Business Context and Reporting Period
This Form 8-K Current Report was filed by Waterstone Financial, Inc. on May 1, 2015. The filing reports a corporate governance event regarding the authorization of a new stock repurchase program by the Company's Board of Directors.
Key Financial Metrics
The filing does not provide current period revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data disclosed relates to the execution of the terminated stock repurchase program:
- Shares Purchased (Prior Program): 1,408,513 shares
- Weighted Average Price: $12.92 per share
Material Changes
The Board of Directors terminated the existing stock repurchase program, which had authorized the purchase of up to 1,721,170 shares. Simultaneously, the Board authorized a new stock repurchase program allowing for the purchase of up to 2,000,000 shares of the Company's outstanding common stock.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies beyond the announcement of the share repurchase authorization. The press release detailing the event is filed as Exhibit 99.1.
Investor Verification Checklist
- Verify the remaining share count available under the new 2,000,000 share authorization.
- Confirm the total capital outlay for the 1,408,513 shares purchased under the prior program.
- Review the attached press release (Exhibit 99.1) for specific terms regarding the timing and method of future repurchases.