Item 2. Unregistered Sales of Equity Securities
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
During the three months ended September 28, 2024, we purchased shares of our common stock as follows:
Period Total Number
of Shares
Purchased Average
Price Paid
per Share Total Number
of Shares
Purchased as
Part of Publicly
Announced
Plans or
Programs (3) Maximum
Number
(or Approximate
Dollar Value)
of Shares that
May Yet Be Purchased
Under the Plans or Programs (3)
June 30, 2024 through July 27, 2024 167,563 $ 94.75 167,563 $ 145,426,139
July 28, 2024 through August 24, 2024 (1) 106,130 $ 102.38 106,090 $ 134,565,161
August 25, 2024 through September 28, 2024 (2) 2,410 $ 108.70 — $ 134,565,161
Total 276,103 273,653 $ 134,565,161
(1) Includes 40 shares of our common stock withheld from participants for income tax withholding purposes in connection with the vesting of restricted stock awards (“RSAs”) during the period. The RSAs were granted to participants in prior periods pursuant to our 2008 Stock Option and Stock Incentive Plan.
(2) Includes 2,410 shares purchased from the Dorman Products, Inc. 401(k) Plan and Trust .
(3) On December 12, 2013 we announced that our Board of Directors authorized a share repurchase program, authorizing the repurchase of up to $10 million of our outstanding common stock by the end of 2014. Through several actions taken since that time, our Board of Directors expanded the program to $600 million and extended the program through December 31, 2024 (the “Existing Program”). At September 28, 2024, $134.6 million was available for repurchase under the Existing Program. The Existing Program will expire on December 31, 2024, along with all amounts that remain available for use under the Existing Program as of that date.
In October 2024, the Company’s Board of Directors authorized the purchase of up to $500 million of our common stock under a new share repurchase program that is effective from January 1, 2025 through December 31, 2027 (the “New Program”).
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Under each of the Existing Program and the New Program, share repurchases may be made from time to time depending on market conditions, share price, share availability and other factors at the Company’s discretion. These share repurchase programs do not obligate us to acquire any specific number of shares.
ITEM 3. Defaults Upon Senior Securities
None
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.