Summary
Comfort Systems USA, Inc. (FIX) announced in an 8-K filing dated August 10, 2018, an amendment to its existing stock repurchase program. The company's Board of Directors has approved an increase in the shares authorized for buyback, allowing for the acquisition of up to 670,916 additional shares. This amendment effectively "tops off" the program, permitting the repurchase of up to 1,000,000 additional shares beyond those already purchased.
Key Highlights
- 1Comfort Systems USA, Inc. (FIX) has amended its stock repurchase program.
- 2The Board of Directors approved an increase in authorized shares for buyback.
- 3The amendment allows for the repurchase of up to 670,916 additional shares.
- 4The total additional shares authorized for repurchase is up to 1,000,000.
- 5As of August 9, 2018, the company had repurchased 7,783,409 shares for $112,102,830.
- 6Repurchases are expected to be financed with available cash.
- 7The company may make repurchases in the open market or through privately negotiated transactions.
Frequently Asked Questions
The main purpose of this 8-K filing is to announce that Comfort Systems USA, Inc. has amended its stock repurchase program to increase the number of shares authorized for buyback.
The company's Board of Directors has authorized the acquisition of up to 670,916 additional shares, which effectively allows for the repurchase of up to 1,000,000 more shares in total beyond what has already been purchased.
The company expects that the share repurchases will be financed with available cash.
Yes, as of August 9, 2018, the company had already repurchased 7,783,409 shares of its common stock.