secwatch.observer — SEC 8-K summary
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Issuer:     ALIGN TECHNOLOGY INC (ALGN)
CIK:        0001097149
Form:       8-K
Filed at:   2023-02-06T23:59:59+00:00
Accession:  0001097149-23-000009
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Align Technology enters $250M accelerated stock repurchase; CEO & CFO to buy shares
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- Entered $250M ASR with Citibank under existing $1B repurchase program from May 2021.
- Initial delivery of ~580k shares; final number based on VWAP less discount; settlement by April 26, 2023.
- CEO Joe Hogan to purchase $1M, CFO John Morici $0.2M of ALGN common stock personally.
- As of Dec 31, 2022, ALGN had ~77.3M shares outstanding and $1B in cash and marketable securities.
- Funding from cash on hand; Citi will use designated brokers including CastleOak, Drexel Hamilton, Siebert Williams.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1097149/000109714923000009/0001097149-23-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1097149/000109714923000009/algn-20230203.htm
  HTML page:      https://secwatch.observer/filing/0001097149-23-000009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer