Item 8.01 Other Events.
On December 30, 2020, The J. M. Smucker Company (the "Company") entered into a
share repurchase plan (the "Plan") established in accordance with Rule 10b5-1 of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in
connection with the 8,586,598 remaining common shares authorized for repurchase
by the Company's Board of Directors as of the Company's fiscal quarter ended
October 31, 2020. A Rule 10b5-1 plan allows a company to repurchase its shares
at times when it otherwise might be unable to do so under the Exchange Act's
insider trading rules or during self-imposed trading blackout periods.
The Plan will facilitate purchases of the Company's common shares under its
authorized share repurchase program. Under the repurchase program, the Company
repurchased 2,500,000 common shares between December 2, 2020 and December 24,
2020 and, therefore, the Company has remaining authorization to repurchase
6,086,598 common shares as of December 30, 2020. The Company's designated broker
will have authority under the Plan to repurchase up to 2,000,000 of the
remaining 6,086,598 common shares authorized for repurchase commencing on
January 4, 2021 and expiring on February 26, 2021, unless terminated earlier in
accordance with the terms of the Plan. Repurchases under the Plan will be
subject to specified parameters and certain price and volume restraints as
established in the Plan. Therefore, there is no guarantee as to the exact number
of common shares that will be repurchased. Any repurchased shares will be held
in treasury.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Exhibit Exhibit Description
104 The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.
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