Pegasystems Inc. (NASDAQ:PEGA) Files An 8-K Regulation FD DisclosureItem 7.01.Regulation FD Disclosure
On June21, 2018, the Company issued a press release announcing an expansion of its current share repurchase program. A copy of such press release is attached as Exhibit99.1 to this Current Report on Form8-K and is incorporated herein by reference in its entirety. Under this expansion, the expiration date of the current repurchase program has been extended from June30, 2018 to June30, 2019, and the amount of stock the Company is authorized to repurchase has been increased from approximately $23.5million, the amount remaining in the current program, to $50million. This expansion is effective from June15, 2018 to June30, 2019.
At the Company’s discretion, the purchases will be made from time to time on the open market or in privately negotiated transactions. Shares may be repurchased in such amounts as market conditions warrant, subject to regulatory and other considerations.
The Company has established a pre-arranged stock repurchase plan intended to comply with the requirements of Rule10b5-1 under the Securities Exchange Act of 1934, as amended, and of Rule10b-18 of the Exchange Act and may establish other such plans (collectively, the “10b5-1 Plan”). Shares that are repurchased under the current repurchase program will be repurchased under the Company’s 10b5-1 Plan.
Any actual repurchases under the current repurchase program will be disclosed in the Company’s annual reports on Form10-K and quarterly reports on Form10-Q filed with the Securities and Exchange Commission for the annual and applicable quarterly periods ending between June30, 2018 and December31, 2019.
Item 7.01.Financial Statements and Exhibits
| EX-99.1 | Press Release issued by Pegasystems Inc. on June21, 2018. |
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PEGASYSTEMS INC ExhibitEX-99.1 2 d771092dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Pegasystems Extends Current Share Repurchase Program CAMBRIDGE,…To view the full exhibit click here
About Pegasystems Inc. (NASDAQ:PEGA)
Pegasystems Inc. develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications. Its applications and platform intersect with and encompass several traditional software markets, including Customer Relationship Management (CRM); Business Process Management (BPM); Business Rules Management Systems (BRMS); Dynamic Case Management (DCM); Decision Management, which includes Predictive and Adaptive analytics, and the Vertical Specific Software (VSS) market of industry solutions and packaged applications. It provides implementation, consulting, training, technical support and hosting services to facilitate the use of its software. The Company offers its services to financial, healthcare, insurance, manufacturing, life sciences and other markets.