Business Context and Reporting Period
Company: Superior Group of Companies, Inc. (SGC)
Filing Type: Form 8-K (Current Report)
Date of Report: September 19, 2024
Reporting Period: Event date September 19, 2024
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The document 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. Key details include:
- Repurchase Limit: Up to $4,308,737.04.
- Authorization: Based on a program approved by the Board of Directors on August 9, 2024.
- Execution Window: Commencing September 20, 2024, ending on the earlier of the date the limit is reached or November 8, 2024.
- Administration: Repurchases will be conducted through an independent broker subject to price, market, volume, and timing constraints.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of risks and contingencies beyond the standard constraints of the trading plan. The information is provided pursuant to Regulation FD and is not deemed "filed" for liability purposes under Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the total number of shares repurchased under this specific 10b5-1 plan once the period concludes.
- Confirm the average price per share paid during the repurchase window (September 20 to November 8, 2024).
- Review the August 9, 2024 Board authorization details to understand the total remaining capacity of the broader share repurchase program.
- Monitor subsequent 8-K filings for any early termination of the plan or changes to the repurchase limit.