RUTH'S HOSPITALITY GROUP, INC. Item 8.01 Other Events.
On
In implementing share repurchases, the Company may purchase shares in the open
market or through a variety of methods as permitted by applicable securities
laws and other legal requirements, including through the use of a Rule 10b5-1
plan. There exists no obligation to repurchase any particular amount of shares
within any timeframe, and the manner, timing and amount of any purchase will be
determined subject to an evaluation of the price and availability of the
Company's shares, general market conditions, and other factors, including
limitations under the Company's credit agreement. The share repurchase program
has no termination date. The Company intends to conduct any open market share
repurchase activities in compliance with the safe harbor provisions of Rule
10b-18 of the Exchange Act. For more information with respect to limitations
under the Company's credit agreement, see Note 5 to the Company's condensed
consolidated financial statements in its Quarterly Report on Form 10-Q for the
quarter ended
Cautionary Statement Regarding Forward-Looking Statements
This filing contains "forward-looking statements" that reflect, when made, the
Company's expectations or beliefs concerning future events that involve risks
and uncertainties. Forward-looking statements frequently are identified by the
words "anticipate," "assume," "believe," "continue," "could," "estimate,"
"expect," "forecast," "future," "intend," "likely result," "may," "might,"
"plan," "potential," "predict," "project," "seek", "should," "target," "will
be," "will continue," "will likely result," "would" and other similar words and
phrases. Similarly, statements herein that describe the Company's objectives,
plans or goals, including with respect to restaurant openings/re-openings and
acquisitions or closures, capital expenditures, strategy, financial outlook,
cash flows, our effective tax rate, and the impact of recent accounting
pronouncements, also are forward-looking statements. Actual results could differ
materially from those projected, implied or anticipated by the Company's
forward-looking statements. Some of the factors that could cause actual results
to differ include: the negative impact the COVID-19 pandemic has had and will
continue to have on our business, financial condition, results of operations and
cash flows; reductions in the availability of, or increases in the cost of, USDA
Prime grade beef, fish and other food items; changes in economic conditions and
general trends; the loss of key management personnel; the effect of market
volatility on the Company's stock price; health concerns about beef or other
food products; the effect of competition in the restaurant industry; changes in
consumer preferences or discretionary spending; labor shortages or increases in
labor costs; the impact of federal, state or local government regulations
relating to income taxes, unclaimed property, Company employees, the sale or
preparation of food, the sale of alcoholic beverages and the opening of new
restaurants; political conditions, civil unrest or other developments and risks
in the markets where the Company's restaurants are located; harmful actions
taken by the Company's franchisees; the inability to successfully integrate
franchisee acquisitions into the Company's business operations; economic,
regulatory and other limitations on the Company's ability to pursue new
restaurant openings and other organic growth opportunities; a material failure,
interruption or security breach of the Company's information technology network;
the Company's indemnification obligations in connection with its sale of the
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