On January 29, 2021 Bed Bath & Beyond Inc. (the “Company”) entered into an amendment to the $150 million accelerated share repurchase agreement dated January 7, 2021 (the “ASR Agreement”) with JPMorgan Chase Bank, National Association (the “Bank”), such amended ASR Agreement (the “Amended ASR Agreement”). Pursuant to the terms of the Amended ASR Agreement, the Company and the Bank have agreed that the final settlement date will occur no later than April 2021, with the settlement date determined at the Bank’s option within an agreed range and that the exact number of shares repurchased under the Amended ASR Agreement will be calculated using a purchase price per share determined based on the daily volume-weighted average stock price over the term of the Amended ASR Agreement, subject to adjustments.
Creation of a Direct Financial Obligation or an Obligation under an
Sheet Arrangement of a Registrant.
The information in Item 1.01 is incorporated herein by reference.
Financial Statements and Exhibits.
Master Confirmation between JPMorgan Chase Bank, National Association and Bed Bath & Beyond Inc., dated October 28, 2020 (incorporated by reference to Exhibit 10.1 of the Current Report on Form
filed on October 28, 2020).
Cover Page Interactive Data File (embedded within the Inline XBRL document)
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 thereunto duly authorized.
BED BATH & BEYOND INC.
Date: February 1, 2021
/s/ Gustavo Arnal
Chief Financial Officer and Treasurer
(Principal Financial and Accounting Officer)
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