UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 8.01 Other Events
On December 16, 2021 (the “Authorization Date”), the Board of Directors of Bright Horizons Family Solutions Inc. (the “Company”) authorized a new share repurchase program under which up to $400 million of the Company’s outstanding common stock may be repurchased. The share repurchase program, which is effective as of the Authorization Date, replaces and cancels the prior $300 million authorization announced in June 2018, of which approximately $0.2 million remained available thereunder as of the Authorization Date. Shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, under Rule 10b5-1 plans, or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of the Company’s stock, general market and economic conditions, applicable legal requirements, and compliance with the terms of the Company’s senior secured credit facility. Shares purchased under the program will be retired. The share repurchase program does not have an expiration date and may be suspended, modified or discontinued at any time without prior notice.
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 thereunto duly authorized.
| BRIGHT HORIZONS FAMILY SOLUTIONS INC. | ||||||||
| Date: | December 17, 2021 |
By: | /s/ Elizabeth Boland | |||||
| Elizabeth Boland | ||||||||
| Chief Financial Officer | ||||||||