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 could 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”). In April 2021, the Company repurchased 0.8 million shares of its Common Stock for $51.0 million. As a result of these purchases, the Company completed all purchases authorized under the 2018 Stock Repurchase Program and, therefore, the 2018 Stock Repurchase Program has terminated. All of the shares repurchased in April 2021 under the 2018 Stock Repurchase Program have been retired by the Company. ​ 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. During the three months ended June 30, 2021, the Company repurchased 1.7 million shares of its Common Stock for $116.3 million under the 2021 Stock Repurchase Program. All of the shares repurchased under the 2021 Stock Repurchase Program during the second quarter of 2021 have been or will be retired by the Company. From July 1, 2021 to July 27, 2021, the Company repurchased 0.7 million additional shares of its Common Stock for $48.8 million under the 2021 Stock Repurchase Program, and has remaining authorization to purchase up to $1,834.9 million 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. ​ The table below reflects the Company’s stock repurchases for the three months ended June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 April 1 to April 30, 2021 753,881 $ 67.61 753,881 $ 2,000.0 ​ May 1 to May 31, 2021 856,330 ​ 66.54 856,330 1,943.0 ​ June 1 to June 30, 2021 873,817 ​ 67.93 873,817 1,883.7 ​ Total 2,484,028 $ 67.35 2,484,028 $ 1,883.7 ​ ​ ​ Item 3. Defaults Upon Senior Securities ​ None. 42 Table of Contents ​ Item 4. Mine Safety Disclosures ​ Not Applicable. ​