secwatch.observer — SEC 8-K summary
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Issuer:     CPI Card Group Inc. (PMTS)
CIK:        0001641614
Form:       8-K
Filed at:   2023-12-07T23:59:59+00:00
Accession:  0001558370-23-019577
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Card Group enters stock repurchase agreement with major shareholder Parallel49 for up to 325K shares
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- CPI agrees to buy up to 325,000 shares from Parallel49 at 98% of open-market VWAP through March 31, 2024.
- Parallel49 will sell three times the number of shares CPI repurchases in the open market from other holders.
- The repurchase is part of CPI's existing $20M board-authorized share repurchase program.
- Parallel49 also gets an option to sell shares at the same terms if CPI does a privately negotiated repurchase.
- The independent audit committee approved the agreement; shares repurchased will be cancelled.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641614/000155837023019577/0001558370-23-019577-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641614/000155837023019577/pmts-20231206x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-019577

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