secwatch.observer — SEC 8-K summary
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Issuer:     ALIGN TECHNOLOGY INC (ALGN)
CIK:        0001097149
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001097149-23-000078
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Align Technology enters $250M accelerated share repurchase; CEO plans $1M personal stock purchase
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- $250M ASR with Citibank; initial delivery ~1M shares; final count based on VWAP less discount.
- ASR expected to complete by Jan 30, 2024, funded from cash on hand.
- CEO Joe Hogan intends to personally purchase $1M of Align common stock.
- ASR is part of $1B repurchase program authorized by Board in January 2023.
- Citi to hedge through designated brokers including CastleOak, Drexel Hamilton, Siebert Williams Shank.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1097149/000109714923000078/0001097149-23-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1097149/000109714923000078/algn-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001097149-23-000078

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