−Removed: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
+Added: Market for Registrant’s Common Equity, Related Sto ckholder Matters and Issuer Purchases of Equity Securities
Market and shareholder information
2 unchanged sentences
No dividends have been paid on our ordinary shares to date, and we do not expect to pay cash dividends thereon in the foreseeable future.
−Removed: We anticipate that we will retain all earnings, if any, to support our operations and our proprietary drug development programs.
+Added: We anticipate that we will generally retain earnings to support our operations and our proprietary drug development programs.
Any future determination as to the payment of dividends will be at the sole discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements and other factors that our board of directors deems relevant.
Repurchase of equity securities
−Removed: On September 16, 2011, our board of directors authorized the continuation of the Alkermes, Inc.
−Removed: program to repurchase up to $215.0 million of our ordinary shares at the discretion of management from time to time in the open market or through privately negotiated transactions.
−Removed: We did not purchase any shares under this program during the year ended December 31, 2022.
−Removed: As of December 31, 2022, we had purchased a total of 8,866,342 shares under this program at a cost of $114.0 million.
−Removed: The 2026 Term Loans include restrictive covenants that impose certain limitations on our ability to repurchase our ordinary shares.
+Added: On February 15, 2024, our board of directors authorized a share repurchase program to repurchase ordinary shares of the Company in an aggregate amount of up to $400.0 million (exclusive of any fees, commissions or other expenses related to such repurchases) from time to time on the open market (the “2024 Repurchase Program”).
+Added: The timing and amount of any share repurchases under the 2024 Repurchase Program will be based on a variety of factors, including but not limited to ongoing assessments of our capital needs, alternative investment opportunities, the market price of our ordinary shares and general market conditions.
+Added: The 2024 Repurchase Program has no set expiration date and may be suspended or discontinued at any time.
+Added: The 2024 Repurchase Program terminates, and supersedes in its entirety, our prior share repurchase program authorized by our board of directors in September 2011 (the “Prior Repurchase Program”) under which we have purchased a total of 8,866,342 ordinary shares at a cost of $114.0 million.
+Added: During the years ended December 31, 2023 and 2022, we did not purchase any ordinary shares under the Prior Repurchase Program.
During the three months ended December 31, 2023, we acquired 84,662 of our ordinary shares, at an average price of $28.27 per share, related to the vesting of employee equity awards to satisfy withholding tax obligations.
1 unchanged sentence
The following is a general summary of the main Irish tax considerations applicable to the purchase, ownership and disposition of our ordinary shares by U.S.
−Removed: It is based on existing Irish law and practices in effect on February 2, 2023, and on discussions and correspondence with the Irish Revenue Commissioners.
+Added: It is based on existing Irish law and practices in effect on January 8, 2024, and on discussions and correspondence with the Irish Revenue Commissioners.
Legislative, administrative or judicial changes may modify the tax consequences described below.
33 unchanged sentences
In order for the share registrar to be satisfied as to the application of this Irish stamp duty treatment where relevant, the shareholder must confirm to us that the shareholder would be the beneficial owner of the related book-entry interest in those ordinary shares recorded in the systems of DTC, and in exactly the same proportions or vice-versa, as a result of the transfer and there is no agreement for the sale of the related book-entry interest or the ordinary shares or an interest in the ordinary shares, as the case may be, by the shareholder to a third party being contemplated.
−Removed: Stock p erformance g raph
+Added: Stock performance graph
The information contained in the performance graph below shall not be deemed to be “soliciting material” or to be “filed” with the SEC, and such information shall not be incorporated by reference into any future filing under the Securities Act or the Exchange Act, except to the extent that we specifically incorporate it by reference into such filing.
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.