MSC Industrial Direct Co., Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by MSC Industrial Direct Co., Inc. on October 18, 2006, covering events occurring on October 16 and October 17, 2006. The registrant is incorporated in New York and operates as an industrial supply distributor.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on corporate governance actions and shareholder distributions rather than periodic financial performance data.
Material Changes and Corporate Actions
- Stock Purchase Plan Amendment: On October 16, 2006, the Compensation Committee and Board of Directors approved an amendment to the Associate Stock Purchase Plan. The amendment modifies the "Purchase Price" to 90% of the Fair Market Value of Class A Common Stock as of the Exercise Date. This change is effective February 1, 2007.
- Dividend Declaration: On October 17, 2006, the company issued a press release announcing the declaration of a cash dividend on its common stock. The specific dividend amount and payment date are contained in the attached press release (Exhibit 99.1) and are not explicitly stated in the body of this 8-K.
Guidance, Outlook, and Risks
The filing does not contain management commentary on future guidance, outlook, risks, contingencies, or unusual items. The document is strictly limited to reporting the entry into a material definitive agreement regarding the stock plan and the declaration of a dividend.
Investor Verification Checklist
- Verify the specific cash dividend amount per share and the record/payment dates by reviewing the press release attached as Exhibit 99.1.
- Confirm the effective date of the Associate Stock Purchase Plan amendment (February 1, 2007) and its impact on employee equity compensation.
- Review the definition of "Fair Market Value" within the amended Plan to understand the pricing mechanism for future stock purchases.