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WMAR > SEC Filings for WMAR > Form 8-K on 16-Aug-2013All Recent SEC Filings

Show all filings for WEST MARINE INC



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Item 8.01 Other Events

On August 15, 2013, West Marine, Inc. (the "Company") entered into a written trading plan (the "10b5-1 Plan") under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), to facilitate the repurchase of its shares in accordance with the Company's existing share repurchase authorization. As previously announced on March 15, 2013, the Company's Board of Directors approved the repurchase by the Company of up to $10 million of its common stock through open market or privately negotiated transactions.

The 10b5-1 Plan allows the Company's broker to repurchase common stock on the Company's behalf pursuant to the terms and limitations specified in the Plan, to the extent such purchases are permitted pursuant to Regulation M and Rule 10b-18 of the Exchange Act. The 10b5-1 Plan is effective as of August 23, 2013 and terminates on October 18, 2013, which is the time when the Company ordinarily would be prevented from repurchasing its stock under the Exchange Act's insider trading rules or self-imposed blackout periods. There can be no assurance that any stock will be repurchased by the Company through this 10b5-1 Plan.

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