WAYSIDE TECHNOLOGY GROUP,INC. (NASDAQ:WSTG) Files An 8-K Other EventsItem 8.01. Other Events.
Wayside Technology Group, Inc. (the “Company”) has engaged in stock repurchases of its common stock (the “Common Stock”) from time to time. A total of 2,868,370 shares of Common Stock have been repurchased as of February 28, 2017, leaving a balance of 642,643 shares of Common Stock that the Company currently is authorized to buy back in the future. The pre-existing repurchase program is expected to remain in effect for 2017. As of February 28, 2017, the Company held 696,915 shares of our Common Stock in treasury at an average cost of $16.58 per share. Repurchased shares in treasury are held for general corporate purposes, including issuances under various stock plans.
On February 2, 2017, the Board of Directors of the Company approved, and on March 1, 2017, the Company entered into, a written purchase plan intended to comply with the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Plan”). Purchases involving shares of the Company’s Common Stock under the Plan may take place commencing March 1, 2017, and the Plan is intended to be in effect until September 30, 2017. to the Plan, the Company’s broker shall effect purchases of up to an aggregate of 600,000 shares of Common Stock.