UNIFIRST CORPORATION (NYSE:UNF) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
Entry into a Material Definitive Agreement.
On March 27, 2018, UniFirst Corporation (the “Company”) entered into a Stock Repurchase Agreement (the “Repurchase Agreement”) with The Queue Limited Partnership, The Marie Croatti RC Trust – 2006, The Marie Croatti CC Trust – 2006, The Marie Croatti CL Trust – 2006, The Marie Croatti FC Trust – 2006 and Marie Croatti (collectively, the “Sellers”) to which the Company repurchased (the “Repurchase”) an aggregate of 1,104,510 shares of Class B Common Stock, par value $0.10 per share, of the Company and 73,000 shares of Common Stock, par value $0.10 per share, of the Company for a price per share equal to $124.00. In connection with the Repurchase, the Sellers and certain of their affiliates agreed for a period of 90 days not to sell shares of the Company’s stock, subject to certain exceptions. Cynthia Croatti, Executive Vice President, Treasurer and Director of the Company, is President, Director and a shareholder of the general partner of The Queue Limited Partnership and is the daughter of Marie Croatti, the trustee and beneficiary of The Marie Croatti RC Trust – 2006, The Marie Croatti CC Trust – 2006, The Marie Croatti CL Trust – 2006 and The Marie Croatti FC Trust – 2006.
The description of the Repurchase Agreement is qualified in its entirety by reference to the Repurchase Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference. Additional information regarding the Repurchase is set forth in the press release (the “Press Release”) attached as Exhibit 99 to this Current Report on Form 8-K.
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Item 2.02. |
Results of Operations and Financial Condition. |
On March28, 2018, the Company issued a Press Release announcing financial results for the second quarter of fiscal 2018, which ended on February24, 2018. A copy of the Press Release is attached as Exhibit 99 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 2.02, including the exhibit attached hereto, shall not be deemed “filed” for any purpose, including for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
UNIFIRST CORP ExhibitEX-10.1 2 a101stockrepurchaseagreeme.htm EXHIBIT 10.1 Exhibit Exhibit 10.1STOCK REPURCHASE AGREEMENTThis STOCK REPURCHASE AGREEMENT (the “Agreement”) is made as of March 27,…To view the full exhibit click here
About UNIFIRST CORPORATION (NYSE:UNF)
UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments. It operates in six segments: the US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing (MFG), Specialty Garments Rental and Cleaning (Specialty Garments), First Aid and Corporate. The Company also rents and sells industrial wiping products, floor mats, facility service products and other non-garment items, and provides restroom and cleaning supplies and first aid cabinet services, and other safety supplies. It also decontaminates and cleans work clothes, which has been exposed to radioactive materials and service special cleanroom protective wear and facilities.
