Business Context and Reporting Period
Company: Liveramp Holdings, Inc. (NYSE: RAMP)
Filing Type: Form 8-K (Current Report)
Date of Report: August 14, 2024
Reporting Period: Event-based report regarding corporate actions taken on August 14, 2024.
Key Financial Metrics
This filing does not report operational financial metrics such as revenue, profit, cash flow, or margins. The primary financial data disclosed relates to the company's share repurchase program:
- Total Authorized Repurchase Amount: Increased to $1.3 billion.
- Authorization Increase: Additional $200 million authorized.
- Amount Utilized to Date: $978 million.
- Remaining Capacity: $322 million (up from $122 million prior to the increase).
Material Changes
On August 14, 2024, the Board of Directors approved a significant amendment to the Company's existing share repurchase program, originally adopted in 2011:
- Capital Increase: The total authorization was raised by $200 million.
- Duration Extension: The program's expiration date was extended to December 31, 2026.
- Remaining Capacity: The available funds for repurchase increased from $122 million to $322 million.
Guidance, Outlook, and Risks
Management Commentary: The Company retains discretion regarding the timing, manner, price, and amount of any repurchases. The program may be suspended, terminated, or modified at any time without obligation to acquire a specific number of shares.
Risks and Contingencies: The filing includes standard forward-looking statement disclaimers. Execution of the repurchase program is subject to market conditions, operating results, financial condition, and cash requirements. Actual results may differ materially from expectations due to factors beyond the Company's control.
Investor Verification Checklist
- Verify the total remaining capacity of $322 million against the latest 10-Q or 10-K filings to confirm cash availability.
- Review the Company's historical repurchase activity to assess the likelihood of utilizing the new $200 million authorization.
- Confirm the extended program end date of December 31, 2026, in future corporate governance disclosures.
- Monitor subsequent filings for any actual repurchase transactions executed under the amended program.