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Pursuant to a stock repurchase program authorized by our board of directors and announced in July 2022, the Company may repurchase up to $200 million of its outstanding shares of class A common stock and/or preferred stock through various methods, including open market repurchases, negotiated block transactions, accelerated share repurchases, open market solicitations and Rule 10b5-1 plans.
−Removed: The stock repurchase program expires on June 30, 2023 and may be extended, modified, or discontinued at any time.
−Removed: The following table presents information related to purchases of the Company's Series H, I and J preferred stock during the quarter ended March 31, 2023:
−Removed: Period Total Number of Shares Purchased Weighted Average Price Paid Per Share Total Number of Shares
+Added: The stock repurchase program expired in June 2023.
+Added: The following table presents information related to purchases of the Company's Series H, I and J preferred stock during the quarter ended June 30, 2023:
+Added: Period Total Number of Preferred Shares Purchased Weighted Average Price Paid Per Preferred Share Total Number of Shares
Purchased as Part of
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($ in thousands)
−Removed: January 1 through January 31, 2023 — $ — — $ 92,430
−Removed: February 1 through February 28, 2023 — — — 92,430
−Removed: March 1 through March 31, 2023 2,738 18.89 2,738 92,378
+Added: April 1 through April 30, 2023 232,485 $ 20.20 232,485 $ 87,683
+Added: May 1 through May 31, 2023 — — — 87,683
+Added: June 1 through June 30, 2023 — — — —
232,485 $ 20.20 232,485 $ —
−Removed: (1) Represent stock purchases pursuant to the repurchase program described above.
+Added: (1) Represent stock purchases pursuant to the repurchase program described above that expired in June 2023.
+Added: Redemption of Membership Units in OP ("OP Units")
+Added: Holders of OP Units have the right to require the OP to redeem all or a portion of their OP units for cash or, at our option, shares of our class A common stock on a one-for-one basis.
+Added: In the second quarter of 2023, in satisfaction of redemption request by a former employee OP Unit holder, 253,084 shares of our class A common stock were issued to the former employee.
+Added: Such shares of class A common stock, as described above, were issued in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended.
Defaults Upon Senior Securities.
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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.