Steelcase Inc.
10/10/2024 | Press release | Distributed by Public on 10/10/2024 14:16
Material Event Form 8 K
Item 8.01 Other Events.
On October 10, 2024, Steelcase Inc. (the "Company") entered into a stock repurchase agreement with an independent third party broker under which the broker is authorized to repurchase up to 1.5 million shares of the Company's common stock on behalf of the Company during the period from October 11, 2024 through December 20, 2024, subject to certain price, market and volume constraints specified in the agreement. The agreement was established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The shares will be purchased pursuant to the Company's share repurchase programs in a manner consistent with applicable laws and regulations, including the provisions of the safe harbor contained in Rule 10b-18 under the Exchange Act.
The repurchases that may be made under the agreement are authorized under a $100.0 million share repurchase program approved by the Company's Board of Directors in October 2023, of which $79.9 million currently remains available.