8-KRegulation FDOther EventsExhibits & Filings

CORPAY, INC. 8-K Report, Regulation FD Disclosure (Dec 3, 2012)

Filed December 3, 2012For Securities:CPAY

Summary

FleetCor Technologies, Inc. (now Corpay, Inc.) filed an 8-K on December 3, 2012, primarily to announce the completion of a significant share repurchase program. The company bought back approximately $200 million worth of its common stock, specifically 3,852,822 shares, at a price of $51.91 per share. This repurchase was conducted under a Stock Repurchase Agreement dated November 26, 2012, with entities affiliated with Summit Partners and Bain Capital, two prominent private equity firms. This action indicates a strategic decision by FleetCor to return capital to shareholders and potentially enhance shareholder value by reducing the number of outstanding shares.

Key Highlights

  • 1FleetCor Technologies, Inc. completed a substantial share repurchase on December 3, 2012.
  • 2The company repurchased 3,852,822 shares of its common stock.
  • 3The total aggregate purchase price for the repurchased shares was approximately $200 million.
  • 4The repurchase price per share was $51.91.
  • 5The transaction was executed under a Stock Repurchase Agreement dated November 26, 2012.
  • 6The sellers in the repurchase agreement were entities affiliated with Summit Partners and Bain Capital.
  • 7The filing was made under Regulation FD Disclosure (Item 7.01) and Other Events (Item 8.01).

Frequently Asked Questions

The primary purpose of this 8-K filing was to publicly disclose the completion of FleetCor Technologies, Inc.'s previously announced share repurchase program.

FleetCor Technologies, Inc. repurchased shares from entities affiliated with Summit Partners and Bain Capital.

A significant share repurchase can be interpreted positively by investors. It suggests that the company believes its stock is undervalued and is a way to return capital to shareholders. A reduced number of outstanding shares can also potentially increase earnings per share (EPS).

No, this 8-K filing is focused on a specific corporate action (share repurchase) and does not provide detailed financial statements or performance metrics. It references a press release (Exhibit 99.1) which might contain more context, but the 8-K itself is limited to the repurchase details.