Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Unregistered Sales of Equity Securities
None during the period covered by this report.
Use of Proceeds
Not applicable.
Issuer Purchases of Equity Securities
The following table provides information on a monthly basis for the quarter ended June 30, 2023, with respect to the Company’s purchase of equity securities:
Period Total Number
of Shares
Purchased Average Price
Paid Per Share Total Number
of Shares
Purchased as
Part of Publicly
Announced Plans or Programs Approximate
Dollar Value
of Shares that
May Yet be Purchased
Under the Plans or Programs
April 1, 2023 to April 30, 2023 3,490,427 $25.09 3,490,427 $387,691,464
May 1, 2023 to May 31, 2023 2,620,194 $24.62 2,620,194 $1,323,191,589
June 1, 2023 to June 30, 2023 4,865,022 $26.33 4,865,022 $1,195,105,317
On April 3, 2017, we announced the establishment of a share repurchase plan approved by the Board of Directors with an initial authorization of $2.0 billion for future repurchases of outstanding shares of our common stock. On November 8, 2018, our Board of Directors approved an incremental $2.0 billion share repurchase authorization. As of March 31, 2023, DXC had approximately $0.5 billion of remaining share repurchases authorized under these approved plans.
On May 18, 2023, DXC announced that its Board approved an incremental $1.0 billion share repurchase authorization. Share repurchases may be made from time to time through various means, including in open market purchases, 10b5-1 plans, privately-negotiated transactions, accelerated stock repurchases, block trades and other transactions, in compliance with Rule 10b-18 under the Exchange Act, as well as, to the extent applicable, other federal and state securities laws and other legal requirements. The timing, volume, and nature of share repurchases pursuant to the share repurchase plan are at the discretion of management and may be suspended or discontinued at any time.
On August 16, 2022, the U.S. government enacted the Inflation Reduction Act (the "IRA") into law. The IRA imposes a 1% excise tax on share repurchases completed after December 31, 2022. We reflect the excise tax within equity as part of the repurchase of the common stock.
See Note 15 - "Stockholders’ Equity" to the financial statements in this Quarterly Report on Form 10-Q for more information.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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