UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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 8.01 Other Events
During 2021, through November 19, 2021, the Company executed approximately $221.3 million of repurchases, repurchasing approximately 2.5 million shares of its Class A common stock with an average price of $89.40. As of November 19, 2021, the Company had $128.6 million of capacity remaining under its previously announced existing stock repurchase program.
On November 19, 2021, the Company’s Board of Directors approved a new stock repurchase program that authorizes the Company to repurchase up to an aggregate of $2.0 billion of its shares of Class A common stock over five years. The Company will also continue to have access to the remaining capacity under its existing stock repurchase program. The new 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 new stock repurchase program may be extended, suspended or discontinued at any time without notice.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
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, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: November 22, 2021 | CBRE GROUP, INC. | |||||
| By: | /s/ MADELEINE BARBER | |||||
| Madeleine Barber | ||||||
| Deputy Chief Financial Officer and Chief Accounting Officer | ||||||