Form: 8-K

Current report filing

December 7, 2021

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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): December 7, 2021

 

CLEAN ENERGY FUELS CORP.

(Exact Name of Registrant as Specified in Charter)

 

Delaware   001-33480   33-0968580

(State or other jurisdiction

of incorporation) 

 

(Commission

File Number) 

 

(IRS Employer

Identification No.) 

 

4675 MacArthur Court, Suite 800

Newport Beach, CA 

  92660
(Address of Principal Executive Offices)   Zip Code

 

(949) 437-1000

(Registrant’s telephone number, including area code)

 

 

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 (see General Instruction A.2. below):

 

¨ 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 class Trading symbol(s) Name of each exchange on which registered
Common stock, $0.0001 par value per share CLNE The Nasdaq Stock Market LLC

 

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.

 

As previously disclosed, on March 12, 2020, the Board of Directors of Clean Energy Fuels Corp. (the “Company”) approved a share repurchase program (the “Repurchase Program”) of up to $30.0 million (exclusive of fees and commissions) of the Company’s common stock, $0.0001 par value per share (“Common Stock”). The Repurchase Program does not have an expiration date, and it may be suspended or discontinued at any time. The Company did not purchase any shares of Common Stock during the nine months ended September 30, 2021, and as of September 30, 2021, the Company had utilized $14.5 million to repurchase 7,744,386 shares of Common Stock under the Repurchase Program.

 

On December 7, 2021, the Company’s Board of Directors determined to resume repurchases of shares of the Company’s Common Stock pursuant to the Repurchase Program and approved an increase in the aggregate purchase amount under the Repurchase Program from $30.0 million to $50.0 million (exclusive of fees and commissions). The Repurchase Program does not obligate the Company to acquire any specific number of shares. Repurchases under the Repurchase Program may be effected from time to time through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated share repurchase transactions, or other methods of acquiring shares, in each case subject to market conditions, applicable securities laws and other relevant factors.

 

Goldman Sachs & Co. has the authority to repurchase the Company’s Common Stock in the open market pursuant to a prearranged stock repurchase plan under Rule 10b5-1.

 

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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: December 7, 2021 CLEAN ENERGY FUELS CORP.
     
  By: /s/ Andrew J. Littlefair
    Name: Andrew J. Littlefair
    Title: President and Chief Executive Officer

 

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