This Current Report on Form 8-K is filed by CBRE Group, Inc., a Delaware corporation (the “Company”), in connection with the matters described herein.
Item 5.03 | Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On November 21, 2024 and effective as of such date, the Board of Directors of the Company (the “Board”) amended and restated the Company’s Amended and Restated Bylaws. Article II, Section 1 has been amended to permit the Board to nominate for election to the Board more than one member of the Company’s management.
Item 7.01 | Regulation FD Disclosure. |
On November 21, 2024, the Company issued a press release announcing an increase to the Company’s stock repurchase authorization. A copy of that press release is attached as Exhibit 99.1 hereto and is incorporated by reference herein. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
Item 8.01 | Other Information. |
On November 21, 2024, the Board approved an incremental $5.0 billion increase to the Company’s stock repurchase authorization. Such stock repurchase authorization is effective immediately and is in addition to the existing $4.0 billion authorization which has approximately $1.4 billion remaining as of September 30, 2024. The Company’s stock repurchase program is expected to be executed through open market transactions, privately negotiated transactions, or in such other manner as determined by the Company, including through plans complying with Rule 10b5-1 under the Exchange Act. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the Company’s common stock, general market and economic conditions and other factors. The stock repurchase program may be extended, suspended or discontinued at any time without notice.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
The following documents are attached as exhibits to this Current Report on Form 8-K: