Form 8-K ADOBE SYSTEMS INC For: Jan 17
Tweet
Share
E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): January 17, 2017 (January 12, 2017)
Adobe Systems Incorporated
(Exact name of Registrant as specified in its charter)
Delaware | 0-15175 | 77-0019522 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
345 Park Avenue
San Jose, California 95110-2704
(Address of principal executive offices and zip code)
San Jose, California 95110-2704
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (408) 536-6000
Not Applicable
(Former name or former address, if changed since last report)
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 (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On January 17, 2017, Adobe issued a press release announcing that its Board of Directors has approved a new stock repurchase program granting the Company authority to repurchase up to $2.5 billion in common stock through the end of fiscal 2019. A copy of this press release is furnished and attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Under our new stock repurchase program, which is designed to return value to our stockholders and minimize dilution from stock issuances, we may repurchase shares in the open market and also enter into structured repurchase agreements with third parties. The new stock repurchase program approved by our Board of Directors is substantially similar to our previous program authorizing the repurchase of up to $2.0 billion in common stock through fiscal 2017.
2
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.
ADOBE SYSTEMS INCORPORATED | ||||
Date: January 17, 2017 | By: | /s/ Mark Garrett | ||
Mark Garrett | ||||
Executive Vice President and Chief Financial Officer | ||||
3
EXHIBIT INDEX
Exhibit | Incorporated by Reference | Filed | |||||||||
Number | Exhibit Description | Form | Date | Number | Herewith | ||||||
99.1 | Press release issued on January 17, 2017 entitled "Adobe Announces Program to Repurchase $2.5 Billion of Stock by End of FY2019" | X | |||||||||
4
EXHIBIT 99.1
Investor Relations Contact
Mike Saviage
Adobe
408-536-4416
Press Contact
Dan Berthiaume
Adobe
408-536-2584
Adobe Announces Program to Repurchase $2.5 Billion of Stock by End of FY2019
SAN JOSE, Calif. - Jan. 17, 2017 - Adobe Systems Incorporated (Nasdaq: ADBE) today announced its Board of Directors has approved a new stock repurchase program granting the company authority to repurchase up to $2.5 billion in common stock through the end of fiscal year 2019. Under the new stock repurchase program, which is designed to return value to Adobe’s stockholders and minimize dilution from stock issuances, the company may repurchase shares in the open market and also enter into structured repurchase agreements with third parties. The new stock repurchase program approved by Adobe’s Board of Directors, is substantially similar to the company’s previous program authorizing the repurchase of up to $2.0 billion in common stock through fiscal year 2017, which authority will soon be exhausted.
“We’re coming off a year of record cash flow generation and our balance sheet continues to be strong. Adobe’s new share repurchase program underscores our commitment to returning value to our stockholders, as we execute on our long-term growth strategy,” said Mark Garrett, executive vice president and chief financial officer, Adobe.
Forward-Looking Statements Disclosure
This press release contains forward-looking statements, including those related to Adobe’s stock repurchases and business momentum, which involve risks and uncertainties that could cause actual results to differ materially, including but not limited to, risks and uncertainties described in Adobe’s Annual Report on Form 10-K for our fiscal year 2015 ended Nov. 27, 2015, and Adobe's Quarterly Reports on Form 10-Q issued in fiscal year 2016. For further discussion of these and other risks and uncertainties, individuals should refer to Adobe’s SEC filings.
About Adobe
Adobe is changing the world through digital experiences. For more information, visit www.adobe.com.
###
© 2017 Adobe Systems Incorporated. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe Systems Incorporated in the United States and/or other countries. All other trademarks are the property of their respective owners.
1
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ASLAN Pharmaceuticals Announces Receipt of Nasdaq Notice
- Northern Dynasty Makes Annual Filings
- Midday movers: Netflix, Super Micro fall; Paramount Global gains
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
