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TIPT > SEC Filings for TIPT > Form 8-K on 13-May-2016All Recent SEC Filings

Show all filings for TIPTREE FINANCIAL INC.



Other Events

Item 8.01 Other Events.

On May 13, 2016, Tiptree Financial Inc. (the "Company") engaged a broker in connection with a share repurchase program for the daily repurchase of up to $2.5 million of the Company's outstanding Class A common stock ("Shares") plus block purchases of up to $10 million of Shares in the aggregate, at the discretion of the Company's Executive Committee. In addition, on the same date, Michael Barnes, Chairman of the Board and Executive Chairman of the Company, entered into a Rule 10b5-1 plan pursuant to which he will, for his own account, purchase up to $2.5 million of Shares. Repurchases (other than block purchases) by the Company and purchases by Mr. Barnes will be made through a single broker and will be allocated equally between the Company and Mr. Barnes.

The Company expects the share purchases to be made from time to time in the open market or through privately negotiated transactions, or otherwise, subject to applicable laws and regulations. The timing of the share purchases will depend on a variety of factors, including market conditions, and the Company and Mr. Barnes may purchase less than the aggregate dollar amount of Class A common stock indicated above.

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