LexinFintech Holdings Ltd. (NASDAQ: LX) saw its stock price surge 5.38% in pre-market trading on Monday, following the company's announcement of a significant share repurchase program and management's commitment to purchase shares.

The Chinese technology-empowered personal financial service enabler revealed plans to repurchase up to $50 million of its shares over the next twelve months. This move demonstrates the company's confidence in its business fundamentals and growth prospects. The repurchases may be executed through various means, including open market transactions and block trades, subject to market conditions and applicable regulations.

Adding to the positive sentiment, LexinFintech's Chairman and CEO, Jay Wenjie Xiao, announced his intention to use personal funds to purchase up to $10 million worth of the company's American Depositary Shares (ADSs) within the next year. Mr. Xiao stated, "The Share Repurchase Program demonstrates our confidence in Lexin's business fundamentals and growth opportunities. We believe this is an attractive way of deploying our capital and returning value to shareholders." This commitment from top management is likely contributing to the stock's pre-market rally, as it aligns management's interests with those of shareholders and signals a strong belief in the company's future performance.