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SJM > SEC Filings for SJM > Form 8-K on 19-Feb-2014All Recent SEC Filings

Show all filings for SMUCKER J M CO

Form 8-K for SMUCKER J M CO


Other Events

Item 8.01 Other Events.

On February 19, 2014, The J. M. Smucker Company (the "Company") entered into a share repurchase plan (the "Plan") established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in connection with the 5,000,000 common shares authorized for repurchase by the Company's Board of Directors in January 2013. A Rule 10b5-1 plan allows a company to repurchase its shares at times when it otherwise might be unable to do so under the Exchange Act's insider trading rules or during self-imposed trading blackout periods.

The Plan will facilitate purchases of the Company's common shares under its authorized share repurchase program. Under the repurchase program, the Company has repurchased 2,145,339 common shares since January 2013 and, therefore, the Company has remaining authorization to repurchase 2,854,661 common shares as of February 19, 2014. The Company's designated broker will have authority under the Plan to repurchase up to 2,850,000 of the remaining 2,854,661 common shares authorized for repurchase commencing on February 19, 2014 and expiring on August 19, 2014, unless terminated earlier in accordance with the terms of the Plan. Repurchases under the Plan will be subject to specified parameters and certain price and volume restraints as established in the Plan. Therefore, there is no guarantee as to the exact number of common shares that will be repurchased or that there will be any repurchases at all pursuant to the Plan. Any repurchased shares will be held in treasury.

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