2 unchanged sentences
The following table sets forth purchases and redemptions of Choice Hotels International, Inc.
−Removed: common stock made by the Company during the six months ended June 30, 2020 :
+Added: common stock made by the Company during the nine months ended September 30, 2020 :
Total Number of
15 unchanged sentences
June 30, 2020
+Added: July 31, 2020
+Added: August 31, 2020
+Added: September 30, 2020
(1) The Company’s share repurchase program was initially approved by the board of directors on June 25, 1998.
1 unchanged sentence
The share repurchase program is discretionary in nature and the board of directors has the ability to modify, suspend, or discontinue the program at any time.
−Removed: Since the program's inception through June 30, 2020 , the Company has repurchased 51.6 million shares (including 33.0 million prior to the two-for-one stock split effected in October 2005) of common stock at a total cost of $1.5 billion .
+Added: Since the program's inception through September 30, 2020 , the Company has repurchased 51.6 million shares (including 33.0 million prior to the two-for-one stock split effected in October 2005) of common stock at a total cost of $1.5 billion .
Considering the effect of the two-for-one stock split, the Company has repurchased 84.6 million shares at an average price of $17.55 a share.
−Removed: (2) During the six months ended June 30, 2020 , the Company redeemed 115,525 shares of common stock from employees to satisfy the option price and minimum tax-withholding requirements related to the exercising of options and vesting of restricted stock and performance vested restricted stock unit grants.
+Added: (2) During the nine months ended September 30, 2020 , the Company redeemed 123,029 shares of common stock from employees to satisfy the option price and minimum tax-withholding requirements related to the exercising of options and vesting of restricted stock and performance vested restricted stock unit grants.
These redemptions were not part of the board repurchase authorization.
−Removed: (3) On April 8, 2020, the Company has adopted mitigation efforts to alleviate the impact of the COVID-19 pandemic on the business.
+Added: (3) On April 8, 2020, the Company adopted mitigation efforts to alleviate the impact of the COVID-19 pandemic on the business.
As part of the mitigation efforts, the Company's management announced that no shares would be purchased under the Company’s share repurchase program until the impacts of the pandemic have subsided and the Company's cash position improves.
3 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.