CAPSTAR FINANCIAL HOLDINGS, INC. (NASDAQ:CSTR) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
On March 10, 2020, CapStar Financial Holdings, Inc. (the Company) issued a press release announcing the Plan (defined below). A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this Report) is incorporated by reference into this Item 7.01.
The information disclosed under Item 8.01 of this Report is also incorporated by reference into this Item 7.01.
Item 8.01. Other Events.
On March 10, 2020, the Board of Directors of the Company (the Board) authorized the Company to repurchase up to $9 million of shares of the Companys common stock to a written plan that was entered into with Piper Sandler & Co. and that is intended to comply with applicable federal securities laws (the Plan).Shares of common stock may be purchased from time to time under the Plan in the open market, through privately negotiated transactions or otherwise. The Plan will terminate on the earlier of the date on which the maximum authorized dollar amount of shares of common stock has been repurchased or December 31, 2020. The Plan does not, however, require that the Company repurchase any shares of its common stock.
This Report may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to the terms, timing, logistics and conditions of repurchases of common stock, the Companys compliance with applicable law in connection with repurchases of common stock and the Companys future repurchase activity.
Forward-looking statements are subject to many risks and uncertainties, including, but not limited to, the risks detailed from time to time in the Companys periodic and current reports filed with the Securities and Exchange Commission, including those factors included in the Companys most recent Annual Report on Form 10-K under the headings Item 1A. Risk Factors and Cautionary Note Regarding Forward-Looking Statements and in the Companys Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions that the forward-looking statements included in this Report are not a guarantee of future events and that actual events may differ materially from those made in or suggested by the forward-looking statements. Accordingly, undue reliance should not be placed on any such forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this Report, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.
Item 9.01. Financial Statements and Exhibits.