3 unchanged sentences
There is no public market for our Class A Common Stock or Class B Common Stock.
−Removed: No shares of our Class D Common Stock were outstanding as of February 2, 2024.
+Added: No shares of our Class D Common Stock were outstanding as of January 31, 2025.
As of March 17, 2025, there were 3,714 holders of record of our Class C Common Stock, six holders of record of our Class A Common Stock, and five holders of record of our Class B Common Stock.
The number of record holders does not include individuals or entities that beneficially own shares of any class of our common stock, but whose shares are held of record by a broker, bank, or other nominee.
−Removed: During Fiscal 2024, the Company paid the following quarterly dividends:
+Added: During Fiscal 2025, we paid the following quarterly dividends:
Declaration Date Record Date Payment Date Dividend per Share Amount
(in millions)
−Removed: March 2, 2023 April 25, 2023 May 5, 2023 $ 0.37 $ 270
+Added: February 29, 2024 April 23, 2024 May 3, 2024 $ 0.445 $ 316
June 11, 2024 July 23, 2024 August 2, 2024 $ 0.445 $ 314
September 18, 2024 October 22, 2024 November 1, 2024 $ 0.445 $ 312
−Removed: December 5, 2023 January 23, 2024 February 2, 2024 $ 0.37 $ 261
−Removed: ____________________
−Removed: (a) During the fiscal year ended February 2, 2024, the Company also paid an immaterial amount of dividend equivalents on eligible vested equity awards which are not included above.
−Removed: On February 29, 2024, the Company announced that the Board of Directors approved a 20% increase in the quarterly dividend to a rate of $0.445 per share per fiscal quarter beginning in the first quarter of the fiscal year ending January 31, 2025.
+Added: December 3, 2024 January 22, 2025 January 31, 2025 $ 0.445 $ 310
+Added: During the fiscal year ended January 31, 2025, we also paid an immaterial amount of dividend equivalents on eligible vested equity awards which are not included above.
+Added: On February 27, 2025, we announced that the Board of Directors approved an 18% increase in the dividend rate to $0.525 per share per fiscal quarter beginning in the first quarter of the fiscal year ending January 30, 2026.
The dividend policy and the declaration and payment of each quarterly cash dividend will be subject to the continuing determination by the Board of Directors that the policy and the declaration of dividends thereunder are in the best interests of our stockholders and are in compliance with applicable law.
The Board of Directors retains the power to modify, suspend, or cancel the dividend policy in any manner and at any time that it may deem necessary or appropriate.
−Removed: Sales of Unregistered Securities
−Removed: During January 2024, the Company issued 218,182 shares of Class C Common Stock to a stockholder upon the conversion of the same number of shares of our Class A Common Stock held by and at the election of such stockholder.
−Removed: The issuance of the Class C Common Stock in this transaction was made in reliance on the exemption from registration under the Securities Act afforded by Section 3(a)(9) thereof.
−Removed: No commission or other remuneration was paid or given directly or indirectly for soliciting the exchange of these securities.
+Added: Table of Conte nts
Purchases of Equity Securities
2 unchanged sentences
(in millions, except per share amounts)
+Added: Repurchases from November 2, 2024 to November 29, 2024 1.0 $ 134.94 1.0 $ 2,443
Repurchases from November 30, 2024 to December 27, 2024 2.2 $ 119.71 2.2 $ 2,174
−Removed: Repurchases from December 2, 2023 to December 29, 2023 4.7 $ 71.73 4.7 $ 4,684
−Removed: Repurchases from December 30, 2023 to February 2, 2024 3.5 $ 79.77 3.5 $ 4,407
+Added: Repurchases from December 28, 2024 to January 31, 2025 3.2 $ 110.84 3.2 $ 1,817
Total 6.4 6.4
−Removed: Effective as of September 23, 2021, our Board of Directors approved our current stock repurchase program with no established expiration date under which we may repurchase from time to time, through open market purchases, block trades, or accelerated or other structured share purchases, up to $5 billion of shares of Class C Common Stock, exclusive of any fees, commissions, or other expenses related to such repurchases.
−Removed: Effective as of October 5, 2023, the Company’s Board of Directors approved the repurchase of an additional $5 billion of shares of the Company’s Class C Common Stock under our stock repurchase program.
−Removed: Following the additional approval, the Company had approximately $5.7 billion in authorized amount remaining under the program.
+Added: On September 23, 2021, our Board of Directors approved a stock repurchase program with no fixed expiration date under which we may repurchase up to $5 billion of shares of Class C Common Stock, exclusive of any fees, commissions, or other expenses related to such repurchases.
+Added: On October 5, 2023 and February 27, 2025, subsequent to the close of Fiscal 2025, our Board of Directors authorized additional shares for repurchase under the stock repurchase program of $5 billion and $10 billion, respectively.
+Added: Following the February 27, 2025 approval, we had approximately $11.5 billion of authorized shares remaining under the program.
+Added: Table of Conte nts
Stock Performance Graph
Class C Common Stock
−Removed: The following graph compares the cumulative total return on the Company’s Class C Common Stock for the period from February 1, 2019 through February 2, 2024 with the total return over the same period on the S&P 500 Index and the S&P 500 Information Technology Index.
−Removed: The graph assumes that $100 was invested on February 1, 2019 in the Class C Common Stock and in each of the foregoing indices and assumes reinvestment of dividends, if any.
+Added: The following graph compares the cumulative total return on the Company’s Class C Common Stock for the period from January 31, 2020 through January 31, 2025 with the total return over the same period on the S&P 500 Index and the S&P 500 Information Technology Index.
+Added: The graph assumes that $100 was invested on January 31, 2020 in the Class C Common Stock and in each of the foregoing indices and assumes reinvestment of dividends, if any.
The comparisons in the graph are based on historical data.
−Removed: February 1, 2019 January 31, 2020 January 29, 2021 January 28, 2022 February 3, 2023 February 2, 2024
+Added: January 31, 2020 January 29, 2021 January 28, 2022 February 3, 2023 February 2, 2024 January 31, 2025
Class C Common Stock $ 100.00 $ 160.44 $ 244.72 $ 189.76 $ 397.87 $ 484.70
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.