Business Context and Reporting Period
Company: FIRST MID BANCSHARES, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: June 24, 2025
Event: Termination of prior stock repurchase plan and authorization of a new program.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance actions regarding share repurchases.
Material Changes
- Termination of Prior Plan: The Board terminated the previously authorized stock repurchase plan effective June 30, 2025.
- New Repurchase Authorization: The Board authorized a new program to repurchase up to 1,200,000 shares of common stock.
- Share Impact: The authorized amount represents approximately 5% of the Company's issued and outstanding shares as of June 24, 2025.
- Program Duration: Effective July 1, 2025, through December 31, 2026, unless extended, modified, or terminated earlier.
Guidance, Outlook, and Management Commentary
Execution Methods: Repurchases may be conducted via open market transactions, privately negotiated transactions, Rule 10b5-1 trading plans, or other permitted methods.
Management Commentary: The filing contains no specific guidance on future earnings, outlook, risks, or contingencies beyond the mechanics of the new repurchase program.
Investor Verification Checklist
- Verify the exact number of shares outstanding as of June 24, 2025, to confirm the 5% calculation.
- Monitor future 8-K filings for the first execution of repurchases under the new program starting July 1, 2025.
- Review the Company's most recent 10-Q or 10-K for current liquidity levels to assess the capacity to fund the 1,200,000 share repurchase.
- Check for any subsequent amendments to the program end date (December 31, 2026).