Current Report Filing (8-k)
01 April 2023 - 2:22AM
Edgar (US Regulatory)
0001501078
false
SC
0001501078
2023-03-30
2023-03-30
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): March 30, 2023
OCONEE FEDERAL FINANCIAL CORP.
(Exact name of Registrant as specified in its charter)
Federal
(State or Other Jurisdiction
of Incorporation) |
001-35033
(Commission
File Number) |
32-0330122
(I.R.S. Employer
Identification No.) |
201 East North Second Street, Seneca, South Carolina 29678
(Address of principal executive offices)
(864) 882-2765
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 |
Common Stock, par value $0.01 per share |
|
OFED |
|
The NASDAQ Stock Market, LLC |
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).
Emerging
growth company ☐
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. ☐
On March 30, 2023, Oconee
Federal Financial Corp. (the “Company”) authorized a stock repurchase program pursuant to which the Company intends to purchase
up to 50,000 of its issued and outstanding shares of common stock, which represents approximately 0.89% of the Company’s issued
and outstanding shares. The timing of the purchases will depend on certain factors, including but not limited to, market conditions and
prices, available funds and alternative uses of capital. The stock repurchase program may be carried out through open-market purchases,
block trades, negotiated private transactions and pursuant to a trading plan that will be adopted in accordance with Rule 10b5-1 under
the Securities Exchange Act of 1934. Any repurchased shares will be held by the Company as treasury shares.
The Company’s previous
stock repurchase program expired on June 30, 2022, which had authorized the Company to purchase up to 100,000 shares of its issued and
outstanding common stock. The Company had previously purchased a total of 43,648 shares of its common stock at a weighted average price
of $23.98 per share under that existing stock repurchase program.
| Item 9.01 | Financial Statements and Exhibits |
None.
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.
|
|
OCONEE FEDERAL FINANCIAL CORP.
|
Date: March 30, 2023 |
By: |
/s/ John Hobbs |
|
|
John Hobbs |
|
|
Chief Financial Officer |
|
|
(Duly Authorized Representative) |
Oconee Federal Financial (NASDAQ:OFED)
Historical Stock Chart
From May 2024 to Jun 2024
Oconee Federal Financial (NASDAQ:OFED)
Historical Stock Chart
From Jun 2023 to Jun 2024