Business Context and Reporting Period
Company: Superior Group of Companies, Inc. (SGC)
Filing Type: Form 8-K (Current Report)
Date of Report: December 20, 2024
Reporting Period: Event date December 20, 2024; Plan execution period through March 13, 2025.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The filing focuses exclusively on a corporate action regarding share repurchases.
Material Changes
The Company entered into a Rule 10b5-1 trading plan to repurchase shares of its outstanding common stock. This action is part of a previously authorized share repurchase program approved by the Board of Directors on August 9, 2024.
Guidance, Outlook, and Management Commentary
- Repurchase Plan Details: The Company authorized the repurchase of up to $2,580,000.00 in common stock.
- Execution Timeline: The plan commences December 20, 2024, and ends on the earlier of the date the limit is reached, March 13, 2025, or other specified events.
- Administration: Repurchases will be administered through an independent broker subject to price, market, volume, and timing constraints.
- Regulatory Status: The information is furnished under Item 7.01 (Regulation FD Disclosure) and is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the total remaining authorization under the August 9, 2024, share repurchase program to determine if the $2,580,000.00 limit is a new authorization or a subset of the existing program.
- Monitor future 8-K filings or quarterly reports for actual repurchase volumes and average prices paid under this 10b5-1 plan.
- Confirm the Company's current cash position in its most recent 10-Q or 10-K to assess the impact of the repurchase on liquidity.