Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
(a) Not applicable
(b) Not applicable
(c) Share Repurchases
On October 25, 2021, the Company announced that its Board of Directors authorized the Company to purchase up to $300 million of its common stock through a share repurchase program (the “Program”) that calls for shares to be purchased in the open market from time-to-time at prevailing prices in accordance with federal securities laws. All remaining availability under the Program as of March 31, 2022 was repurchased in April 2022 prior to the Program expiring on April 22, 2022.
The following table only includes the open market repurchases of our common stock in each month during the three months ended June 30, 2022:
Total number
of shares
purchased (a)
Average
price paid per
share (b)
Total number of
shares purchased
as part of publicly
announced plans
or programs Maximum
dollar value of
shares that may yet
be purchased under
the plans or
programs (in millions)
April 1-30 149,487 $ 105.51 2,902,117 $ —
May 1-31 — $ — — $ —
June 1-30 — $ — — $ —
Total April 1 — June 30, 2022 149,487 $ 105.51
(a) Shares repurchased are based on the trade date
(b) Excludes any fees, commissions or other expenses associated with share repurchases
We routinely receive shares of our common stock as payment for stock option exercises and the withholding taxes due on stock option exercises and the vesting of restricted share units from stock-based compensation program participants.
Item 3. Defaults Upon Senior Securities
Not applicable.
Item 4. Mine Safety Disclosures
Not applicable
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.