Item 8.01. Other Events.
On September 3, 2021, the Board of Directors of Frontdoor, Inc. (the "Company")
authorized the repurchase of up to $400 million of our common stock over the
three-year period from September 3, 2021 through September 3, 2024 (the
"Repurchase Program"). Stock repurchases may be effected through open market
repurchases at prevailing market prices, including through the use of trading
plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of
1934, privately-negotiated transactions, block purchases, or a combination of
these methods on such terms and in such amounts as management deems appropriate.
We are not obligated to repurchase any specific number of shares, and the
timing, manner, value and actual number of shares repurchased will depend on a
variety of factors, including our stock price, general market and economic
conditions, our liquidity requirements and other business considerations. The
Company may discontinue purchases without notice at any time.
On September 7, 2021, the Company issued a press release announcing the adoption
of the Repurchase Program. A copy of the press release is attached as Exhibit
99.1 and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description of Exhibit
99.1 Press Release of Frontdoor, Inc., dated September 7, 2021
104 The cover page from this Current Report on Form 8-K, formatted in
Inline XBRL
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