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) February 8, 2007
CBIZ, INC.
(Exact Name of Registrant as Specified in Its Charter)
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Delaware
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22-2769024 |
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(State or Other Jurisdiction of
Incorporation or Organization)
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(I.R.S. Employer Identification No.) |
(Commission File Number)
6050 Oak Tree Boulevard South, Suite 500
Cleveland, Ohio 44131
(Address of Principal Executive Offices)
(Zip Code)
Registrants Telephone Number, Including Area Code 216-447-9000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligations of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o 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 February 8, 2007, the Board of Directors of CBIZ, Inc. authorized the purchase of up to
5,000,000 shares of its outstanding common stock to be obtained in open market or privately
negotiated purchases through March 31, 2008.
As of
January 31, 2007, CBIZ had approximately 66.6 million shares of its common stock outstanding.
CBIZs Board of Directors believes that the repurchase plan is a prudent use of the Companys
financial resources, and that investing in its own shares is an attractive use of capital and an
efficient means to provide value to CBIZ stockholders. CBIZ anticipates that it will obtain all of
the funds necessary to purchase shares under the repurchase program, and to pay related fees and
expenses, from operating cash flow and by borrowing under its credit facility. This authorization
allows such purchases to the extent permitted under the Companys current or any future credit
facility, without further amendment.
Item 9.01(d). Exhibits
99.1
Press Release issued by the Registrant on February 13, 2007.
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.
Date:
February 13, 2007
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CBIZ, INC. |
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/s/ MICHAEL W. GLEESPEN |
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Michael W. Gleespen
Corporate Secretary |