Rocky Brands Approves $20M Stock Repurchase Program
Ticker: RCKY · Form: 8-K · Filed: Jun 7, 2024 · CIK: 895456
| Field | Detail |
|---|---|
| Company | Rocky Brands, Inc. (RCKY) |
| Form Type | 8-K |
| Filed Date | Jun 7, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: stock-repurchase, shareholder-value, board-approval
TL;DR
Rocky Brands is buying back up to $20M of its own stock over the next 2 years.
AI Summary
Rocky Brands, Inc. announced on June 5, 2024, that its Board of Directors has approved a new stock repurchase program. The company is authorized to repurchase up to $20 million of its common stock through June 5, 2026.
Why It Matters
This move signals management's confidence in the company's financial health and its belief that its stock is undervalued, potentially boosting shareholder value.
Risk Assessment
Risk Level: low — Stock repurchase programs are generally viewed positively and indicate financial stability, posing minimal immediate risk.
Key Numbers
- $20.0M — Stock Repurchase Authorization (Maximum amount the company can spend on repurchasing its common stock.)
- 2 years — Repurchase Program Duration (The timeframe within which the stock repurchases can occur.)
Key Players & Entities
- Rocky Brands, Inc. (company) — Registrant
- $20 million (dollar_amount) — Authorized stock repurchase amount
- June 5, 2024 (date) — Date of Board approval and program commencement
- June 5, 2026 (date) — Expiration date of the stock repurchase program
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces that Rocky Brands, Inc.'s Board of Directors has approved a new stock repurchase program.
What is the total amount authorized for stock repurchases?
The company is authorized to repurchase up to $20 million of its common stock.
When did the new stock repurchase program become effective?
The program was approved and became effective on June 5, 2024.
When does the stock repurchase program expire?
The stock repurchase program is authorized to continue through June 5, 2026.
What is the company's ticker symbol?
The filing does not explicitly state the ticker symbol, but the company name is Rocky Brands, Inc.
Filing Stats: 558 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-06-07 16:17:58
Filing Documents
- rcky20240606_8k.htm (8-K) — 46KB
- rb01.jpg (GRAPHIC) — 4KB
- 0001437749-24-019670.txt ( ) — 187KB
- rcky-20240605.xsd (EX-101.SCH) — 3KB
- rcky-20240605_def.xml (EX-101.DEF) — 11KB
- rcky-20240605_lab.xml (EX-101.LAB) — 15KB
- rcky-20240605_pre.xml (EX-101.PRE) — 11KB
- rcky20240606_8k_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 June 5, 2024, Rocky Brands, Inc. (the "Company") held its 2024 Annual Meeting of Shareholders. The following directors were elected to serve until the 2026 Annual Meeting of Shareholders according to the vote tabulation described below: Director Votes For Votes Withheld Broker Non-Votes Michael L. Finn 4,647,709 221,590 1,471,483 G. Courtney Haning 4,636,646 232,653 1,471,483 William L. Jordan 4,787,891 81,408 1,471,483 Curtis A. Loveland 4,159,864 709,435 1,471,483 Robert B. Moore, Jr. 4,311,781 557,518 1,471,483 Additionally, the shareholders also voted on and approved on an advisory, nonbinding basis, the compensation of the Company's named executive officers according to the vote tabulation described below: Votes For Votes Against Abstain Broker Non-Votes 4,694,711 161,471 13,117 1,471,483 The shareholders also voted on and approved the Rocky Brands, Inc. 2024 Omnibus Incentive Plan according to the vote tabulation described below: Votes For Votes Against Abstain Broker Non-Votes 4,532,720 321,055 15,524 1,471,483 Finally, the shareholders ratified the election of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024, according to the vote tabulation described below: Votes For Votes Against Abstain Broker Non-Votes 6,307,702 29,243 3,837 0 2
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. Date: June 7, 2024 Rocky Brands, Inc. /s/ Thomas D. Robertson Thomas D. Robertson Chief Operating Officer, Chief Financial Officer and Treasurer 3