8-KMaterial AgreementsFinancial Events

FIFTH THIRD BANCORP 8-K Report, Material Agreement (Sep 2, 2015)

Filed September 2, 2015For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an 8-K on September 2, 2015, to report the completion of an accelerated share repurchase (ASR) transaction with Morgan Stanley & Co. LLC. This transaction, initiated on July 29, 2015, involved the repurchase of approximately $150 million of Fifth Third's outstanding common stock. The ASR program is part of a larger 100 million share repurchase initiative previously announced in March 2014. In total, 7,386,106 shares were repurchased under this agreement at an average price of $20.3084 per share. The completion of this ASR leaves Fifth Third Bancorp with approximately 47.8 million shares of remaining repurchase authority under its existing program, indicating continued commitment to returning capital to shareholders.

Key Highlights

  • 1Fifth Third Bancorp completed an accelerated share repurchase (ASR) transaction valued at approximately $150 million.
  • 2The ASR was executed with Morgan Stanley & Co. LLC.
  • 3A total of 7,386,106 shares of common stock were repurchased.
  • 4The average repurchase price per share was $20.3084.
  • 5This repurchase is part of Fifth Third's broader 100 million share repurchase program announced on March 18, 2014.
  • 6Following this transaction, the company retains approximately 47.8 million shares of remaining repurchase authority.
  • 7The filing is an 8-K dated September 2, 2015, with the earliest event reported being September 1, 2015.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report the completion of an accelerated share repurchase transaction by Fifth Third Bancorp, as well as to update the market on the remaining share repurchase authority under its existing program.

Fifth Third Bancorp repurchased a total of 7,386,106 shares of its common stock at an average price of $20.3084 per share.

Yes, this accelerated share repurchase transaction is part of Fifth Third Bancorp's previously announced 100 million share repurchase program, initiated on March 18, 2014.

After the completion of this accelerated share repurchase, Fifth Third Bancorp has approximately 47.8 million shares of remaining repurchase authority under its existing program.