Item 8.01. Other Events.
On
The Board also authorized the Company to enter into written trading plans under
Rule 10b5-1 of the Exchange Act. Adopting a trading plan that satisfies the
conditions of Rule 10b5-1 allows a company to repurchase its shares at times
when it might otherwise be prevented from doing so due to self-imposed trading
blackout periods or pursuant to insider trading laws. Under any Rule 10b5-1
trading plan, the Company's third-party broker, subject to
The Company cannot predict when or if it will repurchase any shares of common
stock and series 1 preferred stock as such stock repurchase program will depend
on a number of factors, including constraints specified in any Rule 10b5-1
trading plans, price, general business and market conditions, and alternative
investment opportunities. Information regarding share repurchases will be
available in the Company's periodic reports on Form 10-Q and 10-K filed with the
This report contains forward-looking information, as that term is defined under the Exchange Act, including information regarding purchases by the Company of its common stock pursuant to any Rule 10b5-1 trading plans. By their nature, forward-looking information and statements are subject to risks, uncertainties, and contingencies, including changes in price and volume and the volatility of the Company's shares; adverse developments affecting either or both of prices and trading of exchange-traded securities, including securities quoted on the NASDAQ Market; and unexpected or otherwise unplanned or alternative requirements with respect to the capital investments of the Company. The Company does not undertake to update any forward-looking statements or information, including those contained in this report.
On
The information in Item 8.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
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