ITEM 8.01. OTHER EVENTS.
On August 2, 2019, the Board of Directors of Carrols Restaurant Group, Inc, (the
"Company") approved a stock repurchase plan (the "Repurchase Program") under
which the Company may repurchase up to $25 million of its outstanding common
stock. The authorization became effective August 2, 2019, and expires 24 months
thereafter, unless terminated earlier by the Company's Board of Directors.
Purchases under the Repurchase Program may be made from time to time in open
market transactions at prevailing market prices or in privately negotiated
transactions (including, without limitation, the use of Rule 10b5-1 plans) in
compliance with applicable federal securities laws, including Rule 10b-18 under
the Securities Exchange Act of 1934, as amended.
During the second quarter of 2020, the Company suspended repurchases of its
common stock under the Repurchase Program due to the impact of the COVID-19
pandemic. The Company is announcing it will recommence purchasing shares of its
common stock from time to time under its Repurchase Program. The Company has no
obligation to repurchase additional shares of its common stock under the
Repurchase Program, and the timing, actual number and value of shares purchased
will depend on its stock price, trading volume, general market and economic
conditions and other factors. As of the date hereof, $21.0 million was available
to repurchase shares of the Company's common stock under the Repurchase Program.
ITEM 8.01. FINANCIAL STATEMENTS AND EXHIBITS.
104 Cover Page Interactive Data File (formatted as Inline XBRL)
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