UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 8, 2015
The Boston Beer Company, Inc.
(Exact name of registrant as specified in its charter)
Massachusetts | 001-14092 | 04-3284048 |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
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One Design Center Place, Suite 850, Boston, MA | 02210 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant's telephone number, including area code (617) 368-5000
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
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[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Item 8.01.
Other Events.
On May 8, 2015, the Board of Directors of The Boston Beer Company, Inc. (NYSE: SAM) authorized an increase in the aggregate expenditure limit for the Company’s stock repurchase program by $50.0 million. Shares of the Company’s Class A Common Stock will be repurchased pursuant to a Rule 10b5-1 purchase plan. A copy of the Company’s press release announcing the increase in the aggregate expenditure limit for the stock repurchase program and the Company’s intention to enter into a Rule 10b5-1 purchase plan is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 – Release of The Boston Beer Company, Inc. dated May 13, 2015.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| The Boston Beer Company, Inc. |
| (Registrant) |
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Date: May 13, 2015 | /s/ William F. Urich |
| William F. Urich |
| Chief Financial Officer |
| (Signature)* |
*Print name and title of the signing officer under his signature.
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EXHIBIT 99.1
Investor Relations Contact:
Media Contact:
Jennifer Larson
Jessica Paar
(617) 368-5152
(617) 368-5060
BOSTON BEER INCREASES EXPENDITURE LIMIT
FOR STOCK REPURCHASE PROGRAM
BOSTON, MA (5/13/15) – At a special meeting of the Board of Directors of The Boston Beer Company, Inc. (NYSE: SAM) held on May 8, 2015, the Board voted to increase the aggregate expenditure limit for the Company’s Stock Repurchase Program by $50.0 million, thereby increasing the limit from $350.0 million to $400.0 million. Shares of the Company’s Class A Common Stock will be repurchased pursuant to a Rule 10b5-1 purchase plan.
As of May 8, 2015, the Company had approximately $28.3 million remaining on the $350.0 million stock repurchase expenditure limit set by the Board of Directors.
About The Boston Beer Company, Inc.
The Boston Beer Company, Inc. (NYSE: SAM) began in 1984 and today brews more than 60 styles of Samuel Adams beer. Our portfolio of brands also includes Angry Orchard Hard Cider and Twisted Tea, as well as several other craft beer brands brewed by Alchemy & Science, our craft beer incubator. For more information, please visit our investor relations website at www.bostonbeer.com, which includes links to all of our respective brand websites.