That is $15 dollars the CEO and affiliates of director and of Dennis Washington have agreed to purchase. That would amount to about another million shares + a little spare change.
Someone else can do the exact math, but roughly $90 million raised and they pay down $85 million of hybrid debt. A non event, as I suspect the CEO and their other corporate buddies are not intending to take a hit on the present dividend rates for the common stock.
All in all a non-event, excepting making the balance sheet a little stronger, IMO.
Wondering the same myself. Watching level II off and on all day and it looked like they controlled the bid and ask a penny apart all day and bought up every share that hit the fractions in between them, especially in the afternoon.
CEO and CFO have gone on Cramer's show after the quarter was reported for the last three or four quarters. Seems like it is usually the day after, but I can not remember for sure.
Let's see how it goes, but most of the big blocks to sell have moved up over $1.20 per share. Of course that can change with one click to set off another computer driven cover or accumulate program by a hedgie.
Feel sure it can be found via a replay.
Pretty much told the story including the lawsuit and praised long term outlook, with some possible pain in the short term, but pointed out the EPS was so low they would still be fine long term. Mentioned H and R Block deal should be kicking in nicely for future profits.
Got a nice mention on CNBC this morning, pointing out how much cash they had and that the company would benefit from highway bill and more infrastructure spending in the future.