SS&C Technologies Holdings Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits
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Item 2.02. Results of Operations and Financial Condition
On July 25, 2024, SS&C Technologies Holdings, Inc. (the “Company”) announced its financial results for the quarter ended June 30, 2024. The full text of the press release and earnings release presentation issued in connection with the announcement are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.
The information in this Form 8-K (including Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 8.01. Other Events
On July 25, 2024, the Company announced that as part of its capital allocation strategy to maximize stockholder value, its Board of Directors (the “Board”) has authorized the renewal of the stock repurchase program, which will enable the Company to repurchase up to $1 billion in the aggregate of the Company's outstanding shares of common stock. Under the renewed program, the Company's proposed repurchases may be made from time to time in one or more transactions on the open market or in privately negotiated purchase and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations promulgated under the Securities Exchange Act of 1934, as amended.
The timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company's stock plans and for other corporate purposes. The Company's authority to repurchase shares under the renewed program shall continue until the one-year anniversary of the Board's authorization, unless earlier terminated by the Board.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
The following exhibits relating to Item 2.02 shall be deemed to be furnished, and not filed:
99.1 |
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99.2 |
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104 |
The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
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 hereunto duly authorized.
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SS&C TECHNOLOGIES HOLDINGS, INC. |
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Date: July 25, 2024 |
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By: |
/s/ Brian N. Schell |
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Brian N. Schell |
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Executive Vice President and Chief Financial Officer |