secwatch.observer — SEC 8-K summary
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Issuer:     CORPAY, INC. (CPAY)
CIK:        0001175454
Form:       8-K
Filed at:   2023-08-15T23:59:59+00:00
Accession:  0001628280-23-029483
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FLEETCOR sells Russia business, launches $450M accelerated share repurchase
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- Sale of all Russia operations to a local investment group; financial terms not disclosed.
- Entered $450M ASR with Bank of America to repurchase common stock under existing authorization.
- Approximately 80% of ASR shares to be received on August 21, 2023.
- Final repurchase amount based on discount to VWAP during ASR period; completion by end of Q3 2023.
- CEO Ron Clarke stated the company is now completely out of the Russian market.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175454/000162828023029483/0001628280-23-029483-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175454/000162828023029483/flt-20230815.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-029483

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