11 unchanged sentences
Securities Repurchase Program
−Removed: In November 2021, our board of directors approved a $500.0 million increase to our existing securities repurchase program authorizing the repurchase of up to $1.0 billion of our common stock and/or convertible notes, through open market purchases, block trades, and/or privately negotiated transactions or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements.
+Added: In June 2022, our board of directors approved a $1.0 billion increase to our existing securities repurchase program authorizing the repurchase of up to $2.0 billion of our common stock and/or convertible notes, through open market purchases, block trades, and/or privately negotiated transactions or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements.
The timing, volume, and nature of the repurchases will be determined by management based on the capital needs of the business, market conditions, applicable legal requirements, and other factors.
−Removed: As of December 31, 2021, $365.5 million remains under the repurchase program, which has no expiration date and will continue until otherwise suspended, terminated or modified at any time for any reason by our board of directors.
+Added: As of December 31, 2022, we had $642.6 million remaining under the repurchase program, which has no expiration date and will continue until otherwise suspended, terminated or modified at any time for any reason by our board of directors.
Purchases of Securities by the Registrant and Affiliated Purchasers
−Removed: The following table summarizes the securities repurchase activity for the three months ended December 31, 2021 (in thousands, except total number of securities repurchased):
−Removed: Period Total Number of Securities Repurchased Average Price Paid Per Security (1)
−Removed: Total Number of Securities Purchased Pursuant to Publicly-Announced Plan
−Removed: Total Dollar Amount Purchased Pursuant to Publicly-Announced Plan
−Removed: Maximum Dollar Amount Remaining Available for Repurchase Pursuant to Publicly-Announced Plan
−Removed: As of September 30, 2021 — $ — — $ — $ 665,491
−Removed: October 1 - October 31
−Removed: — — — — 665,491
−Removed: November 1 - November 30
−Removed: — — — — 665,491
−Removed: December 1 - December 31
−Removed: 8,403,361 $ — 8,403,361 $ 300,000 $ 365,491
−Removed: (1) On December 3, 2021, we entered into an accelerated share repurchase (ASR) agreement with a financial institution (2021 ASR) to repurchase $300.0 million of our outstanding common stock.
−Removed: In exchange for an upfront payment of $300.0 million, we received an initial
−Removed: delivery of 8,403,361 shares of our common stock.
−Removed: The average price paid per security is not applicable as settlement did not occur during the three months ended December 31, 2021.
−Removed: The 2021 ASR settled during the first quarter of 2022 and we received an additional delivery of 2,163,219 shares of our common stock at a volume-weighted-average price, less an agreed upon discount, of $28.3914 per share.
−Removed: See Note 15, “Stockholders' Equity,” of our accompanying Notes to Consolidated Financial Statements included in Part II, Item 8, “Consolidated Financial Statements and Supplementary Data” of this Annual Report on Form 10-K for additional information on the 2021 ASR.
−Removed: Aside from the 2021 ASR, we did not repurchase any of our securities during the three months ended December 31, 2021, other than in connection with the forfeiture of common stock by holders of restricted stock units in exchange for payments of statutory tax withholding amounts on behalf of the holders arising as a result of the vesting of restricted stock units.
+Added: We did not repurchase any of our securities during the three months ended December 31, 2022.
Stock Performance Graph
4 unchanged sentences
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.