eGain Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
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Item 8.01Other Events.
On November 15, 2024, the Board of Directors of eGain Corporation (“eGain”) approved an extension to the stock repurchase program from November 14, 2024, until the earlier of (i) the date the aggregate amount of shares that can be repurchased under the stock repurchase program have been repurchased and (ii) November 14, 2025. Pursuant to the stock repurchase program, eGain may repurchase up to $40 million in aggregate of its outstanding common stock. As of November 15, 2024, eGain has repurchased approximately $27.6 million of shares of its common stock under its stock repurchase program, leaving approximately $12.4 million of shares of its common stock available for repurchase.
Under the stock repurchase program, eGain may purchase shares of common stock on a discretionary basis from time to time through open market transactions or privately negotiated transactions at prices deemed appropriate by eGain. In addition, at the discretion of eGain, open market repurchase of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when eGain might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions.
The timing and number of shares repurchased will be determined based on an evaluation of market conditions and other factors, including stock price, trading volume, general business and market conditions, and capital availability. The stock repurchase program does not obligate eGain to acquire a specified number of shares and may be modified, suspended, or discontinued at any time at eGain’s discretion without notice.
A copy of the press release relating to the changes to the stock repurchase program is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
EXHIBIT NO. | DESCRIPTION | |
99.1 | Press release, dated November 21, 2024, of eGain Corporation. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
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 thereunto duly authorized.
Date: November 21, 2024 | eGain Corporation | |
By: | /s/ Eric N. Smit | |
Eric N. Smit Chief Financial Officer |
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