VERA BRADLEY, INC. (NASDAQ:VRA) Files An 8-K Other EventsItem 8.01 Other Events.
On September 27, 2018, Vera Bradley, Inc. (the "Company") agreed to repurchase 200,000 common shares from the Patricia R. Miller 2007 Family Trust (the "Trust") at a price of $15.04 per share, representing an approximate three and one half percent (3.5%) discount from the closing price of $15.58 on September 26, 2018. P. Michael Miller is the trustee of the Trust and is a director of the Company. P. Michael Miller and Patricia Miller, the Company's co-founder and a director, are husband and wife. The transaction was approved by the Company’s Audit Committee and was effected as part of the Company’s previously announced share repurchase program. Following the Company’s September 27, 2018 repurchase, the Trust remains the beneficial owner of 1,083,340 of the Company’s common shares, or approximately 3.1% of the outstanding common shares, and approximately $6.4 million remained available under the Company’s share repurchase program.
About VERA BRADLEY, INC. (NASDAQ:VRA)
Vera Bradley, Inc. is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters. The Direct business consists of sales of Vera Bradley products through factory outlet stores in the United States, verabradley.com, direct-to-consumer eBay sales and its annual outlet sale in Fort Wayne, Indiana. The Indirect business sells Vera Bradley products to approximately 2,600 specialty retail locations, which are located in the United States, as well as department stores, national accounts and third party e-commerce sites.