4 unchanged sentences
DIVIDEND POLICY
−Removed: We neither declared nor paid any cash dividend on our common stock in 2020 or 2019, and we do not currently anticipate paying cash dividends on our common stock.
+Added: We neither declared nor paid any cash dividends on our common stock in 2021 or 2020, and we do not currently anticipate paying cash dividends on our common stock.
However, we evaluate our dividend policy on a regular basis and may pay dividends in the future, subject to compliance with the covenants in our senior credit facility, the indentures governing our senior notes and our vehicle financing programs.
The declaration and payment of future dividends to holders of our common stock will be at the discretion of our Board of Directors and will also depend upon many factors, including our financial condition, earnings, capital requirements of our businesses, covenants associated with certain debt obligations, legal requirements, regulatory constraints, industry practice and other factors that the Board of Directors deems relevant.
−Removed: SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
−Removed: The following table provides information about shares of our common stock that may be issued upon the exercise of options and restricted stock units under all of our existing equity compensation plans as of December 31, 2020.
−Removed: Plan Category Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, Rights and Restricted Stock Units (a)
−Removed: Weighted-Average
−Removed: Exercise Price of
−Removed: Outstanding Options,
−Removed: Warrants and Rights
−Removed: (Excludes Restricted
−Removed: Stock Units) ($) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in First Column) (b)
−Removed: Equity compensation plans approved by security holders 2,148,002 $ — 4,457,508
−Removed: Equity compensation plans not approved by security holders — — —
−Removed: Total 2,148,002 $ — 4,457,508
−Removed: (a) Includes awards granted under the Amended and Restated Equity and Incentive Plan, which plan was approved by stockholders.
−Removed: (b) Represents 4,457,508 shares available for issuance under the Amended and Restated Equity and Incentive Plan.
ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: The Company’s Board of Directors has authorized the repurchase of up to approximately $1.8 billion of its common stock under a plan originally approved in 2013 and subsequently expanded, most recently in August 2019.
−Removed: The Company ’ s stock repurchases may occur through open market purchases or trading plans pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934.
−Removed: The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors.
−Removed: The repurchase program may be suspended, modified or discontinued at any time without prior notice.
−Removed: The repurchase program has no set expiration or termination date.
−Removed: During the three months ended December 31, 2020, no common stock repurchases were made under the plan.
+Added: Total Number of Shares Purchased (in millions) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (in millions) Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs ($ in millions)
+Added: October 2021 2.2 $ 150.37 2.2 $ 70
+Added: November 2021 0.4 272.63 0.4 959
+Added: December 2021 — — — 959
+Added: 2.6 $ 169.74 2.6 $ 959
+Added: The Company’s Board of Directors has authorized the repurchase of up to approximately $4.1 billion of its common stock under a plan originally approved in 2013 and subsequently expanded, most recently in November 2021.
+Added: Under the Company’s stock repurchase program, the Company repurchases shares from time to time in open market transactions, and may also repurchase shares in accelerated share repurchases, tender offers, privately negotiated transactions or by other means.
+Added: The timing and amount of repurchase transactions will be determined by the Company’s management based on its evaluation of market conditions, the Company’s share price, legal requirements, restricted payment capacity under its debt instruments and other factors.
+Added: The stock repurchase program may be suspended, modified or discontinued without prior notice.
PERFORMANCE GRAPH
−Removed: Set forth below are a line graph and table comparing the cumulative total stockholder return of our common stock against the cumulative total returns of peer group indices, the S&P Midcap 400 Index, and the Dow Jones U.S.
−Removed: Transportation Average Index for the period of five fiscal years commencing December 31, 2015 and ending December 31, 2020.
−Removed: The broad equity market indices used by the Company are the S&P Midcap 400 Index, which measures the performance of mid-sized companies, and the Dow Jones U.S.
−Removed: Transportation Average Index, which measures the performance of transportation companies.
−Removed: The graph and table depict the result of an investment on December 31, 2015 of $100 in the Company’s common stock, the S&P Midcap 400 Index and the Dow Jones U.S.
−Removed: Transportation Average Index, including investment of dividends.
+Added: Set forth below are a line graph and table comparing the cumulative total stockholder return of our common stock against the cumulative total returns of peer group indices, the S&P Midcap 400 Index, and the Dow Jones US Transportation Average Index for the period of five fiscal years commencing December 31, 2016 and ending December 31, 2021.
+Added: The broad equity market indices used by the Company are the S&P Midcap 400 Index, which measures the performance of mid-sized companies, and the Dow Jones US Transportation Average Index, which measures the performance of transportation companies.
+Added: The graph and table depict the result of an investment on December 31, 2016 of $100 in the Company’s common stock, the S&P Midcap 400 Index and the Dow Jones US Transportation Average Index, including investment of dividends.
As of December 31,
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S&P Midcap 400 Index $ 100.00 $ 116.24 $ 103.36 $ 130.44 $ 148.26 $ 184.96
−Removed: Dow Jones U.S.
−Removed: Transportation Average Index $ 100.00 $ 122.32 $ 145.59 $ 127.65 $ 154.24 $ 179.72
+Added: Dow Jones US Transportation Average Index $ 100.00 $ 119.02 $ 104.35 $ 126.09 $ 146.92 $ 195.72
SELECTED FINANCIAL DATA
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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.