Southern First Bancshares Inc 8-K, filed Mar 9, 2021
Southern First Bancshares Inc (SFST)
About this 8-K
Southern First Bancshares Inc filed this 8-K on March 9, 2021.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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ITEM 8.01 Other Events.
The Board of Directors of Southern First Bancshares, Inc. (the “Company”) announced the authorization for the repurchase of up to 388,612 shares, or approximately 5%, of the Company’s common stock under a share repurchase plan.
Under the repurchase plan, the Company may repurchase shares from time to time by means of, among other means, open market purchases and in solicited and unsolicited privately negotiated transactions. The actual means and timing of any purchases, quantity of purchased shares and prices will be, subject to certain limitations, at the discretion of management and will depend on a number of factors, including the market price of the Company’s common stock, share issuances under Company equity plans, general market and economic conditions, and applicable legal and regulatory requirements.
The Company’s management believes the repurchase plan, depending upon market and business conditions, may, among other things, provide capital management opportunities for the Company. The Company is not obligated to repurchase any such shares under the repurchase plan. The repurchase plan may be discontinued, suspended or restarted at any time; however, repurchases under the share repurchase program after December 31, 2021 would require additional Board of Directors and Federal Reserve approval.
EXHIBIT INDEX
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SOUTHERN FIRST BANCSHARES, INC. | ||
| By: /s/ Michael D. Dowling | ||
| Name: Michael D. Dowling | ||
| Title: Chief Financial Officer | ||
| March 9, 2021 | ||