trmb-20210819
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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 19, 2021
Trimble Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-14845 94-2802192
(State or other jurisdiction
of incorporation)
 (Commission
File Number)
 (IRS Employer
I.D. No.)
935 Stewart Drive, Sunnyvale, California94085
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (408) 481-8000
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 classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par value per shareTRMBNASDAQ Global Select Market
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
Stock Repurchase Program
On August 19, 2021, Trimble announced that its board of directors approved the repurchase of up to $750 million of its common stock. The stock repurchase authorization does not have an expiration date and replaces the prior authorization of $600 million, of which $50.7 million was remaining and has been cancelled.
Under the stock repurchase program, Trimble may repurchase shares from time to time in open market transactions, privately-negotiated transactions, accelerated share repurchase programs, tender offers, or by other means. The timing and actual number of any shares repurchased will depend on a variety of factors, including market conditions, Trimble’s share price, other available uses of capital, applicable legal requirements, and other factors. The program may be suspended, modified or discontinued at any time without prior notice.
Year to date, Trimble repurchased approximately 0.6 million shares of its common stock in open market purchases at an average price of $71.24 per share for a total of approximately $40 million, which was under the prior authorization.
The press release announcing the stock repurchase program is attached as Exhibit 99.1 and incorporated by reference.
Exhibit No.
Description
99.1
104The cover page from this Report on Form 8-K, formatted in Inline XBRL



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.
 TRIMBLE INC.
 a Delaware corporation
  
   
Date: August 19, 2021By:/s/ James A. Kirkland
  James A. Kirkland
 Senior Vice President and General Counsel


Document

Exhibit 99.1
Trimble Announces New Share Repurchase Program
SUNNYVALE, Calif., Aug. 19, 2021—Trimble (NASDAQ: TRMB) announced today that its Board of Directors has approved a new share repurchase program authorizing up to $750 million in repurchases of the Company's common stock. The share repurchase authorization does not have an expiration date and replaces the prior 2017 authorization of $600 million, of which $50.7 million was remaining and has been cancelled.
The new repurchase program goes into effect immediately, and shares may be repurchased from time to time, subject to business and market conditions and other investment opportunities, through open market transactions, privately-negotiated transactions, accelerated stock repurchase plans, or by other means. The program may be suspended, modified or discontinued at any time at the Company’s discretion without notice.
Year to date, Trimble repurchased approximately 0.6 million shares of its common stock in open market purchases at an average price of $71.24 per share for a total of approximately $40 million, which was under the prior authorization.
About Trimble
Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation. For more information about Trimble (NASDAQ:TRMB), visit: www.trimble.com.
Safe Harbor
Certain statements made in this news release regarding Trimble's plans to repurchase up to $750 million of its common shares, the anticipated timing of such repurchases, the manner in which Trimble may effect such repurchase, and other statements that are not historical in nature constitute forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, and actual events and results may differ materially from those described in this news release. Factors that could cause or contribute to such differences include, but are not limited to, Trimble's available resources and cash flows from operating activities to repurchase the shares, changing market prices for Trimble common stock, economic trends in the markets served by Trimble, and alternative uses of capital. More information about potential factors which could affect Trimble's business, financial results, and plans for share repurchases is set forth in reports filed with the SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10K. All forward looking statements are based on information available to Trimble as of the date hereof, and Trimble assumes no obligation to update such statements.