Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Stock Repurchases
The following table summarizes stock repurchases for the three months ended June 30, 2026:
ISSUER PURCHASES OF EQUITY SECURITIES
Period Total Number of Shares Purchased Average Price Paid per Share (1) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (2)
April 1 to April 30, 2026 534 (3) $ 517.48 — 1,411,075
May 1 to May 31, 2026 257,826 (4) 536.03 257,457 1,153,618
June 1 to June 30, 2026 4,603 (5) 611.73 — 1,153,618
Total 262,963 537.32 257,457
(1) Average price paid per share excludes excise tax. Our share repurchases in excess of issuances are subject to a 1% excise tax, which is recognized as part of the cost basis of the shares acquired in the Consolidated Statements of Shareholders’ Equity.
(2) On September 29, 2025, our board of directors authorized the repurchase by us from time to time of up to two million shares of our common stock (the "September 2025 Authorization"). The September 2025 Authorization, which was announced on September 30, 2025, does not have a specified expiration date. Repurchases under the September 2025 Authorization may be made in the open market, through privately negotiated transactions, through block trades, pursuant to trading plans adopted in accordance with Rule 10b5‑1 under the Securities Exchange Act of 1934 or otherwise.
(3) Consists of shares of common stock released to us by team members as payment of tax withholdings upon the settlement of restricted stock units in shares of common stock and the vesting of restricted stock units.
(4) Includes 369 shares of common stock released to us by team members as payment of tax withholdings upon the settlement of restricted stock units in common stock and the vesting of restricted stock units.
(5) Includes 1,388 shares of common stock released to us by team members as payment of tax withholdings upon the settlement of restricted stock units in shares of common stock and the vesting of restricted stock units and 3,216 shares of common stock as payment for the exercise price of stock options and the related tax withholdings upon the exercise of stock options.
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