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OFFON

BUILD-A-BEAR WORKSHOP, INC.

(BBW)
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BUILD-A-BEAR WORKSHOP INC : Other Events, Financial Statements and Exhibits (form 8-K)

11/30/2021 | 04:38pm EST

Item 8.01. Other Events.

On November 30, 2021, the Board declared a special cash dividend of $1.25 per share to be paid on December 27, 2021, to all holders of record of issued and outstanding shares of the Company's common stock as of the close of business on December 10, 2021.

On November 30, 2021, Board authorized a stock repurchase program. Under the stock repurchase program, the Company currently intends to purchase up to $25 million of its common stock in the open market, through privately negotiated transactions, or pursuant to one or more 10b5-1 plans. The primary source of funding for the program is expected to be cash on hand. The timing and amount of stock repurchases, if any, will depend on price, market conditions, applicable regulatory requirements, and other factors. The program authorizes the Company to repurchase shares through November 30, 2023, does not require the Company to repurchase any specific number of shares, and may be modified, suspended or terminated at any time without prior notice. Shares repurchased under the program will be subsequently retired.

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On November 30, 2021, the Company issued a press release announcing the special dividend, the stock repurchase program and the appointment of two independent directors. A copy of the press release has been filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.



(d)  Exhibits


Exhibit Number Description of Exhibit

99.1 Press release, dated November 30, 2021

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)



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