Company Update

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 13, 2021   CTS CORPORATION (Exact Name of Registrant as Specified in its Charter)   IN 1-4639 35-0225010 (State or other jurisdiction  of incorporation) (Commission File Number) (1.R.S. Employer Identification No) 4925 Indiana Avenue     Lisle IL   60532 (Address of principal executive offices)   (Zip Code)   Registrant's Telephone Number, Including Area Code:( 630 ) 577-8800   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 240.14a12)   ☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240. l 4d2(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   Trading Symbol(s)   Name of Each Exchange on Which Registered Common Stock, no par value   CTS   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) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this 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.   ☐         Item 8.01     Other Events. On May 13, 2021, the Board of Directors (the “Board”) of CTS Corporation (the “Company”) approved a new share repurchase program that authorizes the Company to repurchase up to $50 million of its common stock. The repurchase program has no set expiration date and supersedes and replaces the repurchase program approved by the Board in February 2019. Repurchases may be made from time to time in the open market, by round lot or block purchases, in privately negotiated transactions, or pursuant to any trading plan that may be adopted in accordance with Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and applicable federal securities laws. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the Company's shares, general market and economic conditions, and other factors. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be terminated, modified or suspended at any time at the Company’s discretion. In the same meeting, the Board approved a cash dividend of $0.04 per share, to be paid on July 23, 2021 to shareholders of record as of the close of business on June 18, 2021. A press release announcing these two actions by the Board is included as an exhibit to this Current Report on Form 8-K. Item 9.01. Financial Statements and Exhibits. (d) Exhibits   Exhibit   Description 99.1   Press Release dated May 13, 2021 104   Cover Page Interactive Data File (embedded within the Inline XBRL Document)         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.   Date: May 13, 2021   CTS CORPORATION         By: /s/ Thomas M. White     Thomas M. White     Corporate Controller