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
11/6/2006
Date of Report (Date of earliest event reported)
SAFECO CORPORATION
(Exact name of registrant as specified in Charter)
WASHINGTON | 1-6563 | 91-0742146 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Safeco Plaza, Seattle, Washington | 98185 | |
(Address of principal executive officers) | (Zip Code) |
(206) 545-5000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to 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 November 7, 2006, Safeco announced it executed an Accelerated Share Repurchase (ASR) program under which it repurchased 10.2 million shares of its common stock. Approximately $400 million of the shares repurchased under the ASR program are subject to a cap, a mechanism that sets a maximum price for shares repurchased. Additional information regarding the ASR program is included in the press release filed as an exhibit to this Form 8-K.
Item 9.01 | Financial Statements and Exhibits |
Exhibit 99.1 | Press release “Safeco Repurchases 10.2 Million Shares” dated November 7, 2006. |
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 thereunto duly authorized.
SAFECO CORPORATION Registrant | ||||
Dated: November 7, 2006 | /s/ Ross J. Kari | |||
Ross J. Kari Chief Financial Officer and Chief Accounting Officer |