Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The following table summarizes the repurchases and cancellations of shares of our common stock during the 2025 first quarter:
Period Total Number of Shares Purchased (a) Average Price Paid per Share (b) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (c) Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs (c)
February 2, 2025 to March 1, 2025 1,051,200 $ 51.90 1,051,200 $ 580,936,189
March 2, 2025 to April 5, 2025 639,828 $ 47.02 639,828 $ 550,861,576
April 6, 2025 May 3, 2025 389,744 $ 36.92 389,744 $ 536,480,184
Total 2,080,772 $ 47.59 2,080,772 $ 536,480,184
(a) The total number of shares repurchased excludes shares which were net-settled, and therefore not issued, to cover employee withholding related to the vesting
of certain restricted stock awards and exercise of certain stock option awards.
(b) Excludes the impact of unpaid excise taxes.
(c) On November 29, 2023, the Board of Directors of the Company authorized a share repurchase program (the “2023 Share Repurchase Program”) under which the Company is authorized to purchase up to $600 million of its outstanding shares during the three-year period ending November 29, 2026. On December 4, 2024, the Board of Directors authorized a share repurchase program under which the Company is authorized to purchase up to $700 million of its outstanding shares during the three-year period ending December 4, 2027 (the “2024 Share Repurchase Program”), and which replaces the 2023 Share Repurchase Program. As of May 3, 2025, approximately $536.5 million remained available for share repurchases pursuant to the 2024 Share Repurchase Program (see Note 2 to the accompanying financial statements). The 2024 Share Repurchase Program does not obligate the Company to acquire any particular number of common shares, and the programs may be suspended, extended, modified or discontinued at any time.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not Applicable.
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