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): September 3, 2021
Frontdoor, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 001-38617 | 82-3871179 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
150 Peabody Place, Memphis, Tennessee | 38103 | |
(Address of principal executive offices) | (Zip Code) |
(901) 701-5000
(Registrant’s telephone number, including area code)
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):
☐ | 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)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading | Name of each exchange | ||
Common stock, par value $0.01 per share | FTDR | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On September 3, 2021, the Board of Directors of Frontdoor, Inc. (the “Company”) authorized the repurchase of up to $400 million of our common stock over the three-year period from September 3, 2021 through September 3, 2024 (the “Repurchase Program”). Stock repurchases may be effected through open market repurchases at prevailing market prices, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, privately-negotiated transactions, block purchases, or a combination of these methods on such terms and in such amounts as management deems appropriate. We are not obligated to repurchase any specific number of shares, and the timing, manner, value and actual number of shares repurchased will depend on a variety of factors, including our stock price, general market and economic conditions, our liquidity requirements and other business considerations. The Company may discontinue purchases without notice at any time.
On September 7, 2021, the Company issued a press release announcing the adoption of the Repurchase Program. A copy of the press release is attached as Exhibit 99.1 and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description of Exhibit | |
99.1 | Press Release of Frontdoor, Inc., dated September 7, 2021 | |
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.
Dated: September 7, 2021 | FRONTDOOR, INC. | |||||||
By: | /s/ Jeffrey A. Fiarman | |||||||
Name: | Jeffrey A. Fiarman | |||||||
Title: | Senior Vice President, General Counsel and Secretary |