Target $18.72, page-1480

I wonder how the share buyback works today considering half the trading volume has occurred above the legal buyback limit and half below.

Is there a % limit in which WHC can buyback within one days trading volume ?

And also what happens when half the days trading is above the buyback limit and half below. Can WHC algo buyback at the % volume limit on the full days trading volume or only on the trading volume that has occurred below the buyback limit.

Catch my drift ?

Lets say a company hypothetically can only buy back 10% of the days trading volume.

20 million shares were traded.
Buy back limit (5 day 5wap) is $9.75
10 million shares were traded above $9.75
10 million shares were traded below $9.75

Can the company legally buyback 2 million shares on the day (all under $9.75 of course)
or can the company only buyback 1 million shares on the day (limited to only 10% of the 10 million volume that was traded under the $9.75 buyback price)

I don't know the answer to this