal year total to $55.3 million. Despite a $2.5 million decline in international revenue, the company's education business reported a 5% revenue growth.
Looking ahead, Franklin Covey has set ambitious revenue targets and plans to increase its client base through initiatives like "Project Expand" and "Project Land." The company's recent product launches and shift towards a more collaborative learning model integrating AI-enhanced coaching are expected to drive growth and customer engagement. These are the recent developments regarding Franklin Covey Co.
The company has also scheduled its first quarter fiscal 2025 earnings conference call for the near future. Interested parties can access the live webcast through the company's provided link or join the call via telephone.
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