<SEC-DOCUMENT>0000031107-15-000040.txt : 20150807
<SEC-HEADER>0000031107-15-000040.hdr.sgml : 20150807
<ACCEPTANCE-DATETIME>20150807124838
ACCESSION NUMBER:		0000031107-15-000040
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150807
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150807
DATE AS OF CHANGE:		20150807

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EASTERN CO
		CENTRAL INDEX KEY:			0000031107
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060330020
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			0102

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35383
		FILM NUMBER:		151036232

	BUSINESS ADDRESS:	
		STREET 1:		112 BRIDGE ST
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
		BUSINESS PHONE:		2037292255

	MAIL ADDRESS:	
		STREET 1:		112 BRIDGE STREET
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
</SEC-HEADER>
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<DESCRIPTION>RIGHT AGREEMENT - TERM
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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM 1.02 &#8211; Termination of a Material Definitive Agreement</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August 7, 2015, the Board of Directors of The Eastern Company (the "Company"), voted to terminate the Rights Agreement between the Company and American Stock Transfer &amp; Trust Company, LLC (the &#8220;2008 Shareholders&#8217; Rights Agreement&#8221;).&#160;&#160;A copy of the 2008 Shareholders&#8217; Rights Agreement was filed on a Current Report on Form 8-K dated July 23, 2008 and is incorporated herein by reference.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August 7, 2015 the Board of Directors of the Company voted to terminate the 2008 Shareholders&#8217; Rights Agreement between the Company and American Stock Transfer &amp; Trust Company, LLC, the rights agent.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the 2008 Shareholders&#8217; Rights Agreement, the Company declared a dividend distribution of one right for each share of the Company's common stock, no par value, (the "Common Stock"), payable on July 23, 2008 to shareholders of record on July 3, 2008 (the "Record Date").&#160;&#160;The 2008 Shareholders&#8217; Rights Agreement also authorized the issuance of one right for each share of Common Stock that becomes outstanding between the Record Date and the Distribution Date (as defined in the 2008 Shareholders&#8217; Rights Agreement), and under certain circumstances thereafter.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to Section 23 of the 2008 Shareholders&#8217; Rights Agreement, the Company will redeem all of the outstanding rights at a redemption price of $0.01 per right, which will be payable on September 15, 2015, to common shareholders of record as of August 19, 2015.&#160;&#160;Effective upon the action of the Board of Directors of the Company ordering the redemption of the rights, the right to exercise the rights terminated, and the only right thereafter of the shareholders of the Company is to receive the redemption price.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August 7, 2015, the Company issued a press release concerning the vote by the Board of Directors to terminate the 2008 Shareholders&#8217; Rights Agreement.&#160;&#160;A copy of the press release dated August 7, 2015 is attached hereto.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Naugatuck, CT</font>&#8211;The Eastern Company (NASDAQ:EML) today announced the termination of its 2008 Shareholder Rights Agreement (the &#8220;Rights Agreement&#8221;). Pursuant to Section 23 of the Rights Agreement, the Company will redeem all, and not less than all, of the outstanding rights at a redemption price of $0.01 per right.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The redemption fee of $0.01 per right will be payable on September 15, 2015, to common shareholders of record as of August 19, 2015.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr. Leonard F. Leganza, Chairman, President and CEO, stated, &#8220;The Company&#8217;s Board of Directors, after extensive discussions, has determined that the termination of the Rights Plan is in the best long-term interest of all of our current shareholders. It is also a positive step forward toward modifying our governance policies looking into the future.&#8221;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">About the Company</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Eastern Company is a 157-year-old manufacturer of industrial hardware, security products and metal castings.&#160;&#160;It operates from 13 locations in the U.S., Canada, Mexico, Taiwan and China.&#160;&#160;The diversity of the Company&#8217;s products helps it to respond to the changing requirements of a broad array of markets. More information on the Company can be found at <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">www.easterncompany.com</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Safe Harbor for Forward-Looking Statements</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Statements in this document about the Company&#8217;s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words &#8220;believes,&#8221; &#8220;plans,&#8221; &#8220;anticipates,&#8221; &#8220;expects,&#8221; &#8220;estimates&#8221; and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including those set forth in the Company&#8217;s reports and filings with the U.S. Securities and Exchange Commission. The Company is not obligated to update or revise any forward-looking statements as a result of developments occurring after the date of this document.</font></div>

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