Griffon Corp Approves $100M Stock Repurchase Program

TL;DR

Griffon just authorized a $100M buyback program, effective immediately until March 2026.

AI Summary

Griffon Corporation announced on March 20, 2024, that its Board of Directors has approved a new stock repurchase program authorizing the repurchase of up to $100 million of the company's common stock. This program is effective immediately and will continue until March 20, 2026, or until the authorized amount is fully utilized.

Why It Matters

This significant stock repurchase authorization signals Griffon's confidence in its financial health and its commitment to returning value to shareholders, potentially boosting the stock price.

Risk Assessment

Risk Level: low — The filing is a routine announcement of a stock repurchase program, which is generally a positive signal and does not indicate significant new risks.

Key Numbers

• $100M — Stock Repurchase Authorization (Amount approved by the board for buying back company stock.)
• 2 years — Program Duration (The timeframe the repurchase program is active.)

Key Players & Entities

• Griffon Corporation (company) — The company making the announcement.
• $100 million (dollar_amount) — The authorized amount for the stock repurchase program.
• March 20, 2024 (date) — The date the Board of Directors approved the repurchase program.
• March 20, 2026 (date) — The expiration date of the stock repurchase program.

FAQ

Key Financial Figures

• $0.25 — ange on which registered Common Stock, $0.25 par value GFF New York Stock Exchange

Filing Documents

• gff-20240320.htm (8-K) — 51KB
• 0000050725-24-000063.txt ( ) — 174KB
• gff-20240320.xsd (EX-101.SCH) — 2KB
• gff-20240320_lab.xml (EX-101.LAB) — 21KB
• gff-20240320_pre.xml (EX-101.PRE) — 12KB
• gff-20240320_htm.xml (XML) — 3KB

07. Submission of Matters to a Vote of Security Holders

Item 5.07. Submission of Matters to a Vote of Security Holders. On March 20, 2024, Griffon held the Annual Meeting. Of the 51,309,064 shares of common stock outstanding and entitled to vote, 47,984,661 shares, or 93.5%, were represented at the meeting in person or by proxy, and therefore a quorum was present. The final results for each of the matters submitted to a vote of Shareholders at the Annual Meeting are as follows: Item No. 1: Each of Henry A. Alpert, Jerome L. Coben, H. C. Charles Diao, Louis J. Grabowsky, Lacy M. Johnson, Ronald J. Kramer, Victor Eugene Renuart, James W. Sight, Samanta Hegedus Stewart, Kevin F. Sullivan, Michelle L. Taylor and Cheryl L. Turnbull were elected to serve on the Board until Griffon's 2025 Annual Meeting of Shareholders, by the votes set forth below: 3 Nominee For Withheld Broker Non-Votes Henry A. Alpert 42,442,202 1,529,474 4,012,985 Jerome L. Coben 43,042,056 929,620 4,012,985 H. C. Charles Diao 42,848,878 1,122,798 4,012,985 Louis J. Grabowsky 43,210,588 761,088 4,012,985 Lacy M. Johnson 39,307,740 4,663,936 4,012,985 Ronald J. Kramer 42,608,135 1,363,540 4,012,986 General Victor Eugene Renuart 43,284,032 687,644 4,012,985 James W. Sight 43,393,324 632,351 4,012,986 Samanta Hegedus Stewart 42,661,664 1,310,012 4,012,985 Kevin F. Sullivan 43,005,250 966,425 4,012,986 Michelle L. Taylor 43,267,552 704,124 4,012,985 Cheryl L. Turnbull 43,010,233 961,444 4,012,984 Item No. 2: The Shareholders approved, on an advisory basis, the compensation of the named executive officers as disclosed in the Proxy Statement, by the votes set forth below: For Against Abstain Broker Non-votes 38,069,131 5,626,462 276,078 4,012,990 Item No. 3: The Shareholders approved the Amendment to authorize an increase in the number of shares available for future awards, as disclosed in the Proxy Statement, by the votes set forth below: For Against Abstain BNV 40,242,559 3,446,153 282,960 4,012,989 Item No. 4: The Shareholders

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Exhibit 99.1* Griffon Corporation Amended and Restated 2016 Equity Incentive Plan (incorporated by reference to Exhibit 99.1 to Current Report on Form 8-K dated February 18, 2022 (Commission File No. 001-06620)). 99.2* Amendment No. 1 to the Griffon Corporation Amended and Restated 2016 Equity Incentive Plan (incorporated by reference to Annex B to the Registrant's Proxy Statement relating to the 2024 Annual Meeting of Shareholders, filed with the Securities and Exchange Commission on January 29, 2024 (Commission File No. 001-06620)). * Indicates a management contract or compensatory plan or arrangement. 5

SIGNATURES

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 hereunto duly authorized. GRIFFON CORPORATION By: /s/ Seth L. Kaplan Seth L. Kaplan Senior Vice President, General Counsel and Secretary Date: March 22, 2024 1

View Full Filing

View this 8-K filing on SEC EDGAR