Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
GHDX > SEC Filings for GHDX > Form 8-K on 11-Dec-2012All Recent SEC Filings

Show all filings for GENOMIC HEALTH INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for GENOMIC HEALTH INC


11-Dec-2012

Other Events


Item 8.01 Other Events.

On December 10, 2012, Genomic Health, Inc. (the "Company") entered into a share repurchase program authorized by the Company's board of directors for the purpose of repurchasing up to $30 million of the Company's outstanding shares of common stock. Repurchases of shares under the program may be made pursuant to a collared accelerated share repurchase agreement with J.P. Morgan Securities LLC, as agent for JPMorgan Chase Bank, National Association, London Branch ("JPMorgan"), which will be effective December 12, 2012, or pursuant to a pre-arranged Rule 10b5-1 share repurchase plan.

The specific number of shares that the Company will ultimately repurchase under the accelerated share repurchase agreement will be based generally on the average of the daily volume weighted average prices of shares traded during the term of the agreement, subject to collar provisions that will establish minimum and maximum numbers of shares to be repurchased. The minimum and maximum share numbers will depend generally on the results of an initial hedge to be established by JPMorgan. To the extent that $30 million of shares will not be repurchased under the accelerated share repurchase agreement, purchases may be made under the Rule 10b5-1 share repurchase plan, under which transactions would be effected in accordance with specified price, volume and timing conditions. A plan under Rule 10b5-1 of the Securities Exchange Act of 1934 allows a company to repurchase shares at times when it otherwise might be prevented from doing so under insider trading laws or due to self-imposed trading blackout periods. Because repurchases under a Rule 10b5-1 share repurchase plan are subject to specified parameters, there can be no assurance regarding the number of shares, if any, that will be repurchased pursuant to the plan, and the Company may discontinue repurchases and terminate the plan at any time. Repurchases under the accelerated share repurchase agreement and the Rule 10b5-1 share repurchase plan are expected to end by the middle of the first quarter of 2013.

If $30 million of shares are not purchased through the accelerated share repurchase agreement and Rule 10b5-1 share repurchase plan, the Company may from time to time purchase shares of its common stock, up to the $30 million aggregate authorization, through open market and privately negotiated transactions or through additional accelerated share repurchase agreements or Rule 10b5-1 share repurchase plans, with the timing and amount of any such purchases or additional agreements or plans to be determined by the Company's management based on its evaluation of market conditions and other factors

Any purchases under the share repurchase program will be funded using the Company's working capital. As of September 30, 2012, the Company's cash and cash equivalents and investments and marketable securities were $127.0 million. The Company had approximately 30.8 million shares of common stock outstanding as of November 30, 2012.


  Add GHDX to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for GHDX - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2013 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.