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On April 27, 2021, 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 Class A Common Stock (“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 Securities Exchange Act of 1934, as amended (the “Exchange Act”).
−Removed: During the three months ended March 31, 2023, the Company repurchased 2.1 million shares of its Common Stock for $166.9 million under the 2021 Stock Repurchase Program.
−Removed: All of the repurchased shares during the first three months of 2023 were retired by the Company.
−Removed: From April 1, 2023 to April 25, 2023, the Company repurchased 0.5 million additional shares of its Common Stock for $39.5 million, and, as of April 26, 2023, the Company has remaining authorization to purchase up to $605.2 million of its Common Stock under the 2021 Stock Repurchase Program.
+Added: During the three months ended June 30, 2023, the Company repurchased 2.0 million shares of its Common Stock for $153.6 million under the 2021 Stock Repurchase Program.
+Added: All of the repurchased shares during the three months ended June 30, 2023 have been retired by the Company.
+Added: From July 1, 2023 to July 25, 2023, the Company repurchased 0.5 million additional shares of its Common Stock for $39.4 million, and, as of July 26, 2023, the Company has remaining authorization to purchase up to $451.8 million of its Common Stock under the 2021 Stock Repurchase Program.
The price and timing of any future purchases will depend on a number of factors, such as levels of cash generation from operations, the volume of stock options exercised by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Common Stock.
−Removed: The table below reflects the Company’s stock repurchases for the three months ended March 31, 2023:
+Added: The table below reflects the Company’s stock repurchases for the three months ended June 30, 2023:
Total Number of
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Plans or Programs
−Removed: January 1 to January 31, 2023
−Removed: February 1 to February 28, 2023
−Removed: March 1 to March 31, 2023
+Added: April 1 to April 30, 2023
+Added: May 1 to May 31, 2023
+Added: June 1 to June 30, 2023
Defaults Upon Senior Securities
2 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.