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RMD > SEC Filings for RMD > Form 8-K on 27-Feb-2014All Recent SEC Filings

Show all filings for RESMED INC

Form 8-K for RESMED INC


Other Events

Item 8.01. Other Events.

On February 21, 2014, our board of directors approved a new share repurchase program, authorizing us to acquire up to an aggregate of 20 million shares of our common stock. The program allows us to repurchase shares from time to time for cash in the open market, or in negotiated or block transactions, as market and business conditions warrant and subject to applicable legal requirements. As of February 21, 2014, the 20 million authorization amount represented approximately 14% of our outstanding common stock, excluding treasury shares we already hold.

This program cancels and replaces our previous share repurchase program, and the 20 million shares the new program authorizes us to purchase are in addition to the shares we repurchased on or before February 21, 2014 under our previous program. As of February 21, 2014, there were approximately 1.9 million remaining shares authorized for repurchase under the previous program, which was cancelled and replaced with the new program.

There is no expiration date for this program, and the program may be accelerated, suspended, delayed or discontinued at any time at the discretion of our board. All share repurchases after February 21, 2014 will be executed under this program, subject to future authorizations, if any. The shares repurchased will be classified as treasury stock pending future use.

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