SEC Filing Summary: Form 8-K
Business Context and Reporting Period
Company: Westfield Financial, Inc. (Note: Request metadata referenced Western New England Bancorp, Inc., but the filing text identifies Westfield Financial, Inc.)
Filing Date: September 15, 2009
Reporting Period: Current report regarding events occurring on September 15, 2009.
Item: 8.01 Other Events
Key Financial Metrics
This filing is a current report regarding a corporate action and does not contain financial statements. Consequently, the filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The Company announced the execution of a specific stock repurchase plan under its existing program:
- Existing Program: Approved on January 24, 2008, authorizing the repurchase of up to 3,194,000 shares (10% of outstanding common stock).
- New Action: On September 15, 2009, the Company entered into a Rule 10b5-1 repurchase plan with Keefe, Bruyette & Woods, Inc.
- Plan Details:
- Maximum Shares: 300,000 shares.
- Start Date: October 16, 2009.
- Expiration Date: November 4, 2009.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. No specific risks or contingencies were disclosed in this document other than the standard execution of the repurchase plan under SEC rules.
Investor Verification Checklist
- Verify the total number of shares repurchased under the 10b5-1 Plan between October 16, 2009, and November 4, 2009.
- Confirm the average price paid per share during the repurchase period.
- Check subsequent filings to determine the remaining authorization under the original 3,194,000 share program.
- Review the Company's most recent 10-Q or 10-K for current liquidity and capital position to assess the impact of the repurchases.