Form 8-K ZIX CORP For: May 11
UNITED 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
Date of report (Date of earliest event reported):
May 11, 2015
ZIX CORPORATION
(Exact Name of Registrant as Specified in Charter)
Texas | 0-17995 | 75-2216818 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
2711 North Haskell Avenue
Suite 2200, LB 36
Dallas, Texas 75204-2960
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (214) 370-2000
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:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | 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 May 12, 2015, Zix Corporation issued a press release announcing that its Board of Directors had authorized on May 11, 2015 a program to repurchase up to $15 million of its shares of common stock from time to time in the open market or in block purchase transactions. The $10 million share repurchase program announced in January 2015 is being terminated and replaced by this new $15 million share repurchase program. A copy of the press release is submitted herewith as Exhibit 99.1.
ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits.
Exhibit |
Description | |
99.1 | Press Release, dated May 12, 2015, titled Zix Corporation Announces Share Repurchase Program. |
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.
ZIX CORPORATION | ||
By: | /s/ James F. Brashear | |
James F. Brashear | ||
General Counsel |
Dated: May 12, 2015
INDEX TO EXHIBITS
Exhibit |
Description | |
99.1 | Press Release, dated May 12, 2015, titled Zix Corporation Announces Share Repurchase Program. |
Exhibit 99.1
Zix Corporation Announces Share Repurchase Program
DALLAS May 12, 2015 Zix Corporation (ZixCorp), (Nasdaq: ZIXI), a leader in email data protection, announced that its board of directors approved a share repurchase program that enables the company to purchase up to $15 million of its shares of common stock from time to time in the open market or in block purchase transactions. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. The share purchases will be funded from cash from operations and may be suspended or discontinued at any time. The share repurchase program is scheduled to expire on Oct. 31, 2015.
The $10 million share repurchase program announced in January 2015 is being terminated and replaced by this new $15 million share repurchase program.
With a solid performance in the first quarter, a positive outlook for the remainder of the year and a stable business model, we believe an appropriate use of our healthy cash balance is a larger investment in our companys future through a new share repurchase program, said Rick Spurr, ZixCorps Chief Executive Officer.
About Zix Corporation
ZixCorp is a leader in email data protection. ZixCorp offers industry-leading email encryption, a unique email DLP solution and an innovative email BYOD solution to meet your companys data protection and compliance needs. ZixCorp is trusted by the nations most influential institutions in healthcare, finance and government for easy to use secure email solutions. ZixCorp is publicly traded on the Nasdaq Global Market under the symbol ZIXI, and its headquarters are in Dallas, Texas. For more information, visit www.zixcorp.com.
###
ZixCorp Contact
Investor Relations
Todd Kehrli or Jim Byers
(323) 468-2300
Statements in this release that are not purely historical facts or that necessarily depend upon future events, including statements regarding ZixCorps plan to repurchase a portion of its common shares in the open market, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to ZixCorp on
the date this release was issued. ZixCorp undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to ZixCorps overall financial and cash generation performance, potential other uses for ZixCorps cash, potential limitations on repurchases, conditions in the market for ZixCorps stock and other corporate developments. Further information regarding factors that could affect ZixCorps ability to successfully execute its plan to repurchase a portion of its shares of common stock can be found in the risk factors section of ZixCorps most recent filing on Form 10-K with the Securities and Exchange Commission.
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