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GTSI > SEC Filings for GTSI > Form 8-K on 12-Jun-2009All Recent SEC Filings

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Form 8-K for GTSI CORP


12-Jun-2009

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events

Effective June 8, 2009, the Board of Directors of GTSI Corp.(the "Board") authorized a program for periodic purchases of common stock of GTSI Corp. ("GTSI") through May 27, 2011 for an aggregate purchase price not to exceed $5 million (the "Program"), replacing GTI's stock repurchase program announced in December 2008. Under the Program, GTSI's repurchase of shares may be conducted from time to time as GTSI's chief executive officer or chief financial officer may determine in open market transactions or privately negotiated transactions. Share repurchases under the Program will be subject to
(a) applicable federal securities laws and other legal requirements and GTSI's Credit Agreement (effective May 27, 2009), including the requirements therein that the aggregate purchase price for share repurchases over the two-year term of the Credit Agreement shall not exceed $5 million and that GTSI is otherwise in compliance with the Credit Agreement. The Program also requires quarterly reporting to the Board of any share repurchases; and the Board's prior approval for any use of repurchased shares. The Program does not obligate GTSI to acquire any particular number of shares. As of June 11, 2009, GTSI had 9,629,744 shares of common stock outstanding and the closing price of such common stock was $5.55 per share.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

99.1 Press Release issued by GTSI Corp., dated June 12, 2009.


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