In which of these situations might a stock repurchase result in increased firm value?

1-when a firm executes a targeted repurchase in order to buy back shares from specific shareholders at above-market prices

2-when a firm does an open market, rather than an auction-based, repurchase

3-when a firm without any positive NPV projects executes a repurchase to distribute excess cash flow to the shareholders

4-Stock repurchases never increase or decrease the value of the firm