|EX-99.1 - EX-99.1 - WEX Inc.||exhibit1.htm|
SECURITIES AND EXCHANGE COMMISSION
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):||February 9, 2011|
Wright Express Corporation
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
|of incorporation)||File Number)||Identification No.)|
|97 Darling Avenue, South Portland, Maine||04106|
(Address of principal executive offices)
|Registrants telephone number, including area code:||(207) 773-8171|
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))
Item 1.01 Entry into a Material Definitive Agreement.
On February 9, 2011, 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 11,327,409 gallons of gasoline and diesel fuel and will expire on a monthly basis during the last three quarters 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 $3.33 per gallon and a weighted average retail ceiling price of approximately $3.39 per gallon.
On February 15, 2011, the Company issued a press release announcing this transaction.
Item 8.01 Other Events.
On February 15, 2011, the Company issued a press release entitled "Wright Express Extends Its 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.
99.1 Press release of Wright Express Corporation dated February 15, 2011
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|
|February 15, 2011||By:||
/s/ Melissa D. Smith
|Name: Melissa D. Smith|
|Title: CFO and Executive Vice President, Finance and Operations (principal financial officer)|
|Press release of Wright Express Corporation dated February 15, 2011|