SEC 8-K Filing Summary: The Boston Beer Company, Inc.
Business Context and Reporting Period
This Current Report on Form 8-K was filed by The Boston Beer Company, Inc. on April 1, 2003. The filing addresses a corporate action regarding the company's capital structure and shareholder return program.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, or margins. The only financial data disclosed relates to the stock repurchase program:
- Repurchase Program Limit: Increased to $60,000,000.
- Shares Repurchased: Approximately 5,377,000 shares.
- Aggregate Cost: Approximately $49,944,000.
Material Changes
The Board of Directors increased the aggregate expenditure limitation on the Class A Common Stock repurchase program by $10,000,000, raising the total authorization from $50,000,000 to $60,000,000.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies. The report is strictly limited to the disclosure of the increased stock repurchase authorization under Item 5 (Other Events).
Key Facts for Investor Verification
- Verify the current remaining authorization under the repurchase program ($10,056,000 based on the $60M limit and $49.944M spent).
- Confirm the average price per share paid in the repurchase program (approximately $9.29 per share based on disclosed totals).
- Check subsequent filings for any further increases to the repurchase limit or changes in the program's status.