Current Report Filing (8-k)
January 14 2021 - 8:31AM
Edgar (US Regulatory)
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false
0000806279
2021-01-12
2021-01-12
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): January 12, 2021
CODORUS
VALLEY BANCORP, INC.
(Exact
name of registrant as specified in its charter)
pennsylvania
(State
or other jurisdiction of incorporation)
|
0-15536
|
23-2428543
|
|
|
(Commission file
number)
|
(IRS employer ID)
|
|
105
Leader Heights Road, PO Box 2887, York, Pennsylvania
|
17405-2887
|
(Address
of principal executive office)
|
(Zip
Code)
|
Registrant's
telephone number, including area code - (717) 747-1519
N/A
(Former
name, address and fiscal year, if changed since last report.)
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
Trading
Symbol
|
Name
of each exchange on which registered
|
Common
Stock, $2.50 par value
|
CVLY
|
NASDAQ
Global Market
|
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)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate
by checkmark 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 checkmark 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 ☐
CODORUS
VALLEY BANCORP, INC.
FORM
8-K
Item
7.01 Regulation FD Disclosure
On January 14, 2021, Codorus Valley Bancorp, Inc. (the "Company") issued a press release announcing that the Company's Board of Directors approved a new treasury stock repurchase program. Under the newly approved stock repurchase program, the Company is authorized to repurchase up to $5 million in aggregate value of the Company's issued and outstanding shares at January 12, 2021. The Board of Directors' authorization provides that: (1) the new treasury stock repurchase program shall be effective when publicly announced and shall continue thereafter until the earlier of the date an aggregate of $5 million of common stock has been repurchased or January 31, 2022, or until suspended or terminated by the Board of Directors, in its sole discretion; and (2) all shares of common stock repurchased pursuant to the new program shall be held as treasury shares and be available for use and reissuance for purposes as and when determined by the Board of Directors including, without limitation, pursuant to the Company's Dividend Reinvestment and Stock Purchase Plan and its equity compensation program.
A copy of the Company's press release announcing approval of the treasury stock repurchase program is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly authorized.
|
|
CODORUS
VALLEY BANCORP, INC.
|
|
|
|
|
Date: January
14, 2021
|
|
By:
|
/s/
Larry J. Miller
|
|
|
|
Larry
J. Miller
|
|
|
|
Chairman,
President and Chief Executive Officer
|
|
|
|
(Principal
Executive Officer)
|
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