14 unchanged sentences
Recent Sales of Unregistered Securities
−Removed: In January 2021, we issued $500.0 million aggregate principal amount of 0% convertible senior notes due January 15, 2026, or the 2026 Notes, in a private offering pursuant to Rule 144A under the Securities Act.
+Added: In May 2024, we issued $500.0 million aggregate principal amount of 2.25% convertible senior notes due June 1, 2029, in a private offering pursuant to Rule 144A under the Securities Act.
The offer and sale of the 2029 Notes to the initial purchasers for the 2029 Notes was made in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act.
4 unchanged sentences
On February 15, 2023, our board of directors authorized a stock repurchase program, effective February 23, 2023, under which we are authorized to purchase up to an aggregate of $100.0 million of our outstanding common stock during the two-year period ending February 23, 2025.
−Removed: We utilize our stock repurchase program in an effort to return surplus cash to stockholders efficiently.
+Added: On May 24, 2024, our board of directors authorized the repurchase of our common stock in connection with the issuance of the 2029 Notes, the cancellation of the balance under the stock repurchase program ending February 23, 2025, and also authorized a stock repurchase program, effective May 31, 2024, under which we are authorized to purchase up to an aggregate of $100.0 million of our outstanding common stock during the two-year period ending May 31, 2026.
+Added: We utilize our stock repurchase program in an effort to return surplus cash to stockholders efficiently and to offset dilution related to the issuance of stock under our 2015 Equity Incentive Plan, or 2015 Plan, and our employee stock purchase plan.
Our board of directors determines repurchase program amounts through an analysis of projected capital needs to sustain growth as well as to meet other investing and financing criteria.
2 unchanged sentences
Stock repurchases may be made through a variety of methods, including open-market transactions (including pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act), privately negotiated transactions, block trades, tender offers and by any combination of the foregoing.
−Removed: Our Insider Trading and Trading Window Policy prohibits our directors, officers and other employees from trading in Alarm.com securities while they are aware of material nonpublic information about Alarm.com, which would include unannounced material stock repurchase plans.
−Removed: The prohibition does not apply to trades made pursuant to a Rule 10b5-1 trading plan.
−Removed: During the year ended December 31, 2023, we repurchased 487,918 shares of our common stock under our stock repurchase program for $27.3 million, which includes applicable commissions and fees.
−Removed: The following table contains information relating to the repurchases of our common stock made by us in the quarter ended December 31, 2023:
−Removed: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as a Part of a Publicly Announced Program
−Removed: Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
−Removed: October 1 to October 31, 2023 — $ — — $ 87,145,286
−Removed: November 1 to November 30, 2023 248,378 58.15 248,378 72,701,660
−Removed: December 1 to December 31, 2023 — — — 72,701,660
−Removed: Total 248,378 $ 58.15 248,378
+Added: No shares were repurchased under our stock repurchase program during the three months ended December 31, 2024.
We withhold shares of common stock in connection with the vesting of restricted stock unit awards issued to employees to satisfy applicable tax withholding requirements.
1 unchanged sentence
As of January 1, 2023, we are subject to a 1.0% excise tax on the value of net corporate stock repurchases under the Inflation Reduction Act of 2022.
−Removed: When applicable, the excise tax will be included as part of the cost basis of shares acquired and is presented within stockholders’ equity in the consolidated balance sheets and will be excluded from amounts presented above.
+Added: When applicable, the excise tax will be included as part of the cost basis of shares acquired and is presented within stockholders’ equity in the consolidated balance sheets and will be excluded from amounts presented for shares purchased.
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.