0001056288false00010562882022-06-072022-06-07
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): June 7, 2022
FEDERATED HERMES, INC.
(Exact name of registrant as specified in its charter)
| | | | | | | | | | | | | | |
| Pennsylvania | | 001-14818 | | 25-1111467 |
| (State or other jurisdiction | | (Commission File Number) | | (I.R.S. Employer |
| of incorporation) | | | | Identification No.) |
1001 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3779
(Address of principal executive offices, including zip code)
(412) 288-1900
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class B common stock, no par value | FHI | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01 OTHER EVENTS
On December 15, 2021, the board of directors of Federated Hermes, Inc. (Federated Hermes) authorized a share repurchase program with no stated expiration date that allowed the buyback of up to seven million five hundred thousand (7,500,000) shares of Class B common stock. From December 15, 2021 through June 7, 2022, the Federated Hermes purchased seven million two hundred and eight thousand (7,208,000) shares in the open market, such that as of June 7, 2022, two hundred ninety two thousand (292,000) shares remain to be purchased under this program. On June 7, 2022, the board of directors of Federated Hermes authorized an additional share repurchase program with no stated expiration date that allows the buyback of up to five million (5,000,000) shares of Class B Common Stock. Like the existing program, this program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless Federated Hermes’ board of directors subsequently determines to retire the repurchased stock and restore the shares to authorized but unissued status (rather than holding the shares in treasury).
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits:
| | | | | | | | | | | |
| Exhibit 104 | | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
| | | | | | | | | | | | | | |
| | | FEDERATED HERMES, INC. | |
| | | (REGISTRANT) | |
| | | | |
| | | | |
| Date | June 7, 2022 | By: | /s/ Thomas R. Donahue | |
| | | Thomas R. Donahue | |
| | | Chief Financial Officer | |