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)
August 23, 2022

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WEX Inc.
(Exact name of registrant as specified in its charter)

Delaware
  
001-32426
  
01-0526993
(State or other jurisdiction of
incorporation)
  
(Commission File Number)
  
(IRS Employer Identification No.)
         

1 Hancock Street, Portland, Maine
04101
Address of principal executive offices
Zip Code

Registrant's telephone number, including area code
(207) 773-8171
 

 
(Former name or former address if changes 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, $0.01 par value
WEX
New York Stock Exchange

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.  ☐


Item 8.01  Other Events.

On August 23, 2022, WEX Inc. (the “Company”) issued a press release announcing that the Company’s Board of Directors (the “Board”)  has authorized a share repurchase program under which up to $150 million worth of the Company's common stock may be repurchased through August 23, 2026. Immediately prior to authorizing the new plan, the Board terminated the previously authorized stock repurchase plan, which the Company had substantially completed in August 2022 (the “Prior Program”). Under the Prior Program, in total, the Company repurchased 954,378 shares at an average price paid per share of $156.76, including 434,582 shares during July and August 2022 at an average price paid per share of $158.79. The press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01  Financial Statements and Exhibits.

Exhibit No.
Exhibit Description
   
   
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).


 
SIGNATURE
 
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.
 
   
WEX INC.
     
     
     
Date:
August 23, 2022
By:
/s/ Jagtar Narula
     
Jagtar Narula
     
Chief Financial Officer