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EX-99.1 - EX-99.1 - WEX Inc.exhibit1.htm
 

 


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   October 12, 2010

Wright Express Corporation
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 001-32426 01-526993
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
97 Darling Avenue, South Portland, Maine   04106
_________________________________
(Address of principal executive offices)
  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (207) 773-8171

Not Applicable
______________________________________________
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))


Explanatory Note

This Form 8-K/A is being filed to amend Item 1.01 to correct a typographical error in the expiration date of the purchased put option contracts and sold call option contracts (the “Contracts) on the Form 8-K filed by Wright Express Corporation on October 18, 2010 (the “Form 8-K”). In the Form 8-K, the contracts were incorrectly identified as expiring through the first quarter of 2010. They are, in fact, expiring through the first quarter of 2012. Other than the correction to that date, the Form 8-K is unchanged. This Form 8-K/A is limited in scope to Item 1.01 and does not amend, update, or change any other items or disclosures contained in the Form 8-K. For convenience, we have included in this filing the entirety of the original filing, as amended, to correct the typographical error.

Item 1.01 Entry into a Material Definitive Agreement.

On October 12, 2010, Wright Express Corporation (the “Company”) purchased put option contracts and sold call option contracts, designed to be a costless collar, on the wholesale price of gasoline with Merrill Lynch Commodities, Inc. and the retail price of diesel fuel with Wells Fargo Bank, N.A. (collectively, the “Contracts”). The Contracts have an aggregate notional amount of approximately 11,431,557 million gallons of gasoline and diesel fuel and will expire on a monthly basis during the last two quarters of 2011 and first quarter of 2012. The settlement of the Contracts is based upon the New York Mercantile Exchange’s New York Harbor Reformulated Gasoline Blendstock for Oxygen Blending and the U.S. Department of Energy’s weekly retail on-highway diesel fuel price for the month. The Contracts lock in a weighted average retail floor price of approximately $2.91 per gallon and a weighted average retail ceiling price of approximately $2.97 per gallon.

On October 18, 2010, the Company issued a press release announcing this transaction.

Item 8.01 Other Events.

On October 18, 2010, the Company issued a press release entitled “Wright Express Extends Its Existing Fuel-Price Risk Management Program.” A copy of the press release is furnished as exhibit 99.1 and is incorporated by reference in its entirety.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. and Description
99.1 Press release of Wright Express Corporation dated October 18, 2010


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.

         
    Wright Express Corporation
          
October 18, 2010   By:   /s/ Melissa D. Smith
       
        Name: Melissa D. Smith
        Title: CFO and Executive Vice President, Finance and Operations (principal financial officer)


Exhibit Index


     
Exhibit No.   Description

 
99.1
  Press Release of Wright Express Corporation dated October 18, 2010