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LXK > SEC Filings for LXK > Form 8-K on 3-Feb-2014All Recent SEC Filings

Show all filings for LEXMARK INTERNATIONAL INC /KY/ | Request a Trial to NEW EDGAR Online Pro

Form 8-K for LEXMARK INTERNATIONAL INC /KY/


3-Feb-2014

Other Events


Item 8.01. Other Events.

After the close of the markets on January 28, 2014, Lexmark International, Inc. (the "Company") entered into an accelerated share repurchase agreement ("ASR Agreement") with The Bank of Nova Scotia ("Scotiabank"). Pursuant to the terms of the ASR Agreement, the Company will purchase $21 million of the outstanding shares of its Class A Common Stock from Scotiabank. Pursuant to the terms of the ASR Agreement, Scotiabank delivered 468,135 shares to the Company on January 31, 2014, equal to 85 percent of the shares that would be repurchased at a price of $38.13, the closing price of the Company's Class A Common Stock on January 28, 2014. The number of shares to be delivered to the Company by Scotiabank under the ASR Agreement shall be adjusted based on a discount to the average of the daily volume weighted average price of the Company's Class A Common Stock during the term of the ASR Agreement. If the number of shares to be delivered to the Company is less than the initial delivery of shares by Scotiabank, the Company may be required to remit shares or cash to Scotiabank as a result of such adjustment. The share repurchases are expected to be completed during the first quarter of 2014.

After entering into the transaction described above, the Company now has approximately $148 million of share repurchase authority remaining.


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