UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
−Removed: The following table presents our share repurchase activity for each month of the quarter ended April 2, 2022:
+Added: The following table presents our share repurchase activity for each month of the quarter ended July 2, 2022:
Period Total Number of Shares Purchased (1)
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Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
−Removed: January 2 - February 5 3,328 74.78 — 25,000,000
−Removed: February 6 - March 5 5,027 81.06 3,779 24,701,246
−Removed: March 6 - April 2 78,031 78.98 77,552 18,572,690
+Added: April 3 - May 7 556,791 70.44 553,584 33,572,690
+Added: May 8 - June 4 201 89.16 — 33,572,690
+Added: June 5 - July 2 63,173 87.71 — 33,572,690
Total 620,165 553,584
(1) Includes shares withheld by us in connection with tax withholding obligations of our employees upon vesting of such employees’ restricted stock unit awards.
−Removed: (2) On August 23, 2021, we announced that our Board of Directors approved a stock repurchase program, with no expiration from the date of authorization, for the repurchase up to $25.0 million of our common stock.
−Removed: As of April 2, 2022, $18.6 million was available for repurchases under this program.
−Removed: The timing and amount of any repurchases under this program depend upon market conditions and may be made at any time or from time to time, without prior notice, through a variety of methods, which may include open market purchases, privately negotiated transactions or pursuant to a trading plan that may be adopted in accordance with the Securities and Exchange Commission Rule 10b5-1.
−Removed: On May 3, 2022, we announced that our Board of Directors has increased our share repurchase authorization to $100.0 million, up $75.0 million from the previous program, and that we have entered into an Accelerated Share Repurchase agreement (“ASR”) with Jeffries LLC to repurchase $60.0 million of our common stock.
+Added: (2) On August 23, 2021, we announced that our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $25.0 million of our common stock.
+Added: On May 3, 2022, we announced that our Board of Directors increased our share repurchase authorization to $100.0 million, up $75.0 million from the previous program, and that we entered into an Accelerated Share Repurchase Agreement (“ASR Agreement”) with Jefferies LLC (“Jefferies”) to repurchase $60.0 million of our common stock.
+Added: Under the ASR Agreement, we received initial delivery of 553,584 shares of common stock on May 3, 2022 representing approximately 65 percent of the total number of shares of common stock initially underlying the ASR Agreement, based on our closing stock price of $70.45 on May 2, 2022.
+Added: The total number of shares repurchased under the ASR Agreement is based on the average of the daily volume-weighted average price of our common stock during the repurchase period under the ASR Agreement, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreement.
+Added: At settlement, under certain circumstances, Jefferies may be required to deliver additional shares of common stock to us, or, under certain circumstances, we may be required to make a cash payment or to deliver shares of our common stock to Jefferies.
+Added: Final settlement of the shares of common stock repurchased under the ASR Agreement could occur as early as the third quarter of fiscal 2022.
+Added: With the remaining availability under the stock repurchase program, we may repurchase our common stock at any time or from time to time, without prior notice, subject to prevailing market conditions and other considerations.
+Added: Our repurchases may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, accelerated share repurchase programs, tender offers or pursuant to a trading plan that may be adopted in accordance with the Securities and Exchange Commission Rule 10b5-1.
DEFAULTS UPON SENIOR SECURITIES
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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.