Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Share repurchase activity during the three months ended March 26, 2022 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts):
Periods Total Number
of Shares Purchased Average Price
Paid Per Share Total Number of Shares
Purchased as Part of Publicly
Announced Plans or Programs Approximate Dollar Value of
Shares That May Yet Be Purchased
Under the Plans or Programs (1)
December 26, 2021 to January 29, 2022:
November 2021 ASRs 4,887 (2)
4,887
Open market and privately negotiated purchases
43,330 $ 170.99 43,330
January 30, 2022 to February 26, 2022:
Open market and privately negotiated purchases
42,895 $ 169.71 42,895
February 27, 2022 to March 26, 2022:
Open market and privately negotiated purchases
50,822 $ 161.75 50,822
Total 141,934 $ 17,579
(1) On April 28, 2021, the Board of Directors authorized the purchase of an additional $90 billion of the Company’s common stock under the Program. As of March 26, 2022, total utilization under the April 2021 authorization was $72.4 billion. On April 28, 2022, the Company announced the Board of Directors increased the Program authorization by $90 billion. The Program does not obligate the Company to acquire a minimum amount of shares. Under the Program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.
(2) In November 2021, the Company entered into accelerated share repurchase agreements (“ASRs”) to purchase up to a total of $6.0 billion of the Company’s common stock. In January 2022, the purchase periods for these ASRs ended and an additional 5 million shares were delivered and retired. In total, 35 million shares were delivered under these ASRs at an average repurchase price of $170.01 per share.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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