Verisk Analytics, Inc 8-K, filed Nov 14, 2022
Verisk Analytics, Inc. (VRSK)
About this 8-K
Verisk Analytics, Inc filed this 8-K on November 14, 2022, reporting on events of November 8, 2022.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 14, 2022 (
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| Item 8.01 | Other Events |
On November 8, 2022, the Board of Directors of Verisk Analytics, Inc. (the “Company”) authorized an incremental $3.5 billion of share repurchases under its existing share repurchase program. The Company is authorized to repurchase up to $500 million of its common stock effective immediately. The remaining $3.0 billion of the incremental share repurchase authorization is conditioned upon, and shall be effective only after, the closing of the divestiture of the Company’s Energy business pursuant to the terms of the Equity Purchase Agreement dated October 28, 2022 with Veritas Capital and the receipt of cash proceeds contemplated thereunder. All such amounts shall be in addition to the previously announced share repurchase authorizations remaining as of the date hereof.
Under the Company’s share repurchase program, the Company may repurchase shares in the open market or as otherwise may be determined by the Company, subject to market conditions, business opportunities, and other factors. The Company has no obligation to repurchase shares under its share purchase program.
This authorization has no expiration date and may be suspended or terminated at any time. Repurchased shares will be recorded as treasury stock but will be available for future reissuance.
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.
| VERISK ANALYTICS, INC. | ||||||||
| Date: November 14, 2022 | By: | /s/ Kathy Card Beckles | ||||||
| Name: | Kathy Card Beckles | |||||||
| Title: | Executive Vice President, General Counsel and Corporate Secretary | |||||||