Business Context and Reporting Period
Company: NETWORK-1 TECHNOLOGIES, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: June 27, 2024
Reporting Period: This filing reports a specific corporate event (adoption of a trading plan) rather than a financial reporting period. The event was signed on June 28, 2024.
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 the authorization of a share repurchase plan.
Material Changes
The material change reported is the Board of Directors' authorization of a written trading plan (10b5-1 Plan) under Rule 10b5-1 of the Securities Exchange Act of 1934. This plan allows the Company to repurchase its own shares during periods when it might otherwise be restricted by trading black-outs or insider trading laws.
Guidance, Outlook, and Management Commentary
Share Repurchase Plan Details:
- Maximum Shares: Up to 1,000,000 shares of common stock.
- Execution Periods:
- Beginning July 8, 2024, until two trading days after the press release for the quarter ended June 30, 2024.
- Beginning October 1, 2024, until two trading days after the press release for the quarter ended September 30, 2024.
- Constraints: Purchases are subject to price, market, volume, and timing constraints in accordance with Rule 10b5-1 and Rule 10b-18.
Risks and Contingencies: The filing does not disclose new risks or contingencies beyond the standard constraints of the trading plan.
Investor Verification Checklist
- Verify the actual execution of share repurchases during the specified windows (July 2024 and October 2024) via future 8-K filings or quarterly reports.
- Monitor the Company's press releases for the Q2 2024 and Q3 2024 financial results to determine the exact end dates of the trading windows.
- Confirm the total number of shares repurchased and the average price paid per share once the plan is active.