ASHLAND INC. 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Share repurchase activity during the three months ended June 30, 2023 was as follow: Issuer Purchases of Equity Securities Q3 Fiscal Periods Total Number of Shares Purchased Average Price Paid Per Share, including commission Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Dollar Value of Shares that May Be Purchased Under the Plans or Programs (in millions) (a) (b) April 1, 2023 to April 30, 2023 465,735 $ 102.41 465,735 $ 300 May 1, 2023 to May 31, 2023 968,196 88.82 968,196 214 June 1, 2023 to June 30, 2023 160,746 87.12 160,746 1,000 Total 1,594,677 1,594,677 $ 1,000 (a) During May 2022, Ashland’s Board of Directors approved a new evergreen $500 million stock repurchase program which replaced the previous stock repurchase program. Ashland’s stock repurchase program does not obligate it to acquire any specific number of shares. Under the program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 of the Exchange Act. As of June 30, 2023, $200 million remained available for repurchase under this authorization prior to the initiation of the 2023 stock repurchase program noted below in (b). (b) On June 28, 2023, Ashland's board of directors authorized a new evergreen $1 billion common share repurchase program (2023 stock repurchase program). The new authorization terminates and replaces the company's 2022 stock repurchase program, which had $200 million outstanding at the date of termination.