Byrna Technologies Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

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Washington, D.C. 20549

 

 

 

Date of Report (Date of earliest event reported): July 31, 2024

 

(Exact name of registrant as specified in its charter)

 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

 

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

On July 31, 2024, the Board of Directors of Byrna Technologies Inc. (the “Company”) authorized a stock repurchase program (the “Program”). Under this Program the Company may repurchase up to $10 million of its common stock during a period of two years. The Program permits shares to be repurchased in open market transactions, through block trades and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission (each, a “Plan”).

 

Repurchases may be made under a Plan in amounts and at prices set therein based on management’s discretionary determination of prices management considers to be attractive and in the best interests of both the Company and its stockholders, subject to the availability of stock, general market conditions, the applicable trading price, future alternative advantageous uses for capital, and the Company’s financial performance. Such repurchases also will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.

 

The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases.

 

The repurchase program does not obligate the Company to purchase any particular number of shares.

 

The Company issued a press release on August 5, 2024 that describes the stock repurchase program. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

 

 

 

 

 

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.