Summary
HCA Healthcare, Inc. (HCA) filed an 8-K on May 7, 2010, primarily to disclose its first-quarter 2010 financial results via a press release and to announce a significant cash distribution to shareholders. The company's Board of Directors declared a cash distribution of approximately $500 million, or $5.00 per share, payable on May 14, 2010, to shareholders of record as of May 6, 2010. This distribution is to be funded through existing senior secured credit facilities. In addition to the shareholder distribution, HCA will also make cash payments to holders of vested stock options, equivalent to the per-share distribution amount less withholding taxes. For unvested options, the exercise price will be reduced by the per-share distribution amount. The press release announcing these results and distributions is attached as Exhibit 99.1 to this filing.
Key Highlights
- 1HCA Healthcare announced its first-quarter 2010 financial results on May 7, 2010, via a press release.
- 2The company's Board of Directors declared a significant cash distribution totaling approximately $500 million.
- 3The cash distribution amounts to $5.00 per share of outstanding common stock.
- 4The distribution is scheduled to be paid on May 14, 2010, to shareholders of record on May 6, 2010.
- 5The cash distribution will be funded using HCA's existing senior secured credit facilities.
- 6HCA will also provide cash payments to holders of vested stock options, equating to the per-share distribution amount.
- 7Unvested stock options will have their exercise prices reduced by the per-share distribution amount.