UNITED STATES
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
Date of Report (Date of earliest event reported) May 2, 2007
HUBBELL INCORPORATED
(Exact name of registrant as specified in its charter)
CONNECTICUT 1-2958 06-0397030
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
584 Derby Milford Road, Orange, Connecticut 06477-4024
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 799-4100
N/A
(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 (see General Instruction A.2. below):
[ ] 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))
ITEM 8.01 OTHER EVENTS
On May 1, 2007, in connection with its previously announced stock repurchase
program, Hubbell Incorporated ("Hubbell") established a prearranged repurchase
plan (the "10b5-1 Plan") to repurchase Class B common stock, intended to comply
with the requirements of Rule 10b5-1 and Rule 10b-18 under the Securities
Exchange Act of 1934, as amended.
In February 2006, Hubbell announced that its Board of Directors had authorized
the purchase of up to $100 million of Hubbell's Class A and Class B common stock
over a three year period, under which it has purchased 369,058 Class A shares
and 1,361,065 Class B shares, at a cost of approximately $81.7 million, as of
April 30, 2007. In its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2006, Hubbell announced prearranged repurchase plans to purchase
up to 750,000 shares of Hubbell's Class A common stock and up to 750,000 shares
of Class B common stock during the period August 4, 2006 through August 3, 2007.
Hubbell has purchased all 750,000 shares of Class B common stock authorized, and
will continue to purchase Class A shares, under the prior plan relating to the
Class A common stock, under which it has purchased 261,982 shares of Class A
common stock, as of April 30, 2007. In February 2007, the Board authorized a new
repurchase program of up to an additional $200 million of Class A and Class B
common stock over a two year period.
The 10b5-1 Plan will facilitate the ongoing repurchase of Hubbell Class B common
stock under the repurchase program by permitting Hubbell to repurchase its
shares during times when it otherwise might be prevented from doing so under
insider trading laws or because of self-imposed trading blackout periods.
Pursuant to the 10b5-1 Plan, a broker selected by Hubbell will have the
authority to repurchase, without further direction from Hubbell, up to 1,500,000
shares of Hubbell's Class B common stock during the period commencing on May 1,
2007 and expiring on November 1, 2007, subject to conditions specified in the
10b5-1 Plan and unless earlier terminated. There is no guarantee as to the
number of shares that will be repurchased under the plan, and Hubbell may
terminate the plan at any time. Depending upon market conditions, Hubbell also
expects to continue to conduct discretionary repurchases in privately negotiated
transactions during its normal trading windows.
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.
HUBBELL INCORPORATED
(Registrant)
Date: May 2, 2007
/s/ Richard W. Davies
----------------------------------------
(Signature)
Name: Richard W. Davies
Title: Vice President, General Counsel
and Secretary