BEL FUSE INC /NJ Files 8-K on Operations and Financial Condition

TL;DR

**BEL FUSE INC /NJ just dropped an 8-K on Feb 21, 2024, covering their latest financial results and other key events.**

AI Summary

BEL FUSE INC /NJ filed an 8-K on February 21, 2024, to report on Results of Operations and Financial Condition, as well as Other Events and Financial Statements and Exhibits. The filing indicates the company's Class A Common Stock and Class B Common Stock were part of the event reported on this date. The company, incorporated in New Jersey, has its principal executive offices at 300 Executive Drive, Suite 300, West Orange, New Jersey 07052.

Why It Matters

This 8-K filing provides an update on BEL FUSE INC /NJ's financial condition and operations, offering transparency to investors regarding the company's current status.

Risk Assessment

Risk Level: low — This 8-K is a routine filing for reporting financial conditions and other events, not indicating any immediate specific risks.

Key Players & Entities

• BEL FUSE INC /NJ (company) — Registrant
• New Jersey (location) — State of incorporation and principal executive offices
• February 21, 2024 (date) — Date of earliest event reported and filing date
• 0-11676 (other) — Commission File Number
• 22-1463699 (other) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

• $0.10 — hich Registered Class A Common Stock ($0.10 par value) BELFA Nasdaq Global Selec
• $25.0 million — mpany is authorized to repurchase up to $25.0 million of shares of the Company's outstanding
• $4.0 million — hares and Class B shares in portions of $4.0 million and $21.0 million, respectively, prorat
• $21.0 m — shares in portions of $4.0 million and $21.0 million, respectively, prorated to take i

Filing Documents

• belfb20231110_8k.htm (8-K) — 36KB
• ex_595038.htm (EX-99.1) — 442KB
• image00001.jpg (GRAPHIC) — 9KB
• 0001437749-24-005086.txt ( ) — 672KB
• belfb-20240221.xsd (EX-101.SCH) — 4KB
• belfb-20240221_def.xml (EX-101.DEF) — 13KB
• belfb-20240221_lab.xml (EX-101.LAB) — 17KB
• belfb-20240221_pre.xml (EX-101.PRE) — 13KB
• belfb20231110_8k_htm.xml (XML) — 5KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On February 21, 2024, Bel Fuse Inc. ("Bel" or the "Company") issued a press release regarding results for the three and twelve months ended December 31, 2023. A copy of this press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

01. Other Events

Item 8.01. Other Events. On February 21, 2024, the Board of Directors of the Company approved a share repurchase program (the "Repurchase Program"), pursuant to which the Company is authorized to repurchase up to $25.0 million of shares of the Company's outstanding Class A Common Stock, par value $0.10 per share (the "Class A Stock") and Class B Common Stock, par value $0.10 per share (the "Class B Stock", and collectively with the Class A Common Stock, the "Common Stock"). The aggregate $25.0 million available for repurchases under the Repurchase Program has been suballocated for purchases of Class A Shares and Class B shares in portions of $4.0 million and $21.0 million, respectively, prorated to take into account the number of outstanding shares of each respective class. Shares of Common Stock may be Repurchased pursuant to the Repurchase Program in open market, privately negotiated or block transactions or otherwise from time to time, depending upon market conditions and other factors, and in accordance with applicable law and regulations of the Securities and Exchange Commission, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. All shares of Common Stock repurchased pursuant to the Repurchase Program will be cancelled and be available for use and reissuance as and when determined by the Board of Directors including, without limitation, pursuant to the Company's 2020 Equity Compensation Plan or in connection with the administration of any other employee benefit plan maintained by the Company. The Repurchase Program has no expiration date. The Repurchase Program does not obligate the Company to repurchase any dollar amount or number of shares, and the Repurchase Program may be suspended or terminated at any time. The timing and actual number of shares repurchased will depend on a variety of factors including price, market conditions, corporate and regulatory requirements and the consideration of other uses of cash including other inve

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits As described in Item 2.02 of this Report, the following Exhibit 99.1 is furnished as part of this Current Report on Form 8-K: 99.1 Press Release of Bel Fuse Inc. dated February 21, 2024, related to the financial results of the Company for the fourth quarter and year ended December 31, 2023, furnished hereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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 hereunto duly authorized. Date: February 21, 2024 BEL FUSE INC. (Registrant) By: /s/Daniel Bernstein Daniel Bernstein President and Chief Executive Officer EXHIBIT INDEX Exhibit No. Description 99.1 Press release issued by the Company, dated February 21, 2024 related to the financial results of the Company for the three and twelve months ended December 31, 2023. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

View Full Filing

View this 8-K filing on SEC EDGAR