LEAR CORP false 0000842162 0000842162 2022-05-19 2022-05-19





Washington, D.C. 20549







Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 19, 2022




(Exact name of Registrant as specified in its charter)




Delaware   1-11311   13-3386776
(State or other jurisdiction
of incorporation)
File Number)
  (IRS Employer
Identification Number)

21557 Telegraph Road, Southfield, MI 48033

(Address of principal executive offices)

(248) 447-1500

(Registrant’s telephone number, including area code)


(Former name or former address, if changed since last report)



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:


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




Name of Each Exchange
on Which Registered

Common stock, par value $0.01   LEA   New York Stock Exchange

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) of Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of the 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 ☐




Section 8 – Other Events

Item 8.01 Other Events.

On May 19, 2022, Lear Corporation (the “Company”) announced that on May 19, 2022, its Board of Directors approved the declaration of a $0.77 per share quarterly cash dividend on the Company’s common stock and extended the Company’s share repurchase authorization until December 31, 2024.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.





Exhibit No.   


99.1    Press Release issued May 19, 2022.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).




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 thereunto duly authorized.

    Lear Corporation

Date: May 19, 2022


/s/ Jason M. Cardew

    Name:   Jason M. Cardew
    Title:   Senior Vice President and Chief Financial Officer




Exhibit 99.1



   Investor Contacts:
        Ed Lowenfeld
   (248) 447-4380
   Tim Brumbaugh
   (248) 447-1329

Lear Declares Quarterly Cash Dividend and

Extends Share Repurchase Authorization

SOUTHFIELD, Mich., May 19, 2022 — Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced that its Board of Directors has declared a quarterly cash dividend of $0.77 per share on the Company’s common stock. The dividend is payable on June 29, 2022 to shareholders of record at the close of business on June 10, 2022.

In addition, the Board of Directors has authorized a two-year extension of the Company’s share repurchase authorization to December 31, 2024. At the end of the first quarter of 2022, Lear had approximately $1.3 billion remaining under its share repurchase authorization. Since the Company began its share repurchase and dividend programs in 2011, Lear has returned approximately $5.9 billion to shareholders, including the repurchase of approximately 50% of the Company’s shares outstanding as of the commencement of its share repurchase program.

Lear may implement share repurchases through a variety of methods, including open market purchases, accelerated share repurchase programs and structured repurchase transactions. The timing and amount of any share repurchases will be determined based on prevailing financial, market and industry conditions.

About Lear Corporation

Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear’s diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 179 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation.

# # #