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): March 21, 2000 ALLMERICA FINANCIAL CORPORATION (Exact name of Registrant as specified in its charter) Delaware 1-13754 04-3263626 (State or other (Commission File (I.R.S. Employer I.D. jurisdiction of Number) Number) Incorporation) 440 Lincoln Street, Worcester, Massachusetts 01653 (Address of Principal Executive Offices) (Zip Code) (508) 855-1000 (Registrant's Telephone Number including area code) Page 1 of 5 pages Exhibit Index on page 4 Item 5. Other Events. On March 21, 2000, Allmerica Financial Corporation announced that its board of directors has authorized the expenditure of up to an additional $100 million to repurchase outstanding shares of its own common stock. Item 7. Financial Statements and Exhibits. Exhibit 99 Press Release dated March 21, 2000, announcing Allmerica Financial Corporation authorizes expansion of stock repurchase program. Page 2 of 5 SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ALLMERICA FINANCIAL CORPORATION By: /s/ Edward J. Parry III ------------------------- Edward J. Parry III Vice President, Chief Financial Officer, and Treasurer Date: March 22, 2000 Page 3 of 5 Exhibit Index - ------------- Exhibit 99 Press Release dated March 21, 2000, announcing Allmerica Financial Corporation authorizes expansion of stock repurchase program. Page 4 of 5 EXHIBIT 99 ALLMERICA FINANCIAL BOARD AUTHORIZES EXPANSION OF STOCK REPURCHASE PROGRAM WORCESTER, Mass., March 21, 2000 - Allmerica Financial Corporation (NYSE: AFC) today announced that its board of directors has authorized the additional expenditure of up to $100 million to repurchase outstanding shares of the Company's common stock in an ongoing stock buy-back program. Purchases will be made in the open market or through negotiated transactions. "The expansion of our stock repurchase program demonstrates the confidence we have in our operating strategies and our ability to deliver solid shareholder value," said John F. O'Brien, Allmerica's president and chief executive officer. As of yesterday, the Company had acquired 6,725,800 shares of its own common stock for approximately $361 million through the repurchase program initiated in October 1998. Allmerica has about $39 million remaining from a prior authorization. Allmerica Financial Corporation is the holding company for a diversified group of insurance and financial services companies based in Worcester, Mass. Contact: Investors: Media: Henry St. Cyr Michael F. Buckley (508) 855-2959 (508) 855-3099 Page 5 of 5