Red Violet, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Red Violet, Inc. (RDVT) on April 3, 2024, covering events occurring on March 28 and March 29, 2024. The company is incorporated in Delaware and trades on The NASDAQ Stock Market LLC.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only specific financial data disclosed relates to a stock repurchase transaction:
- Shares Repurchased: 200,000 shares of common stock.
- Price Per Share: $20.50.
- Total Transaction Value: $4.1 million (200,000 shares x $20.50).
- Counterparty: Greater Miami Jewish Federation, Inc.
Material Changes
The primary material change reported is the amendment and execution of the Company's Stock Repurchase Program:
- Program Amendment: On March 28, 2024, the Board approved an additional $5.0 million in authorization for the Stock Repurchase Program.
- Pre-Amendment Status: Approximately $4.0 million remained available prior to the amendment.
- Post-Transaction Status: Following the March 29 repurchase, the Greater Miami Jewish Federation, Inc. is no longer a beneficial holder of any Company securities.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of specific risks and contingencies beyond the standard disclosure of the stock repurchase event.
Key Facts for Investor Verification
- Verify the total remaining authorization under the Stock Repurchase Program after the $5.0 million increase and the $4.1 million repurchase.
- Confirm the current beneficial ownership status of the Greater Miami Jewish Federation, Inc. (reported as zero).
- Review the Company's most recent 10-Q or 10-K for comprehensive liquidity and debt positions, as this 8-K does not provide them.