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| WXS > SEC Filings for WXS > Form 8-K on 31-Aug-2009 | All Recent SEC Filings |
31-Aug-2009
Entry into a Material Definitive Agreement, Other Events, Financial Statement
On August 26, 2009,Wright Express Corporation (the "Company") purchased put option contracts and sold call option contracts, designed to be a costless collar, on the wholesale price of gasoline and the retail price of diesel fuel with Bank of America, N.A. (collectively, the "Contracts"). The Contracts have an aggregate notional amount of approximately nine million gallons of gasoline and diesel fuel and will expire on a monthly basis during the last two quarters of 2010 and the first quarter of 2011. The settlement of the Contracts is based upon the New York Mercantile Exchange's New York Harbor Reformulated Gasoline Blendstock for Oxygen Blending and the U.S. Department of Energy's weekly retail on-highway diesel fuel price for the month. The Contracts lock in a weighted average retail floor price of approximately $2.70 per gallon and a weighted average retail ceiling price of approximately $2.76 per gallon.
On August 31, 2009, the Company issued a press release announcing this transaction.
On August 31, 2009, the Company issued a press release entitled "Wright Express Extends Its Existing Fuel-Price Risk Management Program." A copy of the press release is furnished as exhibit 99.1 and is incorporated by reference in its entirety.
99.1 Press release of Wright Express Corporation dated August 31, 2009
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