Company Update

8-K 1 march038k.htm STOCK REPURCHASE 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 ___________________ February 17, 2003 ( Date of Report (date of earliest event reported)) TAYLOR DEVICES, INC. (Exact name of registrant as specified in charter ) New York 0-3498 16-0797789 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 90 Taylor Drive, North Tonawanda, New York 14120-0748 (Address of principal executive offices) (Zip Code) 716-694-0800 ( Registrant's telephone number, including area code) Item 5. Other Events. On April 1, 2003, the Board of Directors announced that the Registrant will continue its 1998 plan to purchase shares of its outstanding common stock, $.025 par value ("Shares"), through open market purchases, at the direction of Registrant's President and Chief Executive Officer, Douglas P. Taylor. The total dollar amount to be used after April 1, 2003 for repurchase of the Shares shall not exceed $196,347. The table below shows funds expended and shares purchased since December 1998: YEAR FUNDS EXPENDED SHARES 1/1/99 to 12/31/99 $148,193 56,054 1/1/00 to 12/31/00 $120,397 40,889 1/1/01 to 12/31/01* $147,645 33,353 1/1/02 to 3/31/03 $ 47,418 19,900 TOTAL $463,653 150,196 *Includes purchases permitted by Release Nos. 34-44791 and 34-44827. Purchases may be made from time to time, commencing April 1, 2003 through April 1, 2004, at the then current market price of the Shares. Exhibits filed as part of this Report: Exhibit Number Page in sequential numbering system where Exhibit is found (99) Press release dated April 1, 2003 3 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. TAYLOR DEVICES, INC. (registrant) DATED: April 1, 2003 By:__ /s/ Douglas P. Taylor Douglas P. Taylor, President and Chief Executive Officer Exhibit 99 PRESS RELEASE DATED April 1, 2003 Contact: Regan & Associates (212) 587-3005 FOR IMMEDIATE RELEASE TAYLOR DEVICES, INC. TO CONTINUE REPURCHASE PLAN North Tonawanda, NY, April 1, 2003. Taylor Devices, Inc. (NASDAQ: TAYD) announced today that its Board of Directors voted unanimously to continue Registrant's 1998 plan to purchase shares of its outstanding common stock, $.025 par value ("Shares"), through open market purchases, at the direction of Registrant's President and Chief Executive Officer, Douglas P. Taylor. The total dollar amount to be used for repurchase of the Shares after April 1, 2003 shall not exceed $196,347. Purchases may be made from time to time, commencing April 1, 2003 through April 1, 2004, at the then current market price of the Shares. Taylor Devices, Inc. employs over 100 people in Western New York, and designs, develops, manufactures, and markets tension control, energy storage and shock absorption devices for use in various types of machinery, equipment and structures, including devices for seismic protection and isolation of wind-induced vibration.