6 unchanged sentences
The declaration and payment of any future dividends by our Board of Directors is subject to compliance with the covenants contained in the agreements governing our credit facilities, applicable law and other considerations.
−Removed: See Note 18 to our consolidated financial statements included in this Form 10-K for details regarding covenant restrictions on the payment of dividends under our debt agreements.
+Added: See Note 16 to our consolidated financial statements included in this Form 10-K for information regarding covenant restrictions on the payment of dividends under our debt agreements.
Stock Performance Graph
6 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: 2022 Stock Repurchase Program
The following table contains information about purchases of our common stock during the fourth quarter of 2023.
18 unchanged sentences
December 1, 2023 — December 31, 2023 — $ — — $ 234,592
−Removed: Total 8,000,000
−Removed: (1) In April 2022, our Board of Directors approved and announced a new stock repurchase program authorizing the repurchase of up to $450 million of the Company’s outstanding common stock over the next four years.
+Added: 2022 Stock Repurchase Program
+Added: (1) During the three months ended December 31, 2023, the Company did not repurchase shares on the open market or accrue excise tax related to these repurchases, net of shares issued under the Company’s equity incentive program.
+Added: As of December 31, 2023, $234.6 million was available for additional share repurchases under the program.
+Added: (2) Excludes brokerage commissions and other costs of execution.
+Added: (3) In April 2022, our Board of Directors approved a stock repurchase program that authorized the Company to purchase up to $450 million of the Company’s common stock over the four-year period from the date of approval.
This program is expected to be funded using cash on hand and cash generated from operations.
5 unchanged sentences
Historically the Company has made discretionary share repurchases under its share repurchase programs.
−Removed: Beginning in 2023, these transactions will be subject to the excise tax of the IRA.
−Removed: Based on the Company’s historical net repurchase activity, the excise tax and the other provisions of the IRA are not expected to have a material impact on the Company’s results of operations or financial position.
−Removed: During the three months ended December 31, 2022, in connection with a secondary offering of the Company’s common stock in November 2022, the Company repurchased 8,000,000 shares of its common stock sold in the offering from the underwriters at a price of $7.88 per share for a total of $63.0 million.
−Removed: As of December 31, 2022, $313.3 million was available for additional share repurchases under the program.
−Removed: (2) Excludes brokerage commissions and other costs of execution.
Tax Withholdings
3 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.