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)
January 21, 2016
Merchants Bancshares, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 0-11595 | 03-0287342 | ||
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification Number)
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275 Kennedy Drive South Burlington, Vermont |
(802) 658-3400 | 05403 | ||
| (Address of principal executive offices) |
(Registrant’s telephone number, including
area
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(Zip Code)
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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)) |
| Item 8.01. | Other Events |
On January 21, 2016, the Board of Directors of Merchants Bancshares, Inc. (“Merchants”) voted to extend until January 26, 2017, its stock buyback program, originally adopted in January 2007. Under the program Merchants may repurchase 200,000 shares of its common stock on the open market from time to time, and has purchased 143,475 shares to date. Although Merchants did not repurchase any of its shares during 2015 and does not expect to repurchase shares in the near future, Merchants would like to continue to preserve its capital management flexibility with an active buyback program.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunder duly authorized.
| By: |
/s/ Eric A. Segal |
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| Name: | Eric A. Segal | |||
| Title: |
Interim Principal Financial Officer, Principal Accounting Officer and Treasurer
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Date: January 21, 2016