6 unchanged sentences
Repurchases of Our Common Stock
−Removed: On September 22, 2011, our Board of Directors approved an 320 million share increase in the stock repurchase program, bringing the total current authorization to 784 million shares.
+Added: On September 22, 2011, our Board of Directors approved a 320 million share increase in our stock repurchase program, bringing the total current authorization to 784 million shares.
The repurchases may be effected through solicited or unsolicited transactions in the open market or in privately negotiated transactions.
1 unchanged sentence
Subject to applicable securities laws, such repurchases will be made at such times and in such amounts as we deem appropriate and may be discontinued at any time.
−Removed: For fiscal 2023, 2022, and 2021, we did not repurchase any shares of our common stock under the program.
+Added: For fiscal years 2024, 2023, and 2022, we did not repurchase any shares of our common stock under the program.
As of July 31, 2024, the total number of shares repurchased under the program was 458,196,792, and subject to applicable limitations under Delaware law, 325,803,208 shares were available for repurchase under our program.
−Removed: In fiscal 2021, certain employees exercised stock options through a cashless exercise.
−Removed: In fiscal 2022 and 2023, no employees exercised stock options through a cashless exercise.
−Removed: A portion of the options exercised were net settled in satisfaction of the exercise price.
−Removed: We remitted $0.0 million during the years ended July 31, 2023 and 2022, and $3.8 million during the year ended July 31, 2021 to the proper taxing authorities in satisfaction of the employees’ statutory withholding requirements.
−Removed: The exercised stock options, utilizing a cashless exercise, are summarized in the following table:
−Removed: Period Options Exercised Weighted Average Exercise Price Shares Net Settled for Exercise Shares Withheld for Taxes (1)
−Removed: Net Shares to Employees Weighted Average Share Price for Withholding Employee Stock-Based Tax Withholding (in 000s)
−Removed: FY 2021—Q4 360,000 4.43 49,464 117,396 193,140 32.25 3,786
−Removed: FY 2022 — — — — — — —
−Removed: FY 2023 — — — — — — —
−Removed: (1) Shares withheld for taxes are treated as a repurchase of shares for accounting purposes but do not count against our stock repurchase program.
+Added: In fiscal 2024, certain employees held stock option awards that could be exercised through a cashless exercise.
+Added: For the years ended July 31, 2024, 2023 and 2022, no employee exercised stock options through a cashless exercise.
+Added: If exercised a portion of the options exercised will net settled in satisfaction of the exercise price and employees’ statutory withholding requirements.
+Added: Any shares withheld for taxes are treated as a repurchase of shares for accounting purposes, but do not count against our stock repurchase program.
Dividend Policies
1 unchanged sentence
We currently intend to retain any earnings for use in our business.
−Removed: The Credit Agreement to which we are a party contains customary affirmative and negative covenants, including covenants that limit or restrict us and our subsidiaries’ ability to, among other things, pay dividends, subject to certain exceptions.
+Added: The Second Amended and Restated Credit Agreement (as defined below) to which we are a party contains customary affirmative and negative covenants, including covenants that limit or restrict us and our subsidiaries’ ability to, among other things, pay dividends, subject to certain exceptions.
For further detail see Notes to Consolidated Financial Statements, Note 9 – Long-Term Debt and Note 12 — Stockholders’ Equity and under the subheadings “ Credit Agreement ” and “ Note Purchase Agreement ” in the Liquidity and Capital Resources sections of this Annual Report on Form 10-K .
Issuances of Unregistered Securities
−Removed: There were no issuances of unregistered securities in the year ended July 31, 2023.
+Added: Except for the issuance of 2.5 million restricted shares of our common stock in connection with the acquisition of a controlling ownership interest in Purple Wave Inc.
+Added: during the current year, there were no issuances of unregistered securities in the year ended July 31, 2024.
Performance Graph
16 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.