AMPHENOL CORP /DE/ 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds ​ Repurchase of Equity Securities ​ In April 2018, the Company’s Board of Directors authorized a stock repurchase program under which the Company may purchase up to $2.0 billion of the Company’s Common Stock during the three-year period ending April 24, 2021 (the “2018 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). During the three months ended March 31, 2021, the Company repurchased 2.4 million shares of its Common Stock for $152.8 million under the 2018 Stock Repurchase Program. Of the total repurchases during the three months ended March 31, 2021, 0.3 million shares, or $19.8 million, have been retained in Treasury stock at time of repurchase; the remaining 2.1 million shares, or $133.0 million, have been retired by the Company. In April 2021, the Company repurchased 0.8 million additional shares of its Common Stock for $51.0 million, which completed the $2.0 billion 2018 Stock Repurchase Program. ​ The table below reflects the Company’s stock repurchases for the three months ended March 31, 2021, adjusted to give effect to the two-for-one stock split, which is discussed in Note 1 of the Notes to Condensed Consolidated Financial Statements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of ​ Maximum Dollar (dollars in millions, except price per share) ​ ​ ​ ​ ​ ​ Shares Purchased as ​ Value of Shares ​ ​ Total Number ​ Average ​ Part of Publicly ​ that May Yet be ​ ​ of Shares ​ Price Paid ​ Announced Plans or ​ Purchased Under the Period Purchased per Share Programs Plans or Programs January 1 to January 31, 2021 — $ — — $ 203.8 ​ February 1 to February 28, 2021 1,104,146 ​ 65.18 1,104,146 131.8 ​ March 1 to March 31, 2021 1,268,309 ​ 63.72 1,268,309 51.0 ​ Total 2,372,455 $ 64.40 2,372,455 $ 51.0 ​ ​ On April 27, 2021, the Company’s Board of Directors authorized a new stock repurchase program under which the Company may purchase up to $2.0 billion of the Company’s Common Stock during the three-year period ending April 27, 2024 (the “2021 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Exchange Act. As of April 27, 2021, the Company has not repurchased any shares of its Common Stock under the 2021 Stock Repurchase Program. The price and timing of any future purchases under the 2021 Stock Repurchase Program will depend on a number of factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Company’s common stock. ​ Item 3. Defaults Upon Senior Securities ​ None. ​ 35 Table of Contents Item 4. Mine Safety Disclosures ​ Not Applicable. ​