Company: KELYB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000055135-25-000016
Chunk: 41

Company: KELLY SERVICES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 4
Chunk 41
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 a repeated procedure to determine the amount of the imposed fine as well as the allocation between the parties.  Although Kelly's staffing operations in Hungary were sold to Gi Group Holdings S.P.A. (“Gi”) in January 2024, we have agreed to indemnify Gi for any liability resulting from this matter.  We do not believe that resolution of this matter will have a material adverse effect upon our competitive position, results of operations, cash flows or financial position.

Item 1A.  Risk Factors. 

There have been no material changes in our risk factors previously disclosed in Part I, Item 1A of our Annual Report filed on Form 10-K for the year ended December 29, 2024.

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Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds.

(a) Sales of Equity Securities Not Registered Under the Securities Exchange Act of 1933

None.

(c) Issuer Repurchases of Equity Securities

During the first quarter of 2025, we reacquired shares of our common stock as follows:PeriodTotal Numberof Shares(or Units)PurchasedAveragePrice Paidper Share(or Unit)Total Numberof Shares (orUnits) Purchasedas Part of PubliclyAnnounced Plansor ProgramsMaximum Number(or ApproximateDollar Value) ofShares (or Units)That May Yet BePurchased Under thePlans or Programs(in millions of dollars)December 30, 2024 through February 2, 20254,421 $14.19 — $40.0 February 3, 2025 through March 2, 2025109,511 14.00 — $40.0 March 3, 2025 through March 30, 202513,114 13.17 — $40.0 Total127,046 $13.92 —  

On November 26, 2024, our board of directors approved a share repurchase program for us to repurchase shares covering up to an aggregate of $50.0 million of our Class A common stock.  The share repurchase authorization expires on December 2, 2026.  We may also reacquire shares sold to cover employee tax withholdings due upon the vesting of restricted stock held by employees.  Accordingly, 127,046 shares were reacquired during the first quarter of 2025.

Item 3.  Defaults Upon Senior Securities.

Not applicable.