Item 7.01 Regulation FD Disclosure
On January 14, 2021, Codorus Valley Bancorp, Inc. (the "Company") issued a press
release announcing that the Company's Board of Directors approved a new treasury
stock repurchase program. Under the newly approved stock repurchase program, the
Company is authorized to repurchase up to $5 million in aggregate value of the
Company's issued and outstanding shares at January 12, 2021. The Board of
Directors' authorization provides that: (1) the new treasury stock repurchase
program shall be effective when publicly announced and shall continue thereafter
until the earlier of the date an aggregate of $5 million of common stock has
been repurchased or January 31, 2022, or until suspended or terminated by the
Board of Directors, in its sole discretion; and (2) all shares of common stock
repurchased pursuant to the new program shall be held as treasury shares and be
available for use and reissuance for purposes as and when determined by the
Board of Directors including, without limitation, pursuant to the Company's
Dividend Reinvestment and Stock Purchase Plan and its equity compensation
program.
A copy of the Company's press release announcing approval of the treasury stock
repurchase program is attached hereto as Exhibit 99.1 and incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
No. Description
99.1 Press release dated January 14, 2021.
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