secwatch.observer — SEC 8-K summary
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Issuer:     EVERTEC, Inc. (EVTC)
CIK:        0001559865
Form:       8-K
Filed at:   2024-03-06T23:59:59+00:00
Accession:  0001559865-24-000010
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EVERTEC boosts share buyback authorization to $220M, launches $70M ASR
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- Board increased share repurchase authorization to $220M, expiring Dec 31, 2025; prior remaining was ~$137M.
- Entered into $70M accelerated share repurchase (ASR) with Bank of America, expected settlement by Q3 2024.
- Initial delivery of ~1.5M shares on March 8, 2024; final share count based on VWAP during ASR term.
- After $70M ASR, $150M remains available under the repurchase program.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1559865/000155986524000010/0001559865-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1559865/000155986524000010/evtc-20240304.htm
  HTML page:      https://secwatch.observer/filing/0001559865-24-000010

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