Summary
Motorola Solutions, Inc. (MSI) filed an 8-K on August 4, 2016, reporting its financial results for the second quarter ended July 2, 2016. While the 8-K itself does not detail the specific financial figures, it refers to an attached press release (Exhibit 99.1) for this information. A significant development highlighted in the filing is the Board of Directors' authorization to increase the share repurchase program by an additional $2.0 billion, bringing the total authorized for repurchase to $14.0 billion. This underscores the company's commitment to returning capital to shareholders and confidence in its financial position.
Key Highlights
- 1Motorola Solutions announced its financial results for the second quarter ended July 2, 2016, via a press release furnished with this 8-K.
- 2The company's Board of Directors authorized an additional $2.0 billion for its share repurchase program.
- 3This increase brings the total authorized share repurchase program to $14.0 billion.
- 4The share repurchase program has no expiration date.
- 5As of July 2, 2016, the company had already repurchased approximately $11.6 billion of its common stock under the existing program.
- 6Share repurchases may be conducted in the open market or through privately negotiated transactions, subject to market conditions.