Current Report Filing (8-k)
March 24 2022 - 7:19AM
Edgar (US Regulatory)
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2022-03-23
2022-03-23
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 23, 2022
STAGWELL
INC.
(Exact name of registrant as specified in its charter)
Delaware |
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001-13718 |
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86-1390679 |
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(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
One
World Trade Center, Floor 65
New York, NY 10007
(Address of
principal executive offices) (Zip Code)
(646)
429-1800
(Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section
12(b) of the Act:
Title
of each class |
Trading
symbol(s) |
Name
of each exchange on which registered |
Class
A Common Stock, $0.001 par value |
STGW |
NASDAQ |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01. |
Regulation FD Disclosure. |
On March 23, 2022, Stagwell Inc. (the “Company”)
issued a press release regarding the Repurchase Program (as defined below). A copy of the press release is attached hereto as Exhibit
99.1 and is incorporated herein by reference.
This Item 7.01 and Exhibit 99.1 are being furnished
and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference into any other
filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such
a filing.
On March 23, 2022, the Company announced that its
board of directors has authorized a stock repurchase program (the “Repurchase Program”) under which it may repurchase up to
$125.0 million of shares of its outstanding Class A common stock. The Repurchase Program will expire on March 23, 2025.
Under the Repurchase Program, share repurchases
may be made at the Company’s discretion from time to time in open market transactions at prevailing market prices (including through
trading plans that may be adopted in accordance with Rule 10b5-1 of the Exchange Act), in privately negotiated transactions, or through
other means. The timing and number of shares repurchased under the Repurchase Program will depend on a variety of factors, including the
performance of the Company’s stock price, general market and economic conditions, regulatory requirements, the availability of funds,
and other considerations the Company deems relevant. The Repurchase Program may be suspended, modified or discontinued at any time without
prior notice. The Company’s board of directors will review the Repurchase Program periodically and may authorize adjustments of
its terms.
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 24, 2022
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STAGWELL INC. |
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By: |
/s/ Peter McElligott |
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Peter McElligott |
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General Counsel |
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